Sportsman’s Warehouse ( (SPWH) ) has released its Q3 earnings. Here is a breakdown of the information Sportsman’s Warehouse presented to its investors.
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Sportsman’s Warehouse Holdings, Inc. is a specialty retailer in the outdoor sector, offering a wide range of gear and services to outdoor enthusiasts. The company recently announced its third quarter 2025 financial results, highlighting a steady increase in same-store sales and the opening of a new store in Surprise, Arizona.
The third quarter of 2025 saw Sportsman’s Warehouse achieve net sales of $331.3 million, marking a 2.2% increase compared to the previous year. This growth was driven by strong performance in the hunting, fishing, and personal protection categories, as well as strategic digital marketing efforts. The company’s gross margin improved by 100 basis points, reaching 32.8% of net sales, due to healthier inventory and stronger product margins.
Despite the positive sales growth, the company faced increased selling, general, and administrative expenses, which rose to $104.5 million. However, adjusted net income improved to $3.0 million, and adjusted EBITDA increased to $18.6 million, reflecting the company’s efforts in cost management and strategic investments in customer-facing areas.
Looking ahead, Sportsman’s Warehouse is focusing on strengthening its balance sheet and improving working capital efficiency. The company has adjusted its full-year 2025 outlook, expecting net sales to remain flat or slightly increase, with adjusted EBITDA projected between $22 million and $26 million. Management remains committed to inventory discipline and cost control to navigate the challenging retail environment.