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Financial Data and Key Metrics Changes - Same-store sales increased by 2.1% year-over-year, marking the second consecutive quarter of comp store sales growth [4][12] - Net sales for Q2 were $393.9 million, a 1.8% increase compared to the prior year [12] - Gross margin improved to 32%, an 80 basis point increase from Q2 last year, driven by healthier inventory and higher sales penetration from the fishing department [13][14] - Net loss for Q2 was $7.1 million, compared to a net loss of $5.9 million in the same quarter last year [15] - Adjusted EBITDA improved to $8.3 million, up from $7.4 million in the same quarter last year [15] Business Line Data and Key Metrics Changes - The hunting and shooting sports department grew by 4%, while fishing sales increased by nearly 11% year-over-year [6][12] - Ammunition sales grew by 10%, with average unit retail up in low single digits [6] - Camping sales were down 10% compared to last year, prompting a strategic shift to eliminate slow-moving categories [7] Market Data and Key Metrics Changes - Sales in Alaska grew by high single digits, indicating successful localization of merchandise assortments [5] - The firearms business outperformed the industry despite a 4.9% decline in adjusted NICs checks [5] Company Strategy and Development Direction - The company is focused on four key priorities: inventory precision, local relevance, personal protection, and brand awareness [9][10] - A strategic shift to an everyday low-price model for core ammunition has resonated well with customers [6] - The company aims to improve inventory efficiency and reduce working capital investment [17] Management's Comments on Operating Environment and Future Outlook - Management remains confident in the strategic plan despite ongoing consumer microeconomic challenges [10] - The company anticipates ending the year with lower total inventory than last year and generating positive free cash flow [11][19] - Full-year guidance for net sales has been raised to reflect flat growth, with adjusted EBITDA expected between $33 million and $45 million [18] Other Important Information - Total inventory at the end of Q2 was $443.5 million, compared to $363.4 million in the same period last year, reflecting a strategic decision to prepare for key hunting seasons [16] - The company exercised a $20 million deferred draw feature on its term loan to strengthen the balance sheet [17] Q&A Session Summary Question: Can you talk about the drivers of comp performance and its durability into 2026? - Management highlighted the alignment of strategy around hunting, shooting, fishing, and personal protection as key drivers of performance, with continued investment in inventory to maintain momentum [22][23] Question: Can you discuss margin drivers in the back half of the year? - Management noted that hunting has lower margins due to firearms and ammunition, which will impact overall margins, while fishing has been a beneficiary of margin improvements [26][27] Question: How did demand trend through August and the setup into the back half in terms of comps? - Management expressed satisfaction with August performance, noting acceleration in NICs and a positive outlook for Q3 [32] Question: Can you break down the AOV trend and its potential for improvement? - Management indicated that there is significant room for improvement in attachment rates, particularly in firearms and ammunition, with AOV and UPT both at all-time highs [34][36] Question: How is the company managing potential tariff-related margin pressure? - Management is working with vendors to anticipate cost increases and has flexibility to offset some tariffs through MAP pricing [51][53] Question: Can you provide insight into consumer behavior within the hunt category? - Management noted that average unit retail is down about 4%, but unit sales are up 4.2%, indicating a mixed impact on margins [61][63] Question: Is there an opportunity to increase sales or inventory in suppressors and short barrel rifles? - Management sees significant opportunity in these categories and plans to lean into them in the back half of the year [65]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 2, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______to_______ Commission File Number: 001-36401 SPORTSMAN'S WAREHOUSE HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 39-1975 ...

[Executive Summary & Business Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Highlights) Sportsman's Warehouse achieved its second consecutive quarter of positive same-store sales growth in Q2 FY2025, driven by effective transformation strategies and improved gross margins, leading to a raised full-year outlook [Second Quarter 2025 Performance Highlights](index=1&type=section&id=Second%20Quarter%202025%20Performance%20Highlights) Sportsman's Warehouse reported a 2.1% increase in same-store sales for Q2 FY2025, marking its second consecutive quarter of positive comparable sales, with gross margin improving by 80 basis points and a raised full-year 2025 outlook - Same store sales increased **2.1%** over last year, outperforming the Q2 Adjusted NICS data[1](index=1&type=chunk) - Gross margin improved by **80 basis points** compared to last year[1](index=1&type=chunk) - The company has improved its full year 2025 Outlook[1](index=1&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) CEO Paul Stone highlighted the effectiveness of their transformation strategy, driven by localized assortments and digital-first marketing, leading to positive same-store sales growth and outperformance in the firearms business, with a focus on seasonal merchandising and working capital efficiencies to support debt reduction - The company achieved **2.1% same store sales growth**, marking the second consecutive quarter of positive comps, despite consumer headwinds[2](index=2&type=chunk) - Focus on localizing assortments and shifting to digital-first marketing is driving results, with specific markets like Alaska showing **high single-digit growth**[2](index=2&type=chunk) - The firearms business outperformed the industry, indicating continued market share gains[2](index=2&type=chunk) - Management is focused on executing seasonal merchandising plans to drive working capital efficiencies and support further debt reduction[2](index=2&type=chunk) [Financial Performance Overview](index=1&type=section&id=Financial%20Performance%20Overview) For Q2 and YTD FY2025, Sportsman's Warehouse reported increased net sales and improved gross margins, primarily from Fishing and Hunting & Shooting Sports, despite widening net losses, while Adjusted EBITDA showed improvement [Second Quarter 2025 Financial Results](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Results) For the thirteen weeks ended August 2, 2025, Sportsman's Warehouse reported a 1.8% increase in net sales, driven by strong performance in Fishing and Hunting & Shooting Sports, with gross margin improving to 32.0%, but net loss widened to $(7.1) million and diluted loss per share increased to $(0.18), while Adjusted EBITDA saw an improvement Q2 FY2025 vs. Q2 FY2024 Key Financials (Thirteen Weeks Ended) | Metric | Q2 FY2025 (in thousands) | Q2 FY2024 (in thousands) | YoY Change (in thousands) | YoY Change (%) | | :--------------------------------- | :----------------------- | :----------------------- | :------------------------ | :------------- | | Net sales | $293,899 | $288,734 | $5,165 | 1.8% | | Same store sales growth | 2.1% | N/A | N/A | N/A | | Gross profit | $93,949 | $90,018 | $3,931 | 4.4% | | Gross margin | 32.0% | 31.2% | 0.8 pp | N/A | | SG&A expenses | $97,166 | $94,341 | $2,825 | 3.0% | | SG&A as % of net sales | 33.1% | 32.7% | 0.4 pp | N/A | | Net loss | $(7,083) | $(5,906) | $(1,177) | -19.9% | | Adjusted net loss | $(4,653) | $(5,304) | $651 | 12.3% | | Diluted loss per share | $(0.18) | $(0.16) | $(0.02) | -12.5% | | Adjusted diluted loss per share | $(0.12) | $(0.14) | $0.02 | 14.3% | | Adjusted EBITDA | $8,315 | $7,409 | $906 | 12.2% | - Net sales increase was primarily due to increased sales in Fishing and Hunting and Shooting Sports departments, eCommerce channel growth, and improved in-stocks, partially offset by softer sales in other departments[3](index=3&type=chunk) - Gross margin improvement was largely driven by improved overall product margins from healthier inventory and increased sales from the fishing department, which carries a relatively higher gross margin[3](index=3&type=chunk) - SG&A expenses increased due to reinvestment in customer-facing areas, including store labor and digital marketing, to drive sales and omnichannel traffic[3](index=3&type=chunk) [Year-to-Date (Twenty-Six Weeks) Financial Results](index=2&type=section&id=Year-to-Date%20%28Twenty-Six%20Weeks%29%20Financial%20Results) For the twenty-six weeks ended August 2, 2025, net sales increased by 1.9%, with same-store sales up 2.0%, and gross profit as a percentage of net sales improved to 31.2%, however, the net loss for the period widened to $(28.3) million and diluted loss per share increased to $(0.74), while Adjusted EBITDA remained negative but improved compared to the prior year YTD FY2025 vs. YTD FY2024 Key Financials (Twenty-Six Weeks Ended) | Metric | YTD FY2025 (in thousands) | YTD FY2024 (in thousands) | YoY Change (in thousands) | YoY Change (%) | | :--------------------------------- | :------------------------ | :------------------------ | :------------------------ | :------------- | | Net sales | $543,002 | $532,974 | $10,028 | 1.9% | | Same store sales growth | 2.0% | N/A | N/A | N/A | | Gross profit | $169,592 | $163,804 | $5,788 | 3.5% | | Gross margin | 31.2% | 30.7% | 0.5 pp | N/A | | SG&A expenses | $192,422 | $188,754 | $3,668 | 1.9% | | SG&A as % of net sales | 35.4% | 35.4% | 0.0 pp | N/A | | Net loss | $(28,337) | $(23,972) | $(4,365) | -18.2% | | Adjusted net loss | $(20,261) | $(23,107) | $2,846 | 12.3% | | Diluted loss per share | $(0.74) | $(0.64) | $(0.10) | -15.6% | | Adjusted diluted loss per share | $(0.53) | $(0.61) | $0.08 | 13.1% | | Adjusted EBITDA | $(721) | $(1,328) | $607 | 45.7% | - Net sales increase was primarily due to increased sales in Fishing and Hunting and Shooting Sports departments driven by improved core product in-stocks, and eCommerce channel growth, partially offset by softer sales in other departments[6](index=6&type=chunk) - Gross profit as a percentage of net sales increased primarily due to favorable mix and rate improvements from the fishing business and improved overall margins from healthier inventory[6](index=6&type=chunk) - SG&A expenses increased due to reinvestment into customer-facing and sales-driving areas, including store payroll, partially offset by leverage gained from higher sales[6](index=6&type=chunk) [Balance Sheet and Capital Allocation](index=2&type=section&id=Balance%20Sheet%20and%20Capital%20Allocation) As of August 2, 2025, the company reported $195.1 million in net debt and $109.5 million in total liquidity, with inventory strategically increased for key hunting seasons and a deferred draw feature exercised on the term loan [Balance Sheet Highlights](index=2&type=section&id=Balance%20Sheet%20Highlights) As of August 2, 2025, the company reported net debt of $195.1 million and total inventory of $443.5 million, which was intentionally pulled forward for key hunting seasons, with total assets increasing to $948.8 million and total liabilities also rising to $739.9 million Balance Sheet Highlights (as of August 2, 2025 vs. February 1, 2025) | Metric | August 2, 2025 (in thousands) | February 1, 2025 (in thousands) | Change (in thousands) | | :-------------------------- | :---------------------------- | :------------------------------ | :-------------------- | | Cash and cash equivalents | $1,804 | $2,832 | $(1,028) | | Merchandise inventories | $443,499 | $341,958 | $101,541 | | Total current assets | $468,308 | $366,002 | $102,306 | | Total assets | $948,853 | $852,102 | $96,751 | | Revolving line of credit | $151,215 | $74,654 | $76,561 | | Term loan, net | $43,851 | $24,067 | $19,784 | | Total current liabilities | $392,831 | $283,963 | $108,868 | | Total liabilities | $739,966 | $616,398 | $123,568 | | Total stockholders' equity | $208,887 | $235,704 | $(26,817) | - Net debt stood at **$195.1 million**, comprising **$151.2 million** from the revolving credit facility and **$43.9 million** from the term loan, offset by **$1.8 million** in cash[5](index=5&type=chunk) - Inventory increased by **$80.1 million** compared to the same period in FY2024, intentionally pulled forward for key late summer and fall hunting seasons, representing peak inventory for the year[5](index=5&type=chunk) [Capital Allocation and Liquidity](index=2&type=section&id=Capital%20Allocation%20and%20Liquidity) The company's total liquidity was $109.5 million at the end of Q2 FY2025, supported by $107.7 million availability on the revolving credit facility and $1.8 million in cash, and they also strengthened the balance sheet by exercising a $20 million deferred draw feature on the term loan Liquidity as of August 2, 2025 | Metric | Amount (in millions) | | :-------------------------------- | :------------------- | | Total liquidity | $109.5 | | Availability on revolving credit facility | $107.7 | | Cash and cash equivalents | $1.8 | - The Company exercised its **$20 million deferred draw feature** on the term loan, further strengthening the balance sheet[11](index=11&type=chunk) [Cash Flow Statement](index=9&type=section&id=Cash%20Flow%20Statement) For the twenty-six weeks ended August 2, 2025, net cash used in operating activities significantly increased due to higher inventories, while financing activities provided substantial cash through borrowings [Cash Flow Statement Highlights](index=9&type=section&id=Cash%20Flow%20Statement%20Highlights) For the twenty-six weeks ended August 2, 2025, net cash used in operating activities significantly increased to $(86.8) million, primarily due to a substantial increase in merchandise inventories, with net cash used in investing activities also increasing, while net cash provided by financing activities saw a large increase due to net borrowings on the line of credit and term loan Cash Flow Highlights (Twenty-Six Weeks Ended) | Metric | YTD FY2025 (in thousands) | YTD FY2024 (in thousands) | Change (in thousands) | | :-------------------------------------- | :------------------------ | :------------------------ | :-------------------- | | Net cash used in operating activities | $(86,799) | $(16,132) | $(70,667) | | Net cash used in investing activities | $(11,169) | $(7,631) | $(3,538) | | Net cash provided by financing activities | $96,940 | $23,182 | $73,758 | | Net change in cash and cash equivalents | $(1,028) | $(581) | $(447) | | Cash and cash equivalents at end of period | $1,804 | $2,560 | $(756) | - A significant change in operating assets and liabilities was driven by a **$(101.5) million increase** in merchandise inventories in YTD FY2025, compared to a **$(8.7) million increase** in YTD FY2024[26](index=26&type=chunk) - Net cash provided by financing activities was primarily driven by **$76.6 million** in net borrowings on the line of credit and **$20.0 million** in borrowings on the term loan[26](index=26&type=chunk) [Fiscal Year 2025 Outlook](index=3&type=section&id=Fiscal%20Year%202025%20Outlook) Sportsman's Warehouse is improving its sales guidance for fiscal year 2025, expecting flat to 3.5% net sales growth, reaffirming Adjusted EBITDA, and planning capital expenditures for technology and store maintenance [Fiscal Year 2025 Outlook Details](index=3&type=section&id=Fiscal%20Year%202025%20Outlook%20Details) Sportsman's Warehouse is improving its sales guidance for fiscal year 2025, expecting net sales to be flat to up 3.5%, reaffirming its adjusted EBITDA guidance, and anticipating capital expenditures between $20 million and $25 million, primarily for technology investments and general store maintenance, with one new store planned for November 2025 - Net sales are expected to be in the range of **flat to up 3.5%** for fiscal year 2025[7](index=7&type=chunk) - Adjusted EBITDA is reaffirmed to be in the range of **$33 million to $45 million**[7](index=7&type=chunk) - Capital expenditures for 2025 are expected to be in the range of **$20 million to $25 million**, primarily for technology investments and store maintenance[7](index=7&type=chunk) - The company anticipates opening **one new store** in November 2025 in Surprise, Arizona[7](index=7&type=chunk) - The company expects to exit 2025 with total inventory below last year's level, demonstrating improved inventory productivity[7](index=7&type=chunk) [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) This section defines and reconciles non-GAAP financial measures like adjusted net loss and adjusted EBITDA, providing a clearer view of core operating performance by excluding non-recurring or non-indicative expenses [Definition and Rationale](index=3&type=section&id=Definition%20and%20Rationale) This section defines non-GAAP financial measures such as adjusted net loss, adjusted diluted loss per share, and adjusted EBITDA, which are used by management and investors to evaluate ongoing operations and compare performance consistently, excluding certain non-recurring or non-indicative expenses to provide a clearer view of core operating performance - Adjusted net (loss) income is defined as net (loss) income plus expenses related to director and officer transition costs, estimated tax benefit from deferred tax asset valuation allowance, and expenses not indicative of ongoing operations[10](index=10&type=chunk) - Adjusted EBITDA is defined as net (loss) income plus interest expense, income tax expense (benefit), depreciation and amortization, stock-based compensation expense, director and officer transition costs, and other non-indicative expenses[10](index=10&type=chunk)[12](index=12&type=chunk) - These non-GAAP measures provide comparable financial data for internal analysis and supplemental information for investors, facilitating a more meaningful comparison of performance on a period-over-period basis by excluding unusual or non-recurring items[13](index=13&type=chunk) [Reconciliations](index=10&type=section&id=Reconciliations) The report provides detailed reconciliations of GAAP net loss to adjusted net loss, GAAP diluted loss per share to adjusted diluted loss per share, and GAAP net loss to adjusted EBITDA for both the thirteen and twenty-six-week periods, highlighting the specific adjustments made for non-GAAP reporting [Adjusted Net Loss and Adjusted Diluted Loss Per Share](index=10&type=section&id=Adjusted%20Net%20Loss%20and%20Adjusted%20Diluted%20Loss%20Per%20Share) This section presents the reconciliation of GAAP net loss to adjusted net loss and diluted loss per share, detailing specific adjustments for non-GAAP reporting Reconciliation of GAAP Net Loss to Adjusted Net Loss and EPS (in thousands, except per share data) | Metric | Q2 FY2025 (13 Weeks) | Q2 FY2024 (13 Weeks) | YTD FY2025 (26 Weeks) | YTD FY2024 (26 Weeks) | | :-------------------------------------- | :------------------- | :------------------- | :-------------------- | :-------------------- | | Net loss (GAAP) | $(7,083) | $(5,906) | $(28,337) | $(23,972) | | Director and officer transition costs | $500 | $106 | $500 | $430 | | Valuation allowance | $1,843 | $- | $7,489 | $- | | Cancelled contract | $- | $706 | $- | $706 | | Legal accrual | $283 | $- | $283 | $- | | Less tax benefit | $(196) | $(210) | $(196) | $(271) | | Adjusted net loss | $(4,653) | $(5,304) | $(20,261) | $(23,107) | | Diluted loss per share (GAAP) | $(0.18) | $(0.16) | $(0.74) | $(0.64) | | Adjusted diluted loss per share | $(0.12) | $(0.14) | $(0.53) | $(0.61) | [Adjusted EBITDA](index=11&type=section&id=Adjusted%20EBITDA) This section provides a reconciliation of GAAP net loss to Adjusted EBITDA, outlining adjustments for interest, taxes, depreciation, amortization, and other non-operating expenses Reconciliation of GAAP Net Loss to Adjusted EBITDA (in thousands) | Metric | Q2 FY2025 (13 Weeks) | Q2 FY2024 (13 Weeks) | YTD FY2025 (26 Weeks) | YTD FY2024 (26 Weeks) | | :-------------------------------------- | :------------------- | :------------------- | :-------------------- | :-------------------- | | Net loss (GAAP) | $(7,083) | $(5,906) | $(28,337) | $(23,972) | | Interest expense | $3,769 | $3,183 | $6,664 | $6,091 | | Income tax benefit | $97 | $(2,057) | $(1,233) | $(7,526) | | Depreciation and amortization | $9,922 | $10,160 | $19,782 | $20,552 | | Stock-based compensation expense | $827 | $1,217 | $1,620 | $2,391 | | Director and officer transition costs | $500 | $106 | $500 | $430 | | Cancelled contract | $- | $706 | $- | $706 | | Legal accrual | $283 | $- | $283 | $- | | Adjusted EBITDA | $8,315 | $7,409 | $(721) | $(1,328) | [Additional Company Information](index=3&type=section&id=Additional%20Company%20Information) This section provides essential company details, including forward-looking statements with associated risk factors, an overview of Sportsman's Warehouse, and investor contact information [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section contains forward-looking statements regarding future debt reduction, inventory levels, sales guidance, Adjusted EBITDA, capital expenditures, and new store openings, including a cautionary note about various risk factors that could cause actual results to differ materially from projections, such as government regulations, economic conditions, competition, and consumer demands - Forward-looking statements include plans to reduce debt levels and exit 2025 with total inventory below last year's level[14](index=14&type=chunk) - Key risk factors include government regulations (especially firearms), general economic and market conditions, concentration of stores in the Western U.S., intense industry competition, changes in consumer demands, and macroeconomic conditions like inflation and interest rates[14](index=14&type=chunk)[15](index=15&type=chunk) [About Sportsman's Warehouse](index=5&type=section&id=About%20Sportsman%27s%20Warehouse) Sportsman's Warehouse Holdings, Inc. is an outdoor specialty retailer dedicated to serving a wide range of outdoor enthusiasts by providing gear and exceptional service to inspire outdoor memories - Sportsman's Warehouse is an outdoor specialty retailer focused on meeting the needs of seasoned outdoor veterans, first-time participants, and everyone in between[16](index=16&type=chunk) [Conference Call Information](index=3&type=section&id=Conference%20Call%20Information) A conference call to discuss the second quarter 2025 financial results was scheduled for September 4, 2025, at 5:00 PM Eastern Time, accessible via webcast on the company's investor relations website - A conference call for Q2 2025 financial results was scheduled for September 4, 2025, at 5:00 PM ET, accessible via webcast on www.sportsmans.com[9](index=9&type=chunk) [Investor Contact](index=5&type=section&id=Investor%20Contact) For investor inquiries, Riley Timmer, Vice President of Investor Relations, can be contacted at (801) 566-6681 or investors@sportsmans.com - Investor Contact: Riley Timmer, Vice President, Investor Relations, (801) 566-6681, investors@sportsmans.com[17](index=17&type=chunk)

Same store sales increased 2.1% over last year; outperforms the Q2 Adjusted NICS dataGross margin up 80 basis points versus last yearImproves its full year 2025 Outlook WEST JORDAN, Utah, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. (“Sportsman's Warehouse” or the “Company”) (Nasdaq: SPWH) today announced financial results for the thirteen weeks ended August 2, 2025. “I’m encouraged by the progress our team is making as we advance our transformation strategy. In the second quarter ...

Core Viewpoint - Sportsman's Warehouse Holdings, Inc. will hold its quarterly conference call to discuss the second quarter 2025 financial results on September 4, 2025, at 5:00 p.m. Eastern Time [1]. Group 1 - A live audio webcast of the conference call will be available on the Company's investor relations website [2]. - A replay of the webcast will be accessible within two hours of the call's conclusion through September 11, 2025 [2]. Group 2 - Sportsman's Warehouse is an outdoor specialty retailer catering to both seasoned outdoor veterans and first-time participants, providing gear and exceptional service [3]. - Additional information and press releases about the Company can be found in the Investor Relations section of the Company's website [3]. Group 3 - Investor contact for Sportsman's Warehouse is Riley Timmer, VP of Investor Relations, available at (801) 304-2816 or via email at investors@sportsmans.com [4].

Group 1 - Sportsman's Warehouse (SPWH) is outperforming its peers in the Retail-Wholesale sector with a year-to-date return of approximately 38.2%, compared to the sector average of 6.7% [4] - The Zacks Consensus Estimate for SPWH's full-year earnings has increased by 16.9% in the past quarter, indicating a stronger analyst sentiment and improving earnings outlook [4] - Sportsman's Warehouse is ranked 2 (Buy) in the Zacks Rank system, which highlights stocks with characteristics likely to outperform the market in the near term [3] Group 2 - The Retail-Wholesale sector consists of 204 individual stocks and is currently ranked 13 in the Zacks Sector Rank [2] - Sportsman's Warehouse belongs to the Retail - Apparel and Shoes industry, which includes 40 companies and is ranked 212 in the Zacks Industry Rank, with an average loss of 8.3% year-to-date [6] - Another stock in the Retail-Wholesale sector, Wayfair (W), has also outperformed with a year-to-date return of 41.8% and a Zacks Rank of 1 (Strong Buy) [5][7]

Business Transformation & Strategy - The company is continuing its transformation strategy while strengthening retail fundamentals[6] - Key initiatives include omni-channel marketing reinvention, customer experience improvements, capital allocation and debt pay down, and investments in culture, people, tech and processes[7] - The company has reduced inventory by $12.7 million year-over-year and reduced debt by $27.3 million[7] 2025 Plan & Growth Focus - The company aims to drive growth by focusing on hunting, fishing, and personal protection markets[9, 10] - The company's current market share in hunting is 4% of a $12 billion total addressable market[13] - The company's current market share in fishing is 1% of a $13 billion total addressable market[14] Hunting & Fishing Market Growth - Hunting participation increased from 10.6 million in 2016 to 14.4 million in 2022, with a CAGR of +5.2%[17] - Fishing participation increased from 34.7 million in 2016 to 39.9 million in 2022, with a CAGR of +5.2%[22] Reinforcing Local Knowledge & Expertise - The company aims to be known as the leading local expert for hunting & fishing solutions[28] - The company will reinforce local knowledge through assortment and outfitters as influencers[49] - 72% of U.S. firearm owners cite protection as the major reason for ownership[63]

Group 1 - Canada Goose is part of the Retail-Wholesale sector, which includes 209 individual stocks and currently holds a Zacks Sector Rank of 10 [2] - Canada Goose has a Zacks Rank of 2 (Buy), indicating a positive outlook based on earnings estimates and revisions, with a 2.9% increase in the consensus estimate for full-year earnings over the past quarter [3] - Year-to-date, Canada Goose has returned approximately 16%, significantly outperforming the average gain of 2.6% for the Retail-Wholesale group [4] Group 2 - Canada Goose belongs to the Retail - Apparel and Shoes industry, which consists of 39 companies and currently ranks 187 in the Zacks Industry Rank, with an average loss of 15.2% for the industry this year [6] - Sportsman's Warehouse, another stock in the Retail-Wholesale sector, has returned 23.8% year-to-date and also holds a Zacks Rank of 2 (Buy) [4][5] - Investors should continue to monitor Canada Goose and Sportsman's Warehouse for their strong performance in the Retail-Wholesale sector [7]

Core Viewpoint - Sportsman's Warehouse Holdings, Inc. (SPWH) is showing potential as a stock pick due to a recent "golden cross" event, indicating a bullish trend reversal [1][2]. Technical Analysis - A "golden cross" occurs when a short-term moving average (50-day) crosses above a long-term moving average (200-day), suggesting a potential bullish breakout [2]. - The formation of a golden cross typically follows three stages: a downtrend, the crossover of moving averages, and an upward price movement [3]. Performance Metrics - SPWH has experienced a significant rally of 88.8% over the past four weeks, indicating strong momentum [4]. - The company currently holds a 2 (Buy) rating on the Zacks Rank, suggesting favorable market sentiment [4]. Earnings Outlook - Positive earnings outlook for SPWH is supported by recent revisions, with no estimates decreasing and two revisions higher in the past two months [4]. - The Zacks Consensus Estimate for SPWH has also increased, reinforcing the bullish sentiment [4][6].