Home / Knowledge / News / Apparel/Garments / Sportsman's Q1'FY15 net sales fall 3% to $132.4mn
Sportsman's Q1'FY15 net sales fall 3% to $132.4mn
05
Jul '14
Sportsman's Warehouse Holdings, Inc. announced financial results for the thirteen weeks ended May 3, 2014.
 
For the thirteen weeks ended May 3, 2014:
Net sales decreased by 3.0% to $132.4 million from $136.5 million in the first quarter of fiscal 2013. Same store sales decreased by 18.1% primarily as a result of the decline in demand for firearms and ammunition. Same store sales in the first quarter of fiscal year 2013 increased by 20.8% compared to the first quarter of fiscal year 2012, fueled by the firearms and ammunition surge.
 
Income (loss) from operations decreased to a loss of $0.2 million from income of $10.6 million in the first quarter of fiscal 2013. Adjusted income from operations, which excludes expenses related to bonuses paid as a result of the successful completion of our initial public offering ("IPO") (see "GAAP and Non-GAAP Measures"), was $2.0 million as compared to $10.6 million in the first quarter of fiscal 2013.
 
Sportsman's opened 3 new stores in the first quarter of fiscal 2014 and ended the quarter with 50 stores in 18 states, a unit increase of 11.1% from the end of the first quarter of fiscal 2013.
 
Interest expense increased to $5.3 million from $3.2 million in the first quarter of fiscal 2013.
 
Net loss was $3.4 million compared to net income of $4.5 million in the first quarter of fiscal 2013. Adjusted net loss, which excludes expenses related to the IPO bonuses, net of taxes (see "GAAP and Non-GAAP Measures"), was $2.0 million compared to adjusted net income of $4.5 million for the first quarter of fiscal 2013.
 
Diluted loss per share was $0.10 compared to diluted earnings per share of $0.13 in the first quarter of fiscal 2013.  Adjusted diluted loss per share (see "GAAP and Non-GAAP Measures"), was $0.05 compared to adjusted diluted earnings per share of $0.11 in the first quarter of fiscal 2013.
 
Adjusted EBITDA was $6.8 million compared to $14.4 million in the first quarter of fiscal 2013. John Schaefer, President and Chief Executive Officer, stated: "Our first quarter results, which came in better than our expectations, were impacted by the general slowdown in firearm sales against the surge-driven comparison from last year, a dynamic we expect to continue until the second half of this year."


Must ReadView All

Textiles | On 28th May 2016

US to rethink on inclusion of Indian PET in GSP

With the US set to rethink the inclusion of polyethylene...

Textiles | On 28th May 2016

China’s textile exports marginally down in Jan-April

The exports of textiles and apparel from China dropped marginally...

Textiles | On 28th May 2016

MMF sector seeks anti-dumping duty on Chinese fabrics

Reeling under the impact of cheap Chinese fabrics, Surat’s textile...

Interviews View All

Smita Murarka
Amanté

Which fabrics will be in trend for lingerie in 2017? What aspects are...

Shawn Honeycutt
Bolger & O'Hearn

Which chemicals are likely to dominate the sustainable textiles industry?...

Priyanka
Studio Priyanka Rajiv

To which countries does India export majority of its hand-embroidered...

Kevin Nelson
TissueGen

<b><i>Kevin Nelson, Chief Scientific Officer, TissueGen discusses the...

Iago Castro Asensio
RCfil Distribuciones S.L.

<b><i>Iago Castro Asensio, International Business Manager of RCfil...

Marten Alkhagen
Swerea IVF AB

<b><i>Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
May 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search