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

Jalila Essaïdi working with cow dung to create fabrics. Courtesy: Mike Roelofs

Fashion | On 29th Aug 2016

From dung to fashion

Dutch designer Jalila Essaïdi has developed a new material using cow...

Textiles | On 29th Aug 2016

India to build China’s Keqiao like mega textiles city

NITI Aayog’s proposal to build a mega textile city on the lines of...

Apparel/Garments | On 29th Aug 2016

NRF welcomes release of online sales tax bill draft

The National Retail Federation (NRF), an apex body of US retailers,...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
August 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search