Sportsman's Warehouse tumbles on downbeat forecast, surprise loss

Sportsmans Warehouse Holdings

07/09/2023 12:38

**  Shares of sporting goods retailer Sportsman's Warehouse
Holdings  SPWH.O  fall 23.3% to $3.45 premarket
    ** Co expects Q3 net sales in the range of $310 mln to $330
mln; falling short of avg. analyst estimates of $353 mln - LSEG 
    ** Co anticipates Q3 same store sales to be down between 19%
and 14% year-over-year
    ** Q2 net sales fall to $309.5 mln from $351 mln in Q2 2022;
missing analyst view of $325.9 mln   
    ** Co posts quarterly adjusted net loss per share of 4
cents, compared to profit of 36 cents/share in the same period
last year; below Wall Street estimate of a profit of 8 cents
    ** Q2 results were hurt by slowdown in store traffic, as
challenging macroeconomic conditions continue to pressure
consumer discretionary spending- co
    ** Board continues to search for a permanent CEO
    ** Up to Wednesday's close, stock had fallen 52.2% YTD

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))