Summary of Sportsman’s Warehouse Holdings, Inc.

Business Overview

• Type of Business: Outdoor sporting goods retailer focusing on hunting, fishing, camping, and shooting sports.
• Mission: To provide outstanding gear and exceptional service to inspire outdoor memories.
• Market Focus: Serves the Western United States and Alaska with a primary focus on local communities, emphasizing a community-oriented, locally relevant merchandise assortment, value pricing, and knowledgeable "outfitters" staff.

Store Network & Operations

• Number of Stores: 146 stores across 32 states (as of February 1, 2025).
• Store Sizes: Range from 7,500 to 75,000 gross square feet, with an average size of approximately 37,000 square feet.
• Locations: Most are in power, neighborhood, and lifestyle centers, with some standalone stores.
• Regional Concentration: Primarily in the Western US (including Alaska, Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming).
• Infrastructure: One distribution center in Salt Lake City, Utah, 507,000 sq ft.
• Employees: Approximately 5,100 outfitters (staff), including:
  • ~200 in corporate headquarters (West Jordan, Utah)
  • ~400 in distribution center
  • ~2,050 full-time outfitters
  • ~3,050 part-time outfitters

Revenue & Financial Highlights

• Fiscal Year Ended: February 1, 2025
• Total Revenue (Net Sales): $1,197.6 million (~$1.2 billion)
• Net Loss: Approximately 2.9% of net sales for FY 2024
  • Net loss amount roughly: $34.7 million (based on percentage)
• Gross Profit: $370.5 million (30.9% of net sales)
• Adjusted EBITDA: $29.9 million (2.5% of net sales)

Customer Base & Engagement

• Loyalty Program Participants: Over 4.9 million members (as of February 1, 2025).
• Customer Reach & Sales: About 53% of revenue generated from loyalty program members.
• E-commerce: Over 112 million website visits in FY 2024; online sales accounted for over 20% of total sales (~$239 million).

Core Business Activities

• Product Categories:
  • Hunting & Shooting (largest): Firearms, ammunition, reloading supplies, scopes, decoys, blinds, etc.
  • Fishing: Rods, reels, tackle, electronics, live bait, fishing licenses.
  • Camping: Tents, shelters, sleeping bags, coolers, kayaks, canoes, outdoor cooking gear.
  • Apparel: Camouflage, outerwear, technical gear from brands like Carhartt, Columbia, and Sitka.
  • Footwear: Hiking boots, casual shoes, technical footwear from brands like Danner, Keen, Merrell.
  • Optics & Electronics: Binoculars, GPS, two-way radios, etc.
  • Private Label & Make-up Brands: Rustic RidgeTM, KillikTM, Vital ImpactTM, Yukon Gold, Lost Creek.
• Services Offered: Gunsmithing, firearm safety and service plans, reloading services, license issuance, educational seminars, community events.

Key Strategies & Growth Initiatives

• Leverage omnichannel sales (in-store and online).
• Grow same-store sales and increase store footprint via expansion.
• Enhance margins through vendor negotiations and product mix improvements.
• Expand private label offerings.
• Grow loyalty and credit card programs.
• Focus on local, community-based marketing, including events and seminars.
• Pursue targeted new store openings, approximately 1 store planned for FY 2025.
• Maintain low-cost, capital-efficient store designs and adaptable real estate strategy.

Market Position & Competition

• Largest outdoor specialty store chain in the Western US and Alaska.
• Faces competition from independent stores, large-format retailers, online marketplaces, and other specialty outdoor retailers.
• Has favorable vendor relationships and negotiates comparable terms with large competitors.

Regulatory & Compliance

• Sells firearms, ammunition, and related products, subject to federal and state laws regulated by ATF and state agencies.
• Complies with complex regulations including background checks, licensing, and state-specific laws.
• Operates 8 stores in Oregon, where recent legislation impacts firearm sales.
• Maintains internal compliance procedures, training, and surveillance systems.

Note: This summary strictly reflects the specific information provided in the document regarding Sportsman’s Warehouse's operations, financials, store network, products, and strategic focus.