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Sportsman's Warehouse Holdings Inc. (SPWH0.00%) has submitted its 10-K filing for the fiscal year ended February 1, 2025.
The filing reports net sales of $1,197.6 million, a decrease from $1,288.0 million in the previous fiscal year. The decline is attributed to inflationary pressures and recession concerns impacting consumer discretionary spending.
Gross profit for the year was $370.5 million, down from $383.4 million in the prior year. The gross margin increased to 30.9% from 29.8% due to improved product margins in the Apparel and Footwear departments.
Selling, general, and administrative expenses decreased to $388.7 million from $408.8 million, reflecting cost reduction efforts and the decision not to open new stores in fiscal year 2024.
Interest expense was $12.3 million, slightly down from $12.9 million in the previous year, due to reduced borrowings.
The company recorded an income tax expense of $1.9 million, compared to a benefit of $9.2 million in the prior year, primarily due to a valuation allowance related to deferred tax assets.
Net loss for the fiscal year was $33.1 million, compared to a net loss of $29.0 million in the previous year.
Sportsman's Warehouse operated 146 stores across 32 states as of the end of the fiscal year, with plans to open one new store in fiscal year 2025.
The company continues to focus on improving its omni-channel presence and enhancing its operating margins through various strategic initiatives.
Sportsman's Warehouse maintains a revolving credit facility and a term loan facility, with $128.3 million available for borrowing as of February 1, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Sportsman's Warehouse Holdings Inc. annual 10-K report dated April 2, 2025. To report an error, please email earnings@qz.com.