Ecommerce now drives more than 15% of Sportsman’s Warehouse sales, chief financial officer Jeff White said in the retailer’s fiscal fourth quarter earnings call.

Sportsman’s Warehouse net sales in its fiscal Q4 were $379.3 million. That’s an 8.9% decrease compared with $416.3 million in the fourth quarter of its fiscal 2021. It cited “lower sales demand from consumer inflationary pressures and recession concerns, partially offset by the opening of nine new stores over the last year.” Compared with the fourth quarter of fiscal year 2019, net sales increased 46.9% from $258.2 million.

However, net sales increased 46.9% from $258.2 million compared with the same quarter in the retailer’s pre-pandemic fiscal 2019.

Sportsman’s Warehouse said same-store sales decreased 12.5% in Q4 2022 compared with the Q4 2021. And they increased 24.9% compared with Q4 2019.

“During 2023, we see Sportsmans.com as a way to drive additional sales through reaching new customers outside our geographic area,” White said. He added that the retailer will continue to leverage its fleet-wide inventory and introduce new relevant products to its website.

Sportsman’s Warehouse ranks No. 360 in the Top 1000. The database is Digital Commerce 360’s ranking of the largest North American online retailers by web sales.

Sportsman’s Warehouse fiscal 2022 sales

The retailer’s net sales for the full year decreased as well. Sportsman’s Warehouse sales were $1.399 billion in its fiscal 2022. That’s a 7.1% decrease compared with $1.506 billion in fiscal 2021.

Same-store Sportsman’s Warehouse sales decreased 12.2% during fiscal year 2022 compared to fiscal year 2021. The retailer cited lower sales in all categories. Compared with its fiscal 2019, same-store sales increased 27.6%.

“While we believe outdoor participation remains strong, the macroeconomic environment and inflationary pressures are weighing on the consumer and their discretionary spending,” White said. “Additionally, the unusually wet and cold weather in the western U.S., where a large portion of our stores are located, is creating a later-than-normal start to the spring shooting, fishing and camping seasons, negatively impacting our current business.”

Sportsman’s Warehouse ecommerce targets

CEO Jon Barker, who announced his retirement on the fiscal Q4 earnings call with investors, said in the retailer’s fiscal Q3 2022 earnings call that Sportsman’s Warehouse has a target of 25% ecommerce penetration by 2025.

“During the third quarter, over 70% of our online sales were serviced with inventory from our stores or through drop ship partners,” Barker said at the time.

Sportsman’s Warehouse opened nine new stores in 2022 and ended the year with 131 total stores. White said the retailer is on track to open 15 new stores in 2023. That’s the most stores it has opened in a single year.

Earnings summary

For the fiscal fourth quarter ended Jan. 28, 2023, Sportsman’s Warehouse reported:

• Net sales were $379.3 million. That’s down 8.9% compared with $416.3 million in the Q4 2021. Compared with Q4 2019, net sales increased 46.9% from $258.2 million.
• Same-store sales decreased 12.5% compared with the year-ago quarter. Compared with the same period of 2019, same-store sales increased 24.9%.

For the fiscal year 2022 ended Jan. 28, 2023, Sportsman’s Warehouse reported:

• Sportsman’s Warehouse ecommerce sales accounted for 15% of total sales.
• Net sales were $1.40 billion. That’s down 7.1% from the previous fiscal year’s $1.51 billion.
• Same-store Sportsman’s Warehouse sales decreased 12.2% year over year. Compared with 2019, same-store sales increased 27.6%.

Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports.

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