Dj Sportsman's Warehouse Shares Fall As Hesitant Shoppers Temper Outlook

By Katherine Hamilton

Sportsman's Warehouse shares fell after the company said consumer spending is slowing down and tempered its full-year outlook.

The stock slid 19% to $1.98 in after-hours trading Thursday. Through the close, the stock was down 8% this year.

The sporting equipment retailer said the U.S. consumer appears to be under pressure and is pulling back on spending. This has made for a challenging start to the fourth quarter, prompting the company to offer more promotions, Chief Executive Paul Stone said.

It now expects full-year earnings before interest, tax, depreciation and amortization to be $22 million to $26 million, down from prior guidance of $33 million to $45 million.

The lower guidance reflects a tough fourth-quarter environment due to a challenged U.S. consumer, Sportsman's Warehouse said. In mid-October, consumer spending started to soften, Chief Executive Paul Stone said.

"While still early in the quarter, we believe it's prudent to take a conservative approach to the balance of the year," Stone told analysts.

It said revenue is projected to be flat to up slightly, compared to earlier guidance that it would be flat to up 3.5%.

In the third quarter, which ended on Nov. 1, sales increased 2.2% to $331.3 million, roughly in line with Wall Street estimates. Adjusted earnings of 8 cents a share were also in line with analysts' expectations.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

Net sales grew 2.2% year-over-year to $331.3 million, with same store sales up 2.2% and gross margin improving to 32.8%. E-commerce sales rose over 8%, and Adjusted EBITDA margin increased to 5.6%. Inventory and macroeconomic pressures remain key risks.

Original document: Sportsman's Warehouse Holdings, Inc. [SPWH] SEC 10-Q Quarterly Report — Dec. 4 2025