Sportsmans Warehouse Holdings, Inc. (SPWH), a national outdoor sporting goods retailer company yesterday reported their fiscal second quarter 2017 financial results.

Sportsmans reported second quarter earnings of a loss of  $0.15 per share which beat analyst expectations of $0.13 per share. They also reported second quarter revenues of $191.5 million which fell short of analyst expectations of $191.9 million.   

Sportsmans Warehouse Holdings, Inc. CEO’s  Comments

John Schaefer, Chief Executive Officer, stated, “Our second quarter topline results were in line with our expectations given the anticipated continued softness in firearm demand as we anniversaried difficult comparisons from the Orlando tragedy in June 2016. Our better than expected bottom line results were driven by stronger gross margins resulting primarily from the higher margin product mix shift that we experienced in the second quarter. We remained focused on continuing to capture market share during the quarter and are encouraged by the progress we made against our strategic priorities of expanding our private label segment, maximizing our loyalty program, investing in our best-in-class customer service and enhancing our e-commerce platform.”

Mr. Schaefer continued, “For the remainder of the year, we continue to expect softness in firearm demand until we anniversary the pre-election run up that drove increased demand in our firearm and ammunition categories last year. Despite the still challenging operating environment, we will continue to execute our key growth priorities that will be centered around driving same store sales, elevating our omni-channel experience and paying down debt as we focus on delivering long-term sustainable growth.”  Globe Newswire

SPWH Technical Analysis

(Click on image to enlarge)

SPWH opened trading yesterday at $3.56 which was down from the previous day’s trading close of $3.58. SPWH closed trading yesterday at $3.46 and spiked up after market to $3.95, equivalent to a 14% increase from the closing price. Taking a look at the daily chart we can see the last time SPWH traded above these levels we have to go back to August 14th when it traded at $4.20.

Taking a closer look at the daily chart we can see that before the spike up SPWH had been in an overall downward trend dating back to June 1st when it traded at $6.27. SPWH has a float of 31.58 million shares and traded 1.80 times the normal daily trading volume on Thursday.