SPORTSMAN'S WAREHOUSE HOLDINGS, INC. Segments Disclosure
(6) Segments
The Company has one reportable segment, Sportsman's Warehouse, which operates solely as a sporting goods retailer, including both retail stores and an e-commerce platform. The single operating segment derives revenues from customers purchasing goods from both the Company’s retail stores and its e-commerce platform.
The accounting policies of the operating segment are the same as those described in the summary of significant accounting policies.
The CODM assesses performance for the single operating segment and decides how to allocate resources based on net income (loss) that also is reported on the consolidated statement of operations.
The measure of segment assets is reported on the balance sheet as total consolidated assets. Asset information is not presented here because its presentation here would be duplicative of the consolidated balance sheets.
Net income is used in monitoring budget versus actual results. The CODM also uses net income (loss) in competitive analysis by benchmarking to the Company’s competitors. The competitive analysis along with the monitoring of budgeted versus actual results are used in assessing performance of the segment and in establishing management’s compensation.
The Company's single reportable segment revenue, segment profit or loss, and significant segment expenses are as follows:
|
|
Fiscal Year Ended |
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|
January 31, |
|
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February 1, |
|
|
February 3, |
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|
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2026 |
|
|
2025 |
|
|
2024 |
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Net sales |
|
$ |
1,209,182 |
|
|
$ |
1,197,633 |
|
|
$ |
1,287,987 |
|
Cost of goods sold |
|
|
835,660 |
|
|
|
827,167 |
|
|
|
904,574 |
|
Gross profit |
|
|
373,522 |
|
|
|
370,466 |
|
|
|
383,413 |
|
|
|
|
|
|
|
|
|
|
|
|||
Selling, general and administrative expenses |
|
|
|
|
|
|
|
|
|
|||
Payroll |
|
|
167,544 |
|
|
|
165,262 |
|
|
|
179,305 |
|
Rent |
|
|
94,165 |
|
|
|
93,386 |
|
|
|
90,039 |
|
Depreciation and amortization |
|
|
39,100 |
|
|
|
40,498 |
|
|
|
39,009 |
|
Nonrecurring operating expenses (1) |
|
|
4,894 |
|
|
|
3,361 |
|
|
|
6,665 |
|
Pre-opening (2) |
|
|
686 |
|
|
|
24 |
|
|
|
5,781 |
|
Other operating (3) |
|
|
86,652 |
|
|
|
86,174 |
|
|
|
87,951 |
|
Total selling, general and administrative expenses |
|
|
393,041 |
|
|
|
388,705 |
|
|
|
408,750 |
|
Impairment (4) |
|
|
17,841 |
|
|
|
- |
|
|
|
- |
|
(Loss) income from operations |
|
|
(37,360 |
) |
|
|
(18,239 |
) |
|
|
(25,337 |
) |
Other (income) expense: |
|
|
|
|
|
|
|
|
|
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Other losses |
|
|
75 |
|
|
|
612 |
|
|
|
- |
|
Interest expense |
|
|
13,711 |
|
|
|
12,278 |
|
|
|
12,869 |
|
(Loss) income before income taxes |
|
|
(51,146 |
) |
|
|
(31,129 |
) |
|
|
(38,206 |
) |
Income tax (benefit) expense |
|
|
(1,085 |
) |
|
|
1,930 |
|
|
|
(9,209 |
) |
Consolidated net (loss) income |
|
$ |
(50,061 |
) |
|
$ |
(33,059 |
) |
|
$ |
(28,997 |
) |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 31, 2026 | Showing above |
| 2025 | Apr 2, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.