Company: SPWH
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0000950170-25-048890
Chunk: 368

Company: SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 368
---
 compensation expense, transition and severance costs related to director and officer transitions, and other gains, losses and expenses that we do not believe are indicative of our ongoing expenses. We define Adjusted EBITDA margin as Adjusted EBITDA divided by net sales. In evaluating our business, we use Adjusted EBITDA and Adjusted EBITDA margin as additional measurement tools for purposes of business decision-making, including evaluating store performance, developing budgets and managing expenditures. See “—Non-GAAP Financial Measures."

46

Results of Operations 

The following table summarizes key components of our results of operations as a percentage of net sales during the periods presented:

    Fiscal Year Ended

    February 1,

    February 3,

    January 28,

    2025

    2024

    2023

    Percentage of net sales:

    Net sales

    100.0
    %

    100.0
    %

    100.0
    %

    Cost of goods sold

    69.1

    70.2

    67.1

    Gross profit

    30.9

    29.8

    32.9

    Selling, general and administrative expenses

    32.5

    31.7

    28.7

    (Loss) income from operations

    (1.6
    )

    (1.9
    )

    4.2

    Other losses

    0.1

    -

    -

    Interest expense

    1.0

    1.0

    0.3

    (Loss) income before income taxes

    (2.7
    )

    (2.9
    )

    3.9

    Income tax (benefit) expense

    0.2

    (0.7
    )

    1.0

    Net (loss) income

    (2.9
    )%

    (2.2
    )%

    2.9
    %

    Adjusted EBITDA

    2.5
    %

    1.9
    %

    7.0
    %

The following table shows our percentage of net sales by department during the periods presented: 

    Fiscal year Ended

    February 1,

    February 3,

    January 28,

    Department
     
    Product Offerings