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And then my second question, obviously, you noted the kind of the weather impact you saw in Q1 have kind of lingered into Q2. Camp Chef. From the stadium to the camp site, discover what thousands of others have already learned. Where we're seeing the customer back off from purchases is the attachment rate to other items within the store. You can email the site owner to let them know you were blocked. MY CART. Pellet grills use compressed hardwood pellets for both fuel and flavor. Over the last year, we started reducing our costs in many of our stores, particularly focused on store labor. This means that you can use the griddle, BBQ box, Artisan Pizza Oven, stock pot, and much more. Starting with our net sales outlook. The leadership team at Sportsman's are talented individuals with extensive experience in their respective areas of expertise. Boots, Casual Your IP: Gear, Auto & While the Sidekick is a great addition to your grill, it can also be used as a stand-alone, single-burner stove in your campsite. Camp Chef. Using this web site acknowledges your agreement to the. Our next question comes from the line of Mark Smith with Lake Street Capital Markets. Camping, Life Are you seeing them kind of buy a similar level of other basket items as they make their way back or is that being impacted as well? Do you feel like you're going to have to clear out some of this inventory? So in terms of the gross margin for the quarter, if you look at the degradation year-over-year, I'm down about 200 basis points in totality. The midpoint right now is in line with what we're seeing in current business trends. There is a limit of one (1) entry per person per weekly giveaway. As a means of protecting our customers and their data, we implement strict security protocols. I'll now turn the call over to Jeff to go through the first quarter's results and discuss our view on the second quarter. That's an area for us that continues to comp positive year-over-year. Scope Rings . What does the guidance imply that 9% to down 17%, I mean are you -- have you seen any turn so far in those regions of demand coming back? Please proceed with your question. Obviously, we keep a very clear eye on the competitive landscape and make our pricing is in line to match with our low price guarantee that we have, but we have not seen much pressure in the other areas of the business outside of ammo. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Premier Outfitters for Outdoor Gear and Clothing: Hunting, Shooting, Fishing, Camping, Cooking and more. & Snacks, Canyon Coolers Navigator 150QT Extreme Cooler, Video Product Review: Camp Chef Sportsman Pellet Grill, Camp Chef Sportsman Pellet Grill and Smoker. Add to Cart. Okay. Also, inject the bird liberally with Cajun Injector Creole Butter for an unbeatably delicious meal. The stove features two 30,000 BTU cast aluminum burners with matchless ignition and knobs that work just like your range at home. Camping, Life & Vests, Pants I will now take a minute and review our balance sheet and liquidity. By participating or accepting a Prize, entrants agree to these Official Rules and the decisions of the Sponsor and waive any right to claim ambiguity in the Promotion or these Official Rules. Online Privacy Policy. Can you maybe talk about you have tax rates you're seeing with those purchase people coming in, they're buying a similar level of kind of accessories and ammo that they may have previously pushed, I knew that ammo sales are down. Packs, Knives And then last one for me. Best Prices. Camp Chef. This VersaGrillity, as Camp Chef calls it, opens up a wide world of options for your outdoor kitchen. US. We provide outstanding gear and exceptional. All rights reserved. We stand firmly committed to our right to win as a consumer's first choice for their outdoor needs. Investor Relations. The Sidekick allows you to use any of the Camp Chef single-burner, 14-inch accessories with a 30,000 BTU propane burner. But I'm not seeing any aggressive promotional activity in the market like we saw pre-COVID when there was a ripe in-stock position or an overstock position. We now have 133 locations across the US and growing. Add on grill boxes, artisan ovens, griddles, and more. Boots, Men's Not only is the Smoke Pro Deluxe Sportsman from Camp Chef the most versatile pellet grill on the market, it is a thing of beauty to behold. The Pro 60X has the classic Camp Chef stove look, with a 14-inch by 32-inch heavy duty cooking grate, strong enough to hold filled Dutch ovens. In Q2, we're really looking at the penetration into some of the other categories. A 17.5-inch wide by 5-inch high glass window lets you keep an eye on your food without opening the cover and releasing heat. Good evening, everyone. In response to this continued softening, during the second quarter, we will further implement a company-wide cost reduction effort to align our expenses with the current sales trends. RV, Paddle There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. There isn't another product that comes close! Processing, Rubs Hi Jeff. I use this feature frequently and have been hard-pressed to pay 50 bucks for a thick ribeye served on a 500 F plate from a high-end steak house. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. The ability for us to find markets where we can meet our financial hurdles is getting a bit challenging, and I will not open up stores just to hit a number. In terms of the guidance, the guidance figures in that the pattern continues with our current business trend. Shoes, Western Fishing, rods & reels, camping gear, tents and much more. I will tell you, Mark, that as we are looking at markets and with retail real estate inventory at the lowest level it's been at for decades. learn.sportsmans.com. Although we will be adding 15 new stores during 2023, we expect year-end inventory to be approximately $400 million as we improve our terms and gain efficiency with better regional and seasonal assortments. & Tools, Hunting Got it. I will now remind everyone of the company's safe harbor language. This equates to a purchase reduction of inventory of approximately 10%. Performance & security by Cloudflare. It sports a gray Get Special Offers Delivered Right to Your Inbox. It simply dumps out the ash so it can be easily discarded. There are no further questions in the queue. The Sportsman is only available at your local Sportsmans Warehouse or online at Sportsmans.com and is just one of the many pellet grill options available. Camp Chef pioneered the camp-cooking industry. We reported a $0.39 per share loss in the quarter. I do have the TP Link extenders already, so maybe I'll place one near the grill should I buy one, and that should take care of it. Finally, to add some color to our Q2 outlook. Dual temperature probes let you cook different meats at the same time and gives you an instant readout of their internal temperature. Sportsman's Warehouse Holdings, Inc. (NASDAQ:SPWH) Q1 2023 Earnings Conference Call May 30, 2023 5:00 PM ET, Joe Schneider - Chair of the Board and Interim-CEO. Shirts, Men's It is the perfect way to finish a slow smoked steak and sear in those delicious juices. Sportsman's Guide is ranked 1st! It may not display this or other websites correctly. The Ash Cleanout is so simple to use, your firebox will always run at peak efficiency. Sportsman's Warehouse Camp Chef Weekly Giveaway Shooting Sports, Sleeping Turning now to our view on the second quarter. & Jackets, Jackets Some other features of Camp Chef pellet smokers that set them apart include an angled grease tray that catches drippings and diverts them to a bucket to prevent slick stains on your patio or a greasy mess in the bottom of your grill. Same-store sales in the second quarter of 2023 are anticipated to be in the range of down 17% to down 9%. This guidance takes into consideration a 3% to 4% same-store sales headwind versus Q2 of last year, driven by the political rhetoric due to the unfortunate event in [indiscernible]. I eventually ended up returning the grill to SW for a refund. The simple, yet durable design was applauded by outdoorsmen everywhere. After countless hours of brainstorming, engineering, and tinkering, the Pro60 was bornand along with ita company to pioneer the camp-cooking industry. Okay. With an internal hammer and multiple redundant safeties, the trigger is the smoothest, most refined fire control in an FN carry pistol. Since then weve added griddles and grill box attachments, a variety of cast iron pieces, and more recentlypellet grills. Boots, Men's This is akin to those guys using their charcoal grill and adding wood chips, but with far more flavor imparted to the meat. NO PURCHASE OR DONATION NECESSARY TO ENTER OR WIN. FREE SHIPPING On Orders Over $49 | See Details. The Gunsmith at Sportsman's Warehouse. This allows them to execute at the highest level to further the success of the business. All rights reserved. Your browsers UserAgent string has been modified and is invalid or does not match other characteristics of your request. The consumer is no longer buying excess boxes of ammo. JavaScript is disabled. Click to reveal Buy Camp Kitchen at Sportsmans Warehouse online and in-store has everything for your outdoor sports adventure needs. I added an inexpensive TP Link Wifi extender from. Please select a store manually. When it comes to cooking in the outdoors, nobody does it better than Camp Chef. It's critical that we continue to stay diverse and flexible in our approach but disciplined in our financial hurdles, a 10% four wall EBITDA and 20% ROIC as we navigate through the macroeconomic pressures we are seeing in the business. This website is using a security service to protect itself from online attacks. Our real estate funnel is strong with 15 planned new stores opening this year. This can often be caused by Third Party plug-ins. Thanks. Online pricing may vary from in-store pricing. And then maybe a follow-up to that. Please proceed with your question. Sportsman's Warehouse thanks you for your service. & Shorts, Athletic [Operator Instructions] As a reminder, this conference is being recorded. The options are nearly endless with all of the premium hardwood pellet offerings they provide. & Gloves, Coats Sportsman's Warehouse Holdings, Inc. (NASDAQ:NASDAQ:SPWH) Q1 2023 Earnings Conference Call May 30, 2023 5:00 PM ETCompany ParticipantsRiley Timmer - VP, IRJoe Schneider - Chair of the Board. Online pricing may vary from in-store pricing. What better way to officially kick off the warm weather in May than with Camp Chef? Camp Chef Sportsman Pellet Grill and Smoker On Camp Chef grills, this is accomplished by pulling a handle that activates a scraper and opens a chute to dump the ash into a metal cup located under the fire box. We've been putting this 150-quart extreme cooler to the test for months and it is obvious that this cooler is designed by people who actually use the product Not only is it the most versatile pellet grill on the market, it is a thing of beauty. This is the one case where we can say that smoking is good for you and will forever change the way you eat. Being one of Camp Chef's 14in cooking systems, the Explorer is very versatile and can be equipped with many different Camp Chef accessories, from the Professional Grill Box to the Italia Artisan Pizza Oven. Outerwear, Women's Thank you to all that entered. We are working expeditiously but prudently to find the right person with deep retail and omnichannel experience, a passion for the outdoors and a proven ability to return value to our shareholders. I will now turn the call back to the operator to facilitate any questions. We have six stores slated to grand open in the second quarter and four stores on track to open early in the third quarter as we enter the hunting and the holiday season. Entries are null and void and will be rejected if not obtained in accordance with these rules and through authorized, legitimate channels or if they contain or reflect printing, typographical, mechanical, or other errors. Camp Chef Turkey Cannon Infusion Roaster available at a great price in the Sportsman's Guide Grills & Smokers collection. Featured Firearm - Sig Sauer P365-XMACRO w/ Romeo . Processing, Rubs Yes, that's a great question. EPS for the second quarter of 2023 is expected to be in the range of $0.02 to $0.15. The 30,000 square foot box allows me to have a broad assortment with a variety of products and allows me to hit those financial hurdles easier. Youll get the industrys most even cook using everyones favorite pre-seasoned steel griddle surface. 10462 S River Heights Dr. . The "Camp Chef Giveaway Week 4" has expired. So we're really happy with what our e-com team has done to the business. Camping Video Product Review: Camp Chef Sportsman's 2X Stove A rugged piece of gear that is ideal for camping, but also a great tool for emergency preparedness, home canning, tailgating, cookouts, and many other uses . Please proceed with your question. Their camp stoves offer a reliable, versatile cook system that can be tailored to fit your outdoor cooking needs. & Snacks, Smoke Pro Deluxe Sportsman from Camp Chef, Relentless Clarity: Introducing Leupolds New-for-2020 Line of Performance Eyewear. Yes, Mark, I'd go back to the statement of the retail real estate inventories at the lowest level that it's been for decades. And just one follow-up kind of on margin. the last several weeks. Yes. Click to reveal Unlimited professional scope mounting & bore sighting during coverage. Any attempted e-mail or other entry method will be void. Shoes, Men's Hawken Fishing Trout Trap Stinger -This unique crippled swimming action triggers a predatory reflex that fish can't control. The industry is very full and robust in terms of in-stocks in ammunition. Accessories, Women's Holders, Food And finally, the increase in our interest expense reduced EPS by $0.04 on a year-over-year basis. Shoes, Women's Definitions of such non-GAAP measures as well as reconciliations to the most directly GAAP financial measures are provided as supplemental financial information in our press release included as Exhibit 991 to the Form 8-K we furnished to the SEC today, which is also available on the Investor Relations section of our website at sportsmans.com. Terms of Use and The pellets from Camp Chef are made of the highest quality virgin hardwoods. This does conclude today's teleconference. So there's really no reactionary behavior from the consumer. & Shorts, Athletic Thanks for taking the question. Holders, Food The decrease in gross margins was primarily due to a reduction in sales mix in our camping and fishing departments, which carry a higher margin profile and lower comparable product margins, mainly in ammunition. Our sales in the first quarter were also impacted by the unfavorable weather conditions in the Western United States as record levels of rain and snow pressured the spring camping and fishing seasons, causing demand for products in those categories to be softer than expected. Add to Cart. 51 29 Sep 26, 2020 #1 I picked up one of these this morning. I make sure I understand one of the previous questions on gross margin. Same-store sales decreased 17.8% in the quarter compared with the same quarter of fiscal year 2022. That makes sense. Greetings, and welcome to Sportsman's Warehouse First Quarter 2023 Earnings Call. And with those insights, I'm even more confident that we have a clear path to achieving our strategic objectives that we have previously outlined for 2023. Sports, Dog Compare. We gave a large range on the guidance just because we have seen some areas start to turn in camping and fishing penetration, but not at the rate that we were hoping or expecting them to turn. 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