Sportsman’s Warehouse Holdings, Inc. to Purchase Two Field & Stream Stores in Erie, PA and Charleston, SC
September 24 2020 - 8:48AM
Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s
Warehouse” or the “Company”) (Nasdaq: SPWH), www.sportsmans.com,
announced today that it has entered into agreements with DICK’S
Sporting Goods, Inc. (“DICK’S”) (NYSE: DKS) to purchase two Field
& Stream locations.
The stores in Erie, Pennsylvania and Charleston, South Carolina
will be rebranded as Sportsman’s Warehouse. The total purchase
price of $4.5 million for inventory and assets will be
funded through Sportsman’s Warehouse cash on hand. The transaction
is expected to close in October, subject to customary closing
conditions.
Sportsman’s Warehouse previously purchased 10 Field & Stream
stores from DICK’S in late 2019 and early 2020. The transactions
are consistent with the Sportsman’s Warehouse growth strategy of
opportunistically expanding its store footprint and geographical
reach.
“The first and second rounds of Field & Stream transactions
proved to be exceptional investments for our company,” said Jon
Barker, Sportsman’s Warehouse CEO. “The passionate and
knowledgeable Field & Stream associates who joined Sportsman’s
Warehouse were a critical component of the prior deals’ success.
Therefore, we are very excited from both a human resources and
financial perspective to add the two additional Field & Stream
stores to our portfolio. The current transaction is similar to the
previous ones, and we anticipate a strong reception to the
Sportsman’s Warehouse brand as we become an integral part of the
Erie and Charleston communities.”
The Company currently operates 107 Sportsman’s Warehouse stores
in 27 states. Including the Field & Stream transaction
announced today, the Company plans to open nine Sportsman’s
Warehouse stores this year. The Company also opened its first
Legacy Shooting Center earlier this year.
About Sportsman’s Warehouse Holdings,
Inc.Sportsman’s Warehouse is an outdoor specialty retailer
focused on meeting the everyday needs of the seasoned outdoor
veteran, the first-time participant, and everyone in between. We
provide outstanding gear and exceptional service to inspire outdoor
memories. For more information, visit
www.sportsmans.com.
Investor Relations ContactsRobert Julian, Chief Financial
OfficerCaitlin Howe, Vice President, Corporate Development &
Investor Relations(801) 566-6681investors@sportsmans.com
Dicks Sporting Goods (NYSE:DKS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Dicks Sporting Goods (NYSE:DKS)
Historical Stock Chart
From Apr 2023 to Apr 2024