Sportsman's Warehouse files chapter 11

[hoppes-no9]

http://www.ksl.com/?nid=148&sid=5931332

Can't say as I'm surprised. A decade ago when they began expanding beyond all reason outside of Utah, I was concerned about the wisdom of their management. I remember the good old days when it was three stores, and it was THE place to go buy guns, ammo, and fishin' stuff, and prices were good.

Lately it seems they tried too hard to compete with Cabelas, Bass Pro, etc. and wasted a whole lotta money on decor, and started stocking a bunch of stuff they had no business messing with.

What does surprise me is that with the gun- and ammo-buying frenzy of the last six months, they couldn't manage to hang on. Every other smaller shop is doing a booming business these days.

 

[hoppes-no9]

http://www.ksl.com/?nid=148&sid=5931332

Can't say as I'm surprised. A decade ago when they began expanding beyond all reason outside of Utah, I was concerned about the wisdom of their management. I remember the good old days when it was three stores, and it was THE place to go buy guns, ammo, and fishin' stuff, and prices were good.

Lately it seems they tried too hard to compete with Cabelas, Bass Pro, etc. and wasted a whole lotta money on decor, and started stocking a bunch of stuff they had no business messing with.

What does surprise me is that with the gun- and ammo-buying frenzy of the last six months, they couldn't manage to hang on. Every other smaller shop is doing a booming business these days.

 

[gunsmith11]

true about the ammo, went to the gun show today and regular there that sell lots of ammo, had a farely empty table

 

[Bob R]

The handwriting was on the wall for them more than 6 months ago. By then the shelves were already bare.

I would imagine their cash flow problems precluded them from increasing their inventory to take advantage of the buying frenzy of late.

bob

 

[gunsmith11]

guess I wil go to the local store tomorrow and see what is left

 

[Farmer17]

Our local Sportsman Warehouse store had the "going out of business" signs at all the nearby street corners. Most everything was marked down 10-20% and you would have thought they were giving it away for free, because people were everywhere picking the store clean, and the lines were really long at the cashiers. Except for Academy Sports, all the other gun stores are on the other side of town, and the best one hasn't been cleaned in years and doesn't have much of a selection anymore. Walmart will probably stop selling ammo soon because of all the liability and hassle, so ammo may be like gasoline. It might get a little cheaper or it might get a WHOLE lot more expensive!

 

[Class III]

About two weeks ago I went by the store in Memphis and the store in Southaven, MS (a fifteen minute drive between stores) the day after one of the local news stations broke the story that both stores would be closing. Not much loaded ammo except for some odd ball calibers, 6.5 x 55, 7.5 x 55, 7.62 x 25 TOK and about 5,000 rounds of 22-250 and about a thousand rounds of 243. I bought all of the 6.5 x 55 (100 rounds) and all of the 7.62 x 25 TOK (250 rounds) and a partial box (18 rounds) of Weatherby 300 Wby Mag 165 gr NP. No discounts on the factory loaded ammo except for the 300 Wby Mag, got the box of 18 rounds for $10.00. 10% discount on the hand loading components I picked up. Most of the clothing, shoes and boots are 30% off as of last Friday. Scopes, rings and bases were marked down 5%. Binoc's, GPS and knives were marked down 10%. Come to think of it there hasn't been much new on their shelves in the last few months, so not much has changed as far as their inventory goes.

 

[m657]

I was concerned when I saw each store I had been through in 2 states, while they had a most wonderful taxidermy display of full size elk etc, their marketing/spending was out of kilter with *MY* needs.

Last week in Salem there was literally 3k 209 primers at vastly inflated prices. LOTS of empty shelves.... There was 6 (SIX!!!) handguns on the wall/in their shelves. The long gun racks were getting mighty picked over. I had to ask for a FOURTH brand of powder before they had some...

And none of the other merchandise I could see had ANY discount marked.

Great idea. Huge expansion and pretty spotty follow-up. They did have tons of local fish photos & I guess there was some activity in various small seminar groups.

 

[Doc Watson]

I stoped by one of their Memphis stores, and did not see any bargains. All of their ammo was straight retail, Handguns straight retail, long guns were 5% off. Walked out with a Browning catalog, guy behind the gun counter was typical, with an attitude, decided to go elsewhere.

 

[gunsmith11]

went to the local sportmans warehouse an hour ago, more people than I have ever seen there, but did not see a lot of buying, 5% off on firearms, nothing off on ammo and reloading supplies, did't make any difference they did not have any. Highest discount was on clothes, 30% big deal. most everything else was 10 % off

 

[Andy Griffith]

Know how to make a small fortune in the gun business?


Start with a large one.

*Ba dum ching*

 

[gunsmith11]

been there done that. had a shop from 1977-1982 you remember when interest was up to 23%, first thing to go is peoples hobbies and recreation.
when I opened I delt with 8 distibutors, when I closed there were only 2 left