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    Mark Herrmann • R5 Capital

    Mark Herrmann is a Specialty Retail Equity Research Analyst at R5 Capital, focusing on coverage of major U.S. retailers including companies such as Walmart, Target, and Dollar General. He is recognized for his deep sector insights and has built a reputation for producing actionable research for institutional investors. Herrmann began his career in equity research over a decade ago, serving in various analyst roles before joining R5 Capital in his current capacity, where he leverages his extensive industry experience to deliver well-regarded stock recommendations. He holds professional credentials in securities analysis and is FINRA registered, underscoring his commitment to industry standards and research integrity.

    Mark Herrmann's questions to Sportsmans Warehouse Holdings Inc (SPWH) leadership

    Mark Herrmann's questions to Sportsmans Warehouse Holdings Inc (SPWH) leadership • Q2 2024

    Question

    Mark Herrmann of R5 Capital questioned the drivers behind the hunting category's comp performance cadence, asking about the potential impacts from a California tax pre-buy or election-related chatter. He also requested an update on the penetration of firearm service and warranty programs.

    Answer

    CFO Jeffrey White acknowledged a demand pull-forward in California from a new tax but stated that improved hunting comps in July were more attributable to a 'reinvented go-to-market approach.' CEO Paul Stone added that the post-tax sales drop in California was less severe than expected due to proactive marketing. Both executives confirmed that attachment rates for firearm service and warranty programs are at an 'all-time high' and showed 'huge improvement' each month during the quarter.

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