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Paul Stone

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Paul Stone
NationalityAmerican
EducationWest Virginia State University
OccupationBusiness executive
CompanySportsman's Warehouse
TitlePresident and Chief Executive Officer, Sportsman's Warehouse

Paul E. Stone is an American retail and car rental executive who has been president and chief executive officer of Sportsman's Warehouse, an outdoor sporting goods retailer based in West Jordan, Utah, since November 1, 2023.[1] He was previously president and chief executive officer of Hertz Global Holdings from May 2020 to October 2021, a period in which the car rental company filed for Chapter 11 bankruptcy protection and later emerged from it, and he then served as Hertz's president and chief operating officer until September 2023.[2][3]

Stone spent the first 28 years of his career with Sam's Club, the warehouse club subsidiary of Walmart, beginning as a store manager and rising to senior vice president of the chain's West division, where he oversaw upwards of 200 locations and more than 30,000 employees.[4] He was chief retail officer of the outdoor retailer Cabela's from November 2015 to December 2017, and joined Hertz in March 2018 to run its North American car rental operations.[1][5]

Stone's appointment as Hertz's chief executive came six days before the company's bankruptcy filing on May 22, 2020, and drew press attention after Hertz disclosed that it had paid him a $700,000 retention bonus days before the filing, as part of $16.2 million in bonuses paid to about 340 employees.[6][7] Hertz emerged from Chapter 11 on June 30, 2021, and Stone stepped down as chief executive in October 2021 when the reconstituted board named director Mark Fields interim CEO.[8][9]

At Sportsman's Warehouse, Stone took over a chain whose sales and profits were falling, and has pursued what the company calls a "reset" built on cutting excess inventory, reducing debt, halting most new store openings and refocusing the merchandise on hunting, fishing, shooting and personal protection.[10][11] The company returned to full-year same store sales growth in fiscal 2025 for the first time since 2020, although it continued to report net losses.[12] As of October 2026 he remains the company's chief executive and a member of its board.[13]

Early life and education

Little has been published about Stone's family background or upbringing. Filings by his former employer describe Stone as a graduate of West Virginia State University; they do not give the year or the subject of his degree.[8] His age was given as 50 when he was appointed chief executive of the car rental company in May 2020.[2] On joining Sportsman's Warehouse in 2023 he described himself as "a lifelong outdoorsman".[14]

Career

Sam's Club

Stone began his career at Sam's Club, the membership warehouse chain owned by Walmart, as a store manager.[5] Stone spent 28 years with the company in a series of leadership roles.[1] From 2007 to 2015 he was senior vice president of the West division, leading operations at upwards of 200 locations with more than 30,000 employees.[2]

Cabela's, 2015 to 2017

In November 2015 Stone became senior vice president and chief retail officer of Cabela's, an outdoor outfitter retail company based in Nebraska, a post he held until December 2017.[1][5] Hertz later said that in the role he was responsible for "strategy, service, people development and full-scale retail operations leadership".[5] During his time there Cabela's agreed to be acquired by Bass Pro Group; the merger closed on September 25, 2017, with Cabela's shareholders receiving $61.50 per share in cash, and Cabela's became a wholly owned subsidiary of Bass Pro.[15] Stone left about three months later.

Hertz: North American operations, 2018 to 2020

On February 28, 2018, Hertz announced that Stone would join the company on March 6 as executive vice president and chief retail operations officer, North America. Kathryn V. Marinello, then Hertz's president and chief executive, said he had "success driving process excellence, developing top talent and building high-performing teams".[5] Stone filed his initial statement of beneficial ownership as a Hertz officer with the U.S. Securities and Exchange Commission on March 15, 2018.[16]

According to the company, the North American car rental operations Stone led covered about 4,500 locations and 27,000 employees, and Stone's remit also included the company's business with transportation network companies (ride-hailing drivers) and its Hertz Car Sales used-vehicle business. The company credited him with simplifying operations and raising service standards, and said the company had won a J.D. Power award for the first time in 16 years during his tenure.[4]

Hertz: chief executive, 2020 to 2021

The COVID-19 pandemic hit Hertz's business in March 2020. On April 14, 2020, while Marinello was still chief executive, the company committed to workforce reductions affecting about 10,000 employees in North America.[17] On May 16, 2020, Marinello resigned and the board appointed Stone president and chief executive officer and a director, with immediate effect.[2] Board chairman Henry R. Keizer said the decision followed "an ongoing succession planning process" and that Stone "brings a customer-centered approach to growing the business that is driven by process excellence and employee engagement".[4] Stone said: "It is a tremendous honor to have the opportunity to lead Hertz."[4] His amended offer letter set his base salary at $1 million.[2] Hertz's own announcements and annual report described him as president and chief executive officer;[18] filings by Sportsman's Warehouse in 2023 and 2026 later called the post interim.[1][19]

On May 22, 2020, six days after Stone took over, the parent company, its main operating subsidiary and their subsidiaries in the United States and Canada filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. International subsidiaries and the vehicle financing subsidiaries were not part of the filing.[6] Fox Business reported that the company entered bankruptcy with about $19 billion of debt, and quoted Stone as saying: "With the severity of the COVID-19 impact on our business, and the uncertainty of when travel and the economy will rebound, we need to take further steps to weather a potentially prolonged recovery." He said the filing would "provide the time to put in place a new, stronger financial foundation".[7]

The NYSE began proceedings to delist Hertz's stock after the bankruptcy filing; the company appealed.[20] In June 2020, with Stone as chief executive, the company tried to raise money by selling new shares while in bankruptcy. On June 12 the bankruptcy court approved its request to sell up to $1 billion of common stock through Jefferies, and on June 15 it began an "at the market" offering of up to $500 million.[21][22] That afternoon SEC staff said they would review the prospectus supplement. The company suspended sales, and on June 18, 2020, the board's finance committee ended the program.[23]

Under an interim order of the bankruptcy court, the company disposed of about 198,000 lease vehicles between June 1 and December 31, 2020, and used the proceeds to make payments under its vehicle financing arrangements. In 2020 it also cut its US vehicle purchase commitments by about $4 billion.[18] Total revenue fell from $9.78 billion in 2019 to $5.26 billion in 2020. By December 31, 2020, Hertz had about 24,000 employees, 41 percent fewer in its US operations and 22 percent fewer internationally than a year earlier.[18] In November 2020 the company agreed to sell substantially all the assets of its Donlen fleet leasing and management subsidiary to an affiliate of Athene Holding for about $825 million in cash, subject to adjustments; the sale was completed on March 30, 2021.[18][24]

The reorganization plan was sponsored by a group made up of funds associated with Knighthead Capital Management and Certares Opportunities, together with entities managed by Apollo, and included the purchase of $1.5 billion of new preferred stock. The plan took effect on June 30, 2021, when Hertz emerged from Chapter 11. Holders of the old common stock received about 3 percent of the new common stock. Stone remained chief executive and was named to the new board as a Class II director, alongside Mark Fields, the former chief executive of Ford Motor Company.[8] The company's July 2021 filing said Stone had "led the Company through its successful operational and financial restructuring".[8] Total revenue recovered to $7.34 billion in 2021, and Hertz reported net income attributable to the company of $366 million for the year, compared with a net loss of $1.71 billion in 2020.[24]

After emergence, the new board started looking for a chief executive with public company experience to take Hertz back to a stock exchange.[25] On October 4, 2021, Stone resigned as chief executive and from the board, effective October 5. The board named Fields interim chief executive and appointed Stone chief operating officer; he kept the title of president.[9]

Hertz: president and chief operating officer, 2021 to 2023

As chief operating officer, Stone kept his $1 million salary and a 2021 target bonus of 140 percent of salary.[9] The company relisted its stock on Nasdaq on November 9, 2021,[25] and Stephen M. Scherr became chief executive on February 28, 2022.[25] The compensation committee said it had given Stone a transition retention bonus "to retain his leadership of the Company's global operations during the ongoing search for a permanent CEO and in the critical period before and after the Company's relisting".[25] By the end of 2021 the company operated from about 11,400 corporate and franchisee locations worldwide.[24]

On September 7, 2023, Stone told the company he intended to resign as president and chief operating officer, effective September 30, 2023, "to pursue other opportunities". He stayed on in a non-executive capacity until October 31, 2023, to hand over his duties.[3] On October 24, 2023, the company named Justin Keppy, a former Carrier executive, as executive vice president and chief operating officer, effective November 15, 2023.[26]

Sportsman's Warehouse, 2023 to present

On September 21, 2023, the board of Sportsman's Warehouse Holdings appointed Stone president and chief executive officer and a Class III director, both effective November 1, 2023. He succeeded Joseph P. Schneider, who had been interim chief executive.[1] Schneider had held the role since April 2023, when the previous chief executive, Jon Barker, retired.[14][27] Schneider said the board believed Stone was "the ideal choice to lead Sportsman's Warehouse through its next chapter of growth". Stone said the company "has taken significant steps over the past several months to enhance shareholder value, including reducing its expense structure and managing inventory".[14] At the time of Stone's appointment the chain operated 142 stores.[14]

Stone joined a business in decline. Net sales fell 8.0 percent to $1.288 billion in fiscal 2023, which ended February 3, 2024, and the company opened 15 new stores that year.[28] In his first quarterly statement, in December 2023, he said the company had made "significant progress on our plan to clear through excess apparel and footwear inventory" and was carrying out a cost reduction plan meant to lower its debt.[29] In April 2024 he said the company's work that year was "focused on resetting the organization to provide our passionate customers a positive in-store experience", and that its "primary goal" was "returning the business to profitability and growth".[10]

The board changed shape early in his tenure. Schneider left the board on December 31, 2023, and Rich McBee became chair.[1] In April 2024 directors Erica Fortune, Gregory P. Hickey and Philip C. Williamson said they would leave the board at the 2024 annual meeting, and the board cut its size from nine seats to six. The company said none of the departures stemmed from a disagreement with it.[30] In August 2025 Jennifer Fall Jung, formerly chief financial officer of The Duckhorn Portfolio and of Funko, replaced Jeff White as chief financial officer.[31] Stone and Fall Jung were the company's only executive officers in fiscal 2025, apart from White before he left.[19]

In fiscal 2024, Stone's first full year, the company opened no new stores. Results were weak in the middle of the year: in September 2024 Stone said the company was "disappointed that sales and margins came in below our expectations", but that "our strategic initiatives have us on the right path to turnaround this business".[27][32] Trends improved by the end of the year, and in April 2025 Stone set out the company's positioning: "Our strategic edge is that we have the scale to out-assort the local independents, and out-local the big box competitors."[33]

In fiscal 2025, which ended January 31, 2026, same store sales rose 1.0 percent. Stone said it was the first year of positive same store sales growth since 2020, and he credited a refined assortment, better in-stock levels and growth in fishing and personal protection.[12] In November 2025 the company opened a store in Surprise, Arizona, its 11th in the state and its first built around personal protection products. Stone said it was the company's only planned opening for 2025 and 2026.[34] Shareholders re-elected Stone to the board at the annual meeting on May 27, 2026, with 22,785,678 votes for and 603,397 against.[35] On September 1, 2026, Stone reported second quarter results and said that "significant work remains".[13]

Leadership and management style

Colleagues and employers have described Stone mainly as an operations leader. When he joined Hertz, Marinello pointed to his "sincere passion for people and his depth of operations expertise".[5] When he became chief executive, Keizer described his approach as "customer-centered" and "driven by process excellence and employee engagement".[4]

At Sportsman's Warehouse, Stone's public statements have kept returning to store-level execution: merchandise suited to local and seasonal demand, in-stock levels on core products, and service in stores. In April 2025 he said the company aimed to "win the seasons" through "a disciplined merchandising approach".[33] On the September 2026 earnings call he said: "We do not control the macro. We do control our assortment, our in-stocks, and our channels." According to SGB Media's report of that call, in-stock rates on core products had risen from about 50 percent two years earlier to over 80 percent. Stone said the company had spent two years "selling down inventory in Camping, Apparel, Footwear, and even Firearms, where we did not have the right assortment or were carrying aged merchandise".[11] Stone has also stressed the link between the website and the stores, saying that "a better website experience drives traffic and sales into the store, not just online".[11]

Major deals and strategic decisions

  • Hertz Chapter 11 filing (May 2020). Six days into his tenure, Hertz and its US and Canadian subsidiaries filed for bankruptcy in Delaware.[6]
  • Equity sale in bankruptcy (June 2020). Hertz won court approval to sell up to $1 billion of stock and launched a $500 million at-the-market offering. It suspended the offering the same day after SEC staff said they would review it, and ended it on June 18, 2020.[21][23]
  • Sale of Donlen (2020 to 2021). Hertz agreed in November 2020 to sell the Donlen fleet management business to an Athene affiliate for about $825 million in cash, subject to adjustments, and completed the sale on March 30, 2021. It recorded a $400 million gain on the sale in 2021.[18][24]
  • Emergence from bankruptcy (June 2021). The plan sponsored by Knighthead, Certares and Apollo took effect on June 30, 2021, and existing shareholders kept about 3 percent of the new equity.[8]
  • Sportsman's Warehouse term loan (August 2024). The company took a $45 million term loan from a lender group including Pathlight, bringing its total borrowing capacity to $395 million. Stone said the loan supported "our ongoing reset strategy".[36]
  • Pause in store expansion. After 15 openings in fiscal 2023, the company opened none in fiscal 2024 and one in fiscal 2025. It said it did not plan to open any stores in fiscal 2026 while it reviews its expansion strategy and puts capital into technology and debt repayment.[27][37]

Financial and market performance

Hertz

The company's results during Stone's time as chief executive were dominated by the pandemic and the bankruptcy. Total revenue fell 46 percent, from $9.78 billion in 2019 to $5.26 billion in 2020, then rose 40 percent to $7.34 billion in 2021. Net income attributable to Hertz Global moved from a loss of $1.71 billion in 2020 to a profit of $366 million in 2021.[24] Headcount fell to about 24,000 at the end of 2020 and about 23,000 at the end of 2021.[18][24] Fox Business reported that Hertz's share price closed at $0.56 on May 26, 2020, down from about $20 in late February 2020.[7]

Sportsman's Warehouse

Sportsman's Warehouse results under Stone
Fiscal year (ended) Net sales Net loss Stores at year end Employees at year end
2023 (February 3, 2024) $1.288 billion $29.0 million 146 about 5,400
2024 (February 1, 2025) $1.198 billion $33.1 million 146 about 5,100
2025 (January 31, 2026) $1.209 billion $50.1 million 147 about 4,800

Figures are from the company's annual reports on Form 10-K.[28][27][37] Fiscal 2023 included two months before Stone's arrival and an extra 53rd week. The fiscal 2025 loss included $17.8 million of impairment charges on underperforming stores.[37] The company has said that since fiscal 2023 it has seen lower revenue and run at a net loss because of pressure on consumers' discretionary spending.[37]

For the first half of fiscal 2026, to August 1, 2026, net sales rose 1.6 percent to $551.7 million and the net loss narrowed to $26.3 million. Inventory was $44.5 million lower than a year earlier, and the company reaffirmed guidance for adjusted EBITDA of $30 million to $36 million for the full year.[13] Form 4 filings show the share price at between about $1.32 and $1.47 in March to May 2026, when Stone surrendered shares to cover taxes on vesting awards.[38]

Compensation

Hertz's 2023 proxy statement reported Stone's total compensation as $2,580,049 for 2020, $12,653,169 for 2021 and $6,038,831 for 2022.[39] The 2021 figure included a $1.4 million post-emergence retention bonus, stock and option awards granted on emergence, and cash incentive payouts of $1,107,995 under the bankruptcy court-approved Key Employee Incentive Plan and $1,362,104 under a plan for the second half of 2021.[25] The 2022 figure included a $2 million transition retention bonus. Stone accepted it when he moved to the chief operating officer role in October 2021, and in exchange gave up his rights to severance.[39]

Stone's Sportsman's Warehouse employment agreement set a base salary of $1.1 million and a target annual bonus of 150 percent of salary. It also provided a $350,000 signing bonus, an inducement award of time-vesting restricted stock units worth $1.7 million, and a further $400,000 of units granted six months after he started.[1] In fiscal 2025 Stone received a salary of $1.1 million and total compensation of $1,767,183. Based on the company's results against its goals, the annual bonus program paid out at 23.3 percent of target, and Stone's bonus was $384,450.[19] Stone has bought Sportsman's Warehouse shares on the open market, including 39,920 shares in September 2024 and 59,979 shares in October 2025.[40][41] After a filing in May 2026 Stone reported holding 1,395,893 shares directly.[38]

Board memberships and outside roles

Stone was a director of Hertz Global Holdings from May 2020 to October 5, 2021, including on the board formed when the company emerged from bankruptcy.[8][9] Stone was also a director of the operating subsidiary, The Hertz Corporation, until he resigned in 2023.[3] Stone has been a director of Sportsman's Warehouse Holdings since November 2023. As an employee he is not independent and sits on none of the board's committees; the roles of chief executive and chair are held by different people.[19]

Controversies

On May 26, 2020, days after the bankruptcy filing, the company disclosed that on May 19, 2020, it had signed retention agreements with about 340 employees at director level and above and paid them about $16.2 million in cash. Stone, by then chief executive, received $700,000. The company said the payments reflected the "financial and operational uncertainty" caused by the pandemic, the extra work being done by a reduced workforce, the fact that recipients gave up the 2020 annual bonus, and the risk that key employees would leave. The bonuses had to be repaid if the recipient left voluntarily before March 31, 2021.[6] Fox Business reported the payments under the headline "Hertz doled out $16M in bonuses to top executives days before bankruptcy filing". It noted that they came after the company had furloughed or laid off about 20,000 workers, and that US bankruptcy law restricts retention payments to senior managers once a company is in Chapter 11, so companies often pay them before filing.[7]

Personal life

Stone has called himself "a lifelong outdoorsman".[14] No details of his family or private life have been published in the sources consulted.

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 <ref>"Sportsman's Warehouse Holdings, Inc. Form 8-K: Appointment of Paul Stone as Chief Executive Officer and President and Changes to the Board of Directors".U.S. Securities and Exchange Commission.September 26, 2023.Retrieved October 29, 2026.</ref>
  2. ↑ 2.0 2.1 2.2 2.3 2.4 <ref>"Hertz Global Holdings, Inc. Form 8-K: Departure and Appointment of Certain Officers".U.S. Securities and Exchange Commission.May 18, 2020.Retrieved October 29, 2026.</ref>
  3. ↑ 3.0 3.1 3.2 <ref>"Hertz Global Holdings, Inc. Form 8-K: Departure of Paul Stone".U.S. Securities and Exchange Commission.September 13, 2023.Retrieved October 29, 2026.</ref>
  4. ↑ 4.0 4.1 4.2 4.3 4.4 <ref>"Hertz Global Holdings, Inc. Announces Leadership Transition: Paul Stone Named President and CEO and a Member of the Board".Hertz Global Holdings, Inc. (Exhibit 99.1 to Form 8-K).May 18, 2020.Retrieved October 29, 2026.</ref>
  5. ↑ 5.0 5.1 5.2 5.3 5.4 5.5 <ref>"Hertz Announces New Chief Retail Operations Officer: Bolsters Leadership Team and Customer Focus with Operations Expertise from Retail Giants, Walmart and Cabela's".Hertz.February 28, 2018.Retrieved October 29, 2026.</ref>
  6. ↑ 6.0 6.1 6.2 6.3 <ref>"Hertz Global Holdings, Inc. Form 8-K: Bankruptcy or Receivership; Compensatory Arrangements of Certain Officers".U.S. Securities and Exchange Commission.May 26, 2020.Retrieved October 29, 2026.</ref>
  7. ↑ 7.0 7.1 7.2 7.3 <ref>Henney, Megan."Hertz doled out $16M in bonuses to top executives days before bankruptcy filing".May 27, 2020.Retrieved October 29, 2026.</ref>
  8. ↑ 8.0 8.1 8.2 8.3 8.4 8.5 <ref>"Hertz Global Holdings, Inc. Form 8-K: Emergence from Chapter 11".U.S. Securities and Exchange Commission.July 7, 2021.Retrieved October 29, 2026.</ref>
  9. ↑ 9.0 9.1 9.2 9.3 <ref>"Hertz Global Holdings, Inc. Form 8-K: Appointment of New Interim Chief Executive Officer; Appointment of Chief Operating Officer".U.S. Securities and Exchange Commission.October 5, 2021.Retrieved October 29, 2026.</ref>
  10. ↑ 10.0 10.1 <ref>"Sportsman's Warehouse Holdings, Inc. Announces Fourth Quarter and Fiscal Year 2023 Financial Results".Sportsman's Warehouse Holdings, Inc. (Exhibit 99.1 to Form 8-K).April 3, 2024.Retrieved October 29, 2026.</ref>
  11. ↑ 11.0 11.1 11.2 <ref>"EXEC: Sportsman's Warehouse CEO Paul Stone Talks Back Half Plan, Healthiest Inventory in Years".September 2, 2026.Retrieved October 29, 2026.</ref>
  12. ↑ 12.0 12.1 <ref>"Sportsman's Warehouse Holdings, Inc. Announces Fourth Quarter and Fiscal Year 2025 Financial Results".Sportsman's Warehouse Holdings, Inc. (Exhibit 99.1 to Form 8-K).March 31, 2026.Retrieved October 29, 2026.</ref>
  13. ↑ 13.0 13.1 13.2 <ref>"Sportsman's Warehouse Holdings, Inc. Announces Second Quarter 2026 Financial Results".Sportsman's Warehouse Holdings, Inc. (Exhibit 99.1 to Form 8-K).September 1, 2026.Retrieved October 29, 2026.</ref>
  14. ↑ 14.0 14.1 14.2 14.3 14.4 <ref>"Sportsman's Warehouse Hires CEO".VMSD.September 26, 2023.Retrieved October 29, 2026.</ref>
  15. ↑ <ref>"Cabela's Incorporated Form 8-K: Completion of Acquisition".U.S. Securities and Exchange Commission.September 25, 2017.Retrieved October 29, 2026.</ref>
  16. ↑ <ref>"Stone Paul (CIK 0001734268): filings".U.S. Securities and Exchange Commission.Retrieved October 29, 2026.</ref>
  17. ↑ <ref>"Hertz Global Holdings, Inc. Form 8-K: Costs Associated with Exit or Disposal Activities".U.S. Securities and Exchange Commission.April 20, 2020.Retrieved October 29, 2026.</ref>
  18. ↑ 18.0 18.1 18.2 18.3 18.4 18.5 <ref>"Hertz Global Holdings, Inc. Annual Report on Form 10-K for the year ended December 31, 2020".U.S. Securities and Exchange Commission.February 26, 2021.Retrieved October 29, 2026.</ref>
  19. ↑ 19.0 19.1 19.2 19.3 <ref>"Sportsman's Warehouse Holdings, Inc. 2026 Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.April 14, 2026.Retrieved October 29, 2026.</ref>
  20. ↑ <ref>"Hertz Global Holdings, Inc. Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule".U.S. Securities and Exchange Commission.June 10, 2020.Retrieved October 29, 2026.</ref>
  21. ↑ 21.0 21.1 <ref>"Hertz Global Holdings, Inc. Form 8-K: Other Events".U.S. Securities and Exchange Commission.June 12, 2020.Retrieved October 29, 2026.</ref>
  22. ↑ <ref>"Hertz Global Holdings, Inc. Form 8-K: Other Events".U.S. Securities and Exchange Commission.June 17, 2020.Retrieved October 29, 2026.</ref>
  23. ↑ 23.0 23.1 <ref>"Hertz Global Holdings, Inc. Form 8-K: Termination of ATM Program".U.S. Securities and Exchange Commission.June 18, 2020.Retrieved October 29, 2026.</ref>
  24. ↑ 24.0 24.1 24.2 24.3 24.4 24.5 <ref>"Hertz Global Holdings, Inc. Annual Report on Form 10-K for the year ended December 31, 2021".U.S. Securities and Exchange Commission.February 23, 2022.Retrieved October 29, 2026.</ref>
  25. ↑ 25.0 25.1 25.2 25.3 25.4 <ref>"Hertz Global Holdings, Inc. 2022 Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.April 8, 2022.Retrieved October 29, 2026.</ref>
  26. ↑ <ref>"Hertz Names Justin Keppy as Chief Operating Officer".Hertz Global Holdings, Inc. (Exhibit 99.1 to Form 8-K).October 24, 2023.Retrieved October 29, 2026.</ref>
  27. ↑ 27.0 27.1 27.2 27.3 <ref>"Sportsman's Warehouse Holdings, Inc. Annual Report on Form 10-K for the fiscal year ended February 1, 2025".U.S. Securities and Exchange Commission.April 2, 2025.Retrieved October 29, 2026.</ref>
  28. ↑ 28.0 28.1 <ref>"Sportsman's Warehouse Holdings, Inc. Annual Report on Form 10-K for the fiscal year ended February 3, 2024".U.S. Securities and Exchange Commission.April 4, 2024.Retrieved October 29, 2026.</ref>
  29. ↑ <ref>"Sportsman's Warehouse Holdings, Inc. Announces Third Quarter 2023 Financial Results".Sportsman's Warehouse Holdings, Inc. (Exhibit 99.1 to Form 8-K).December 6, 2023.Retrieved October 29, 2026.</ref>
  30. ↑ <ref>"Sportsman's Warehouse Holdings, Inc. Form 8-K: Departure of Directors".U.S. Securities and Exchange Commission.April 17, 2024.Retrieved October 29, 2026.</ref>
  31. ↑ <ref>"Sportsman's Warehouse Holdings, Inc. Form 8-K: Chief Financial Officer Transition".U.S. Securities and Exchange Commission.August 5, 2025.Retrieved October 29, 2026.</ref>
  32. ↑ <ref>"Sportsman's Warehouse Holdings, Inc. Announces Second Quarter 2024 Financial Results".Sportsman's Warehouse Holdings, Inc. (Exhibit 99.1 to Form 8-K).September 3, 2024.Retrieved October 29, 2026.</ref>
  33. ↑ 33.0 33.1 <ref>"Sportsman's Warehouse Holdings, Inc. Announces Fourth Quarter and Fiscal Year 2024 Financial Results".Sportsman's Warehouse Holdings, Inc. (Exhibit 99.1 to Form 8-K).April 1, 2025.Retrieved October 29, 2026.</ref>
  34. ↑ <ref>"Sportsman's Warehouse Holdings, Inc. Announces Third Quarter 2025 Financial Results".Sportsman's Warehouse Holdings, Inc. (Exhibit 99.1 to Form 8-K).December 4, 2025.Retrieved October 29, 2026.</ref>
  35. ↑ <ref>"Sportsman's Warehouse Holdings, Inc. Form 8-K: Submission of Matters to a Vote of Security Holders".U.S. Securities and Exchange Commission.May 28, 2026.Retrieved October 29, 2026.</ref>
  36. ↑ <ref>"Sportsman's Warehouse Secures $45 Million Term Loan to Strengthen its Balance Sheet and Enhance Liquidity".Sportsman's Warehouse Holdings, Inc. (Exhibit 99.1 to Form 8-K).August 1, 2024.Retrieved October 29, 2026.</ref>
  37. ↑ 37.0 37.1 37.2 37.3 <ref>"Sportsman's Warehouse Holdings, Inc. Annual Report on Form 10-K for the fiscal year ended January 31, 2026".U.S. Securities and Exchange Commission.March 31, 2026.Retrieved October 29, 2026.</ref>
  38. ↑ 38.0 38.1 <ref>"Form 4: Statement of Changes in Beneficial Ownership, Paul Stone, Sportsman's Warehouse Holdings, Inc.".U.S. Securities and Exchange Commission.May 5, 2026.Retrieved October 29, 2026.</ref>
  39. ↑ 39.0 39.1 <ref>"Hertz Global Holdings, Inc. 2023 Proxy Statement (Schedule 14A)".U.S. Securities and Exchange Commission.April 5, 2023.Retrieved October 29, 2026.</ref>
  40. ↑ <ref>"Form 4: Statement of Changes in Beneficial Ownership, Paul Stone, Sportsman's Warehouse Holdings, Inc.".U.S. Securities and Exchange Commission.September 10, 2024.Retrieved October 29, 2026.</ref>
  41. ↑ <ref>"Form 4: Statement of Changes in Beneficial Ownership, Paul Stone, Sportsman's Warehouse Holdings, Inc.".U.S. Securities and Exchange Commission.October 3, 2025.Retrieved October 29, 2026.</ref>
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