The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Sportsman's Warehouse (NASDAQ: SPWH) and the rest of the specialty retail stocks fared in Q1.

Some retailers try to sell everything under the sun, while others—appropriately called Specialty Retailers—focus on selling a narrow category and aiming to be exceptional at it. Whether it’s eyeglasses, sporting goods, or beauty and cosmetics, these stores win with depth of product in their category as well as in-store expertise and guidance for shoppers who need it. E-commerce competition exists and waning retail foot traffic impacts these retailers, but the magnitude of the headwinds depends on what they sell and what extra value they provide in their stores.

The 7 specialty retail stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 1.3% while next quarter’s revenue guidance was 0.6% below.

Thankfully, share prices of the companies have been resilient as they are up 7.5% on average since the latest earnings results.

Sportsman's Warehouse (NASDAQ: SPWH)

A go-to destination for individuals passionate about hunting, fishing, camping, hiking, shooting sports, and more, Sportsman's Warehouse (NASDAQ: SPWH) is an American specialty retailer offering a diverse range of active gear, equipment, and apparel.

Sportsman's Warehouse reported revenues of $256.1 million, up 2.8% year on year. This print exceeded analysts’ expectations by 1.2%. Overall, it was a very strong quarter for the company with a beat of analysts’ EPS and EBITDA estimates.

“I’m pleased with our first quarter performance, as same store sales increased 2.1% compared to last year, despite continued consumer economic pressure and higher fuel prices,” said Paul Stone, President and Chief Executive Officer of Sportsman’s Warehouse.

Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 11.7% since reporting and currently trades at $1.25.

Is now the time to buy Sportsman's Warehouse? Access our full analysis of the earnings results here, it’s free.

Best Q1: Bath and Body Works (NYSE: BBWI)

Spun off from L Brands in 2020, Bath & Body Works (NYSE: BBWI) is a personal care and home fragrance retailer where consumers can find specialty shower gels, scented candles for the home, and lotions.

Bath and Body Works reported revenues of $1.38 billion, down 3.2% year on year, outperforming analysts’ expectations by 1.2%. The business had an exceptional quarter with EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

Bath and Body Works scored the highest guidance raise among its peers. The market seems happy with the results as the stock is up 16.5% since reporting. It currently trades at $20.66.

Is now the time to buy Bath and Body Works? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: Sally Beauty (NYSE: SBH)

Catering to both everyday consumers as well as salon professionals, Sally Beauty (NYSE: SBH) is a retailer that sells salon-quality beauty products such as makeup and haircare products.

Sally Beauty reported revenues of $903.4 million, up 2.3% year on year, in line with analysts’ expectations. It was a mixed quarter as it posted a solid beat of analysts’ EBITDA estimates but EPS guidance for next quarter missing analysts’ expectations significantly.

Sally Beauty delivered the weakest performance against analyst estimates and weakest guidance update in the group. Interestingly, the stock is up 5.8% since the results and currently trades at $14.85.

Read our full analysis of Sally Beauty’s results here.

Dick's (NYSE: DKS)

Started as a hunting supply store, Dick’s Sporting Goods (NYSE: DKS) is a retailer that sells merchandise for traditional sports as well as for fitness and outdoor activities.

Dick's reported revenues of $5.16 billion, up 62.7% year on year. This print topped analysts’ expectations by 2.1%. More broadly, it was a mixed quarter as it recorded full-year EPS guidance missing analysts’ expectations.

Dick's delivered the biggest analyst estimate beat, fastest revenue growth, and highest full-year guidance raise of the whole group. The stock is down 10.5% since reporting and currently trades at $208.60.

Read our full, actionable report on Dick's here, it’s free.

Best Buy (NYSE: BBY)

With humble beginnings as a stereo equipment seller, Best Buy (NYSE: BBY) now sells a broad selection of consumer electronics, appliances, and home office products.

Best Buy reported revenues of $8.94 billion, up 1.9% year on year. This result beat analysts’ expectations by 1.3%. Zooming out, it was a mixed quarter as it also logged a beat of analysts’ EPS estimates but full-year EPS guidance slightly missing analysts’ expectations.

The stock is up 31.7% since reporting and currently trades at $85.00.

Read our full, actionable report on Best Buy here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.