SHARPE
Reported results
- Net sales of $1,489.2 million increased 0.05% year-over-year; comparable sales increased 0.6%
- Gross profit increased to $591.1 million with gross margin rate of 39.7% vs. 39.3% prior year (GAAP)
- Operating income increased 11.1% to $47.8 million with operating margin of 3.2% vs. 2.9% prior year (GAAP)
- Net income increased to $38.7 million vs. $14.0 million prior year (GAAP)
- Adjusted EBITDA was $122.2 million vs. $113.9 million prior year (non-GAAP); without tariff refund benefit, normalized Adjusted EBITDA was $115.4 million
- Company closed 1 net store, ending quarter with 1,377 stores
Guidance
- Full Year 2026 net sales: flat to up 1.5% year-over-year
- Full Year 2026 Adjusted EBITDA (non-GAAP): $415 million to $430 million
- Full Year 2026 net interest expense: ~$122 million
- Full Year 2026 capital expenditures: ~$140 million
- Full Year 2026 depreciation & amortization: ~$200 million
- Full Year 2026 net store closures: ~15-20
- Q3 2026 net sales growth: 0.4% to 1.0%
- Q3 2026 Adjusted EBITDA (non-GAAP): $100 million to $103 million
Notes
Q2 2026 results include net benefit of $6.8 million from IEEPA tariff refunds related to tariffs paid in 2025 and 2026, representing proceeds net of investments in assortment repositioning and offsetting incremental fuel and tariff expense. Full-year outlook includes this $6.8 million net benefit and assumes no additional IEEPA tariff refunds for the balance of the year. Subsequent to Q2, company prepaid $75 million in debt, bringing total prepayments to $170 million in the past nine months.
Price and volatility reaction
The stock moved -4.2% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -18.1 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 2.63 | 2026-09-02 |
| Close after release | 2.52 | 2026-09-03 |
| Realised move | -4.2% | close to close |
| 30d ATM IV change | -18.1 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-09-02 (8-K, Item 2.02). Read the original filing on sec.gov.