The Presidents' Forum
March 10, 2005

Stuart B. Utgaard
CEO & Chairman of the Board
Sportsman's Warehouse

Speaker Biography:
Stu holds a BA in Economics from Augsburg College and a MA in Industrial Relations from the University of Minnesota. Prior to entering the sporting goods industry on November 1, 1996, he worked as a corporate growth consultant. During his career as an intermediary, he initiated 108 transactions valued in excess of $1.7 billion in terms of invested capital. Locally, he initiated the acquisition of Sunset Sports Center and Udisco by Malone & Hyde, and also sold Wolfe’s to Malone and Hyde.

Sportsman’s Warehouse has enjoyed dynamic growth under his leadership. The firm’s premises have grown from 26,000 square feet to more than 2 million square feet. Employment has grown from 62 people in 1 store to nearly 3,000 associates in 30 stores, distribution and support staff. The firm estimates that total employment will approximate 4,600 people by the end of 2005. Sales have grown from approximately $12 million in 1996 to a projected $550 million in 2005 from the projected 47 stores at years end. Earnings have grown at comparable rates. Today, Sportsman’s Warehouse is a rapidly growing, highly profitable retailer of outdoor gear.

Three prominent Rocky Mountain businessmen serve on the firm’s Board of Director’s; Larry H. Miller (Utah Jazz / car dealerships), Jonathan Scott (Former CEO of Albertson’s, the Great A&P, Lucky Stores and American Stores), and Robert Bolinder (former President of Albertson, Executive Vice President and CFO of Smith’s and CFO of HEB). In 2004, Stu was named co-recipient of Ernst and Young’s Entrepreneur of the Year Award in the retail category in Utah, and Retail Information News recognized Sportsman’s Warehouse as Retailer of the Year in the quick growth category.

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