Academy Sports + Outdoors Expands Footprint with Five New Stores

Rhea-AI Summary

Academy Sports + Outdoors (Nasdaq: ASO) concluded 2024 with five new store openings in Bradenton and Yulee, Florida; Searcy, Arkansas; Meridian, Mississippi; and Corsicana, Texas. The company expanded its footprint with a total of 16 new stores across 10 states in 2024, including its first locations in Ohio. Academy donated over $25,000 to local non-profits in these communities. The stores offer sporting goods, outdoor recreation equipment, apparel, and footwear from national brands and private labels, along with free services like grill assembly and scope mounting.

Positive

• Significant retail expansion with 16 new stores in 2024
• Geographic diversification into new markets, including Ohio
• Enhanced market presence in 10 different states

Negative

• None.

Insights

Market Research Analyst

The expansion of 16 new stores in fiscal 2024, including five recent openings, represents significant growth for Academy Sports + Outdoors. The company's strategic expansion into new markets, particularly its first entry into Ohio, demonstrates strong execution of its growth strategy. The focus on localized assortments and value-based offerings positions ASO well against competitors in the sporting goods retail space.

The expansion carries meaningful implications for revenue growth potential, though it also involves substantial capital investment and operating costs. Based on typical sporting goods store metrics, these 16 new locations could potentially generate $80-120 million in additional annual revenue once fully ramped. The company's emphasis on private label brands like Magellan Outdoors and partnerships with premium brands suggests healthy margin potential.

The myAcademy rewards program launch alongside expansion indicates a focus on customer retention and data-driven growth. This multi-channel approach combining physical expansion with digital engagement represents sound retail strategy in today's market.

Academy opened 16 new stores in fiscal 2024 helping customers to have fun out there

KATY, Texas, Dec. 3, 2024 /PRNewswire/ -- Academy Sports + Outdoors ("Academy") (Nasdaq: ASO), a leading full-line sporting goods and outdoor recreation retailer, wrapped up 2024 with five new stores in Bradenton, Fla.; Yulee, Fla.; Searcy, Ark.; Meridian, Miss.; and Corsicana, Texas. As part of its commitment and investment in these local communities, Academy donated more than $25,000 in total to local non-profit organizations to help residents and families have more fun.

"Just in time for the holidays, Academy Sports + Outdoors is excited to provide more customers with a new destination to find a localized assortment of gifts and merchandise that help their family and friends have fun out there," said Eric Friederich, senior vice president of retail operations at Academy Sports + Outdoors. "These new stores are enabling us to grow, and we're excited to serve the needs of young active families while also helping to create lasting memories."

2024 Q4 New Store Opening Locations

Bradenton, Florida

Yulee, Florida

Searcy, Arkansas

Meridian, Mississippi

Corsicana, Texas

 

Overall, Academy continued its expansion in 2024 by opening 16 new stores across 10 different states, including its first locations in Ohio.

Every Academy store is a fun destination where families can find apparel, footwear, sports and camping equipment, hunting and fishing gear, outdoor cooking, and more from top national brands at an everyday value. Academy also offers free services such as grill and bike assembly, scope mounting, bore sighting, line winding/spooling, and propane exchange. Hunting and fishing licenses are also available to purchase in stores.

Additionally, Academy offers tremendous value and quality through its exclusive, private label brands such as Magellan Outdoors, Freely, R.O.W., BCG, H2OX, Redfield, and Mosaic, which offer great choices for outdoor apparel and equipment, women's and men's apparel, workout attire, fishing equipment, hunting optics and accessories, and outdoor furniture, respectively.

Customers can find the best assortment of athletic and casual shoes, sports and outdoors equipment, and clothing from top national brands such as Nike, adidas, L.L.Bean, Carhartt, YETI, Stanley, Marucci, Titleist, Shimano, Brooks, Blackstone, Owala and more, in-store, online, and through the Academy mobile app.

Customers are invited to sign-up for Academy's rewards program, myAcademy, which includes a 10% welcome offer, lower free shipping minimum ($25), insider access to personalized offers, deals and products, faster online and in-app checkout, and an annual birthday reward. See Terms for more details.

Individuals interested in careers at Academy can visit careers.academy.com to apply for open positions.

About Academy Sports + Outdoors
Academy is a leading full-line sporting goods and outdoor recreation retailer in the United States. Originally founded in 1938 as a family business in Texas, Academy has grown to 298 stores across 19 states. Academy's mission is to provide "Fun for All" and Academy fulfills this mission with a localized merchandising strategy and value proposition that strongly connects with a broad range of consumers. Academy's product assortment focuses on key categories of outdoor, apparel, sports & recreation and footwear through both leading national brands and a portfolio of private label brands. For more information, visit www.academy.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Academy's current expectations and are not guarantees of future performance. Forward-looking statements are usually identified by or are associated with such words as "intends," "will," "plan," "believe," "expect," "may," and/or the negatives or variations of these terms or similar terminology.  Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Academy's control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Academy's filings with the U.S. Securities and Exchange Commission (the "SEC"), including Academy's Annual Report on Form 10-K under the caption "Risk Factors," as may be updated from time to time in our periodic filings with the SEC. Any forward-looking statement in this press release speaks only as of the date released. Academy undertakes no obligation to publicly update or revise any forward-looking statement, except as may be required by any applicable securities laws.

Media Contact: Shane Carlisle, Public Relations Manager, shane.carlisle@academy.com

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SOURCE Academy Sports + Outdoors

FAQ

How many new stores did Academy Sports (ASO) open in 2024?

Academy Sports + Outdoors opened 16 new stores across 10 different states in 2024.

Where are Academy Sports' (ASO) newest store locations in Q4 2024?

Academy Sports opened five new stores in Q4 2024 in Bradenton, FL; Yulee, FL; Searcy, AR; Meridian, MS; and Corsicana, TX.

What services does Academy Sports (ASO) offer for free in its stores?

Academy Sports offers free grill and bike assembly, scope mounting, bore sighting, line winding/spooling, and propane exchange services.

What is the welcome offer for Academy Sports' (ASO) myAcademy rewards program?

The myAcademy rewards program offers a 10% welcome offer, lower free shipping minimum ($25), and insider access to personalized offers and deals.