Academy Sports & Outdoors, Inc. Stock Price, News & Analysis

Academy Sports and Outdoors, Inc. (ASO) announced plans to open at least eight new stores in 2022, expanding its presence in Florida, Georgia, Indiana, Kentucky, Texas, Virginia, and West Virginia. This will increase Academy's total store count to 267 across 18 states. The new stores aim to enhance customer convenience and provide a wide variety of sporting goods and outdoor gear. Academy expects the openings to create nearly 500 new jobs and also enhance shopping experiences with services such as curbside pick-up and free shipping on orders over $25.

Academy Sports and Outdoors, Inc. (Nasdaq: ASO) has appointed Chris Turner to its Board of Directors and Audit Committee, expanding the Board to ten directors. Turner brings over 20 years of experience in strategy, finance, and operations from leading consumer brands. He is currently CFO of Yum! Brands and has previously held significant roles at PepsiCo and McKinsey & Company. Academy's Chairman, Ken C. Hicks, emphasized Turner's extensive background and passion for the brand as assets for the Board. Academy operates 259 stores across 16 states, focusing on a wide array of sporting goods and outdoor recreational products.

Academy Sports and Outdoors reported a record third-quarter net sales of $1.59 billion, up 18.1% year-over-year, with a remarkable 39.1% growth compared to 2019. Pre-tax income surged 251.6% to $205.3 million. The company raised its full-year diluted GAAP EPS guidance to $6.75-$6.85, up from $5.45-$5.80. Comparable sales increased by 17.9%, marking nine consecutive quarters of growth. E-commerce sales rose 25.9% annually. Year-to-date sales reached $4.96 billion, a 21.3% increase, with gross margins improving by 540 basis points to 35.6%.

Academy Sports and Outdoors (Nasdaq: ASO) will announce its third-quarter fiscal 2021 financial results on December 10, 2021, before market opening. A conference call will follow at 11:00 a.m. ET to discuss the results, accessible via phone or on the company website. Academy operates 259 stores across 16 states, focusing on outdoor, apparel, sports and recreation, and footwear. The company aims to provide a strong value proposition through its national brands and 19 private label brands, enhancing consumer connection.

Academy Sports + Outdoors celebrates National First Responders Day with over $100,000 in donations to nine first responder organizations and eleven local chapters of National PAL. This marks the third consecutive year of charitable contributions honoring first responders. Furthermore, Academy is offering a 10% discount to first responders, military personnel, and veterans until November 14. In September, Academy became the official sporting goods retailer for National PAL, facilitating positive community engagements.

Academy Sports and Outdoors (ASO) announced the pricing for a secondary offering of 18,645,602 shares at $44.75 each by its stockholders, affiliates of Kohlberg Kravis Roberts & Co. The company will repurchase 4,500,000 shares at about $43.52 per share, totaling approximately $200 million, as part of its $500 million share repurchase program. The offering is expected to close on September 17, 2021. The proceeds will go to the selling stockholders, and Academy will retire the repurchased shares.

Academy Sports and Outdoors (NASDAQ: ASO) announced a secondary offering of 18,645,602 shares by certain stockholders associated with Kohlberg Kravis Roberts & Co. Proceeds will go entirely to these Selling Stockholders, with Academy not selling any shares. Post-offering, Academy intends to repurchase up to $200 million of its shares from the underwriters, part of a broader $500 million share repurchase program. The offering is subject to regulatory approval, and no shares will be sold until the registration statement becomes effective.

Academy Sports and Outdoors (ASO) reported a significant financial performance for Q2 2021, with net sales up 11.5% to $1.79 billion, an all-time high. Year-to-date, net sales increased 22.9% to $3.37 billion. Pre-tax income saw a 42.8% rise to $240.9 million, while diluted EPS was $1.99. The company also announced a new $500 million share repurchase program, reflecting confidence in its future. For FY 2021, ASO raised its EPS guidance to a range of $5.45 to $5.80, indicating a positive outlook amidst a dynamic market.

Academy Sports and Outdoors (ASO) will release its second quarter fiscal 2021 financial results before the market opens on September 9, 2021. A live conference call is scheduled for 11:00 a.m. ET on the same day, with access available via phone or through a webcast on the company's investor relations website. The company has expanded to 259 stores across 16 states, focusing on outdoor, apparel, sports & recreation, and footwear products through national brands and 19 private label brands. A replay of the call will be available for 30 days.