Welcome to our dedicated page for Academy Sports and Outdoors news (Ticker: ASO), a resource for investors and traders seeking the latest updates and insights on Academy Sports and Outdoors stock.
Academy Sports and Outdoors, Inc. (NASDAQ: ASO) is a premier retailer specializing in sporting goods, outdoor recreation products, and lifestyle apparel. Originally founded in 1938 as a family business in Texas, Academy has flourished into a significant market player with over 285 stores spread across 19 states. The company's mission is encapsulated in its motto, 'Fun for All.'
Academy offers a wide array of products covering key categories such as outdoor gear, sports & recreation equipment, apparel, and footwear. Customers can find top national brands like Nike, adidas, The North Face, YETI, and Carhartt, alongside exclusive private labels such as Magellan Outdoors, Freely, and BCG. The retailer is known for its commitment to providing high-quality products at everyday low prices, making it a go-to destination for active families.
In recent news, Academy has been on an aggressive expansion spree. In 2023, the company opened 14 new stores and is targeting a total of 120 to 140 new stores by the end of 2027. As part of its community outreach, Academy donated over $40,000 to local organizations during these openings. The new stores are designed to offer a localized assortment tailored to meet community needs, featuring grand opening festivities, exclusive deals, and appearances by local sports legends.
Academy Sports + Outdoors also places a strong emphasis on customer convenience. The company offers a variety of in-store services such as grill and bike assembly, scope mounting, line winding/spooling, and propane exchange. Hunting and fishing licenses can also be purchased in stores. The company's e-commerce platform, academy.com, and its mobile app provide customers with additional shopping convenience, complete with digital ads, offers, and email/text alerts.
Financially, Academy continues to show robust performance. The company recently announced its fourth quarter and fiscal 2023 financial results, with a webcast and live conference call scheduled to discuss further details. The company has also entered into an exclusive partnership with DoorDash to offer on-demand delivery from all its stores, ensuring customers can receive their purchases within an hour on average.
Academy Sports + Outdoors is committed to its mission of being a destination for families to find quality products and create lasting memories, whether shopping in-store or online.
Academy Sports + Outdoors (Nasdaq: ASO) reported its Q2 2024 financial results, showing a 2.2% decline in net sales to $1,549.0 million and comparable sales of -6.9%. The company's GAAP diluted EPS was $1.95, while adjusted diluted EPS reached $2.03. Despite challenges, Academy saw a 50 basis point expansion in gross margin and a 5% reduction in inventory units per store. The company opened one new store in Q2 and plans to open 15-17 stores in 2024. Academy revised its fiscal 2024 guidance, now expecting net sales between $5,895.0 million and $6,075.0 million, with comparable sales ranging from -6.0% to -3.0%. The company maintains a strong balance sheet and cash flow generation, which it plans to deploy towards its capital allocation strategy.
Academy Sports and Outdoors (Nasdaq: ASO) has announced a quarterly cash dividend of $0.11 per share for the fiscal quarter ended August 3, 2024. The dividend will be payable on October 17, 2024, to stockholders of record as of the close of business on September 19, 2024. This decision, approved by the company's Board of Directors, demonstrates Academy's commitment to returning value to its shareholders. The regular dividend payout suggests financial stability and confidence in the company's cash flow generation capabilities.
Academy Sports + Outdoors (Nasdaq: ASO) has announced plans to open 9 new stores in fall 2024, expanding its presence across eight states. The new locations include Beckley, West Virginia; Kingsport, Tennessee; Bloomington, Indiana; Selma, North Carolina; Ft. Myers, Florida; Birmingham, Alabama; Springfield, Ohio; Bradenton, Florida; and Bulverde, Texas. This expansion is part of Academy's goal to open 15-17 new stores in fiscal year 2024.
The new stores will offer a wide range of sports and outdoor products, including apparel, footwear, equipment, and gear from top national brands and Academy's private label brands. Customers can also benefit from free services such as grill and bike assembly, scope mounting, and propane exchange. The company aims to provide convenience and value to both existing and new customers in these markets.
Academy Sports and Outdoors (Nasdaq: ASO) has announced its plans to release second quarter fiscal 2024 financial results on Tuesday, September 10, 2024, before the market opens. The company will host a live conference call at 10:00 a.m. Eastern Time to discuss these results. Interested participants can join the call by dialing 1-877-407-3982 (U.S.) or 1-201-493-6780 (International) using the passcode 13748429. A webcast of the call will be available on the company's investor relations website. Both a telephonic replay and webcast replay will be accessible for approximately 30 days following the call.
Academy Sports + Outdoors (Nasdaq: ASO) announced its first-quarter 2024 results, highlighting a 1.4% decline in net sales and a 5.7% drop in comparable sales. The company reported GAAP diluted EPS of $1.01 and adjusted diluted EPS of $1.08. Despite the challenges, Academy opened two new stores and returned $132 million to shareholders via share repurchases and dividends. Net income stood at $76.5 million, down 18.6% from the previous year. The company reiterated its sales and net income guidance for 2024 but adjusted its EPS forecast due to share repurchases. The company also generated $200 million in cash from operations and invested $32 million back into the business.
Academy Sports + Outdoors (Nasdaq: ASO) announced an exclusive partnership with DoorDash (Nasdaq: DASH) to offer on-demand delivery from Academy's 285 stores across 19 states. This service allows customers to order apparel, footwear, sporting goods, and outdoor recreation equipment through the DoorDash app for same-day delivery, averaging under an hour.
The partnership coincides with the upcoming Back-to-School season, aiming to provide a convenient shopping experience. Items from Academy Sports + Outdoors will also be available for DashPass members, who enjoy $0 delivery fees and reduced service fees on eligible orders.
Chad Fox, Executive Vice President and Chief Customer Officer, highlighted that this collaboration will help customers get the gear they need faster, enhancing their overall experience.
Academy Sports and Outdoors announced on June 6, 2024, that its Board of Directors approved a quarterly cash dividend of $0.11 per share for the fiscal quarter ending May 4, 2024.
The dividend will be paid on July 18, 2024, to shareholders who are on record by June 20, 2024.
Academy Sports and Outdoors has appointed Scott Boatwright to its Board of Directors, effective immediately, increasing the total number of directors to 11. Chairman Ken Hicks highlighted Boatwright's extensive experience in productivity, operational excellence, and customer engagement as valuable assets for Academy's growth strategy.
Boatwright brings nearly 30 years of industry experience, currently serving as COO at Chipotle Mexican Grill since May 2023, and previously held various senior roles at Chipotle and Arby's Restaurant Group. He holds an MBA from Georgia State University.
Academy Sports and Outdoors announced its participation in the upcoming Oppenheimer 24th Annual Consumer Growth Conference on June 12, 2024. The event will be held virtually and will feature a fireside chat at 10:30 a.m. Eastern Time, hosted by CEO Steve Lawrence and CFO Carl Ford. Small group meetings are also scheduled. A live and replay webcast of the fireside chat will be accessible for 30 days on the Company's investor relations website.
Academy Sports and Outdoors (Nasdaq: ASO), a leading retailer in sporting goods and outdoor recreation, will release its first quarter fiscal 2024 financial results before the market opens on June 11, 2024.
The company will host a live conference call at 10:00 a.m. Eastern Time on the same day to discuss the results.
Participants can access the live call by dialing specific numbers or via webcast on the company's website. A replay of the call will be available for 30 days.
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