Academy Sports and Outdoors, Inc. - ASO STOCK NEWS

Leupold & Stevens, Inc. announced the sale of its Redfield brand to Academy Sports + Outdoors (NASDAQ: ASO) on April 13, 2021. This strategic move aims to strengthen the Leupold brand while allowing Academy to develop and sell sports optics under Redfield exclusively. Leupold will continue to honor warranty obligations for existing Redfield products. Academy, a leading U.S. sporting goods retailer with 259 stores, enhances its exclusive brand portfolio, which includes several well-known outdoor brands.

Academy Sports and Outdoors (NASDAQ: ASO) will participate in the virtual J.P. Morgan 7th Annual Retail Round-Up on April 14, 2021, at 1:00 PM CT. A replay will be accessible for 30 days on their investor website. Founded in 1938, Academy has become a leading sporting goods retailer in the U.S., operating 259 stores across 16 states. The company focuses on providing a diverse range of outdoor and sporting goods, featuring both national brands and 19 private label brands.

Academy Sports and Outdoors (NASDQ: ASO) reported strong financial results for Q4 and the fiscal year ending January 30, 2021. Net sales rose 16.6% to $1.60 billion, with comparable sales increasing 16.1%. E-commerce sales saw a significant growth of 60.7%. The gross profit surged 34.7% to $499.1 million, resulting in a gross margin rate of 31.2%. Net income skyrocketed 416% to $91.5 million, translating to diluted EPS of $0.97. For FY 2020, net income reached $308.8 million, a 157.2% increase from 2019. Looking ahead, Academy forecasts a slight decrease in comparable sales for 2021 by 2%.

Academy Sports + Outdoors (NASDAQ: ASO) will release its fourth quarter and fiscal 2020 results on March 30, 2021, before market opening. A live conference call to discuss these results is scheduled for 11:00 a.m. ET on the same day. Interested participants can access the call by dialing 1-877-407-3982 (U.S.) or 1-201-493-6780 (International) with passcode 13717292. The call will also be available via webcast on the Company's investor relations website. Additionally, a replay of the call will be accessible for 30 days post-event.

Academy Sports and Outdoors (NASDAQ: ASO) announces the appointment of Tom M. Nealon to its Board of Directors as of March 3, 2021. With over 20 years of experience in retail and consumer sectors, Nealon's expertise spans his roles at Southwest Airlines and J.C. Penney. Academy's Chairman, Ken C. Hicks, expressed confidence in Nealon’s strategic insight to help expand the brand's loyalty and growth strategy nationwide. Academy operates 259 stores across 16 states, focusing on outdoor recreation and sports, with a mission to provide 'Fun for All.'

Academy Sports and Outdoors has priced a secondary offering of 12 million shares at $21.50 each, with proceeds going to selling stockholders, including KKR affiliates. The underwriters also have a 30-day option to purchase an additional 1.8 million shares. No Academy shares are being sold directly. The offering is set to close on February 1, 2021. Credit Suisse, J.P. Morgan, and others are leading the offering. This move is structured under a registration statement declared effective by the SEC.

On January 27, 2021, Academy Sports and Outdoors (NASDAQ: ASO) announced a $150,000 donation to St. Jude Children's Research Hospital, generated through sales of holiday-themed t-shirts. For each shirt sold, 25% of the purchase price was donated to support St. Jude's mission. This initiative involved exclusive designs and was available in all 259 Academy stores and online. Academy's CEO, Ken C. Hicks, emphasized the importance of giving back during challenging times, thanking customers for their support.

Academy Sports and Outdoors (NASDAQ: ASO) announced a secondary offering of 12 million shares by certain stockholders, including Kohlberg Kravis Roberts & Co. The Selling Stockholders are expected to grant underwriters a 30-day option to purchase an additional 1.8 million shares. Academy itself is not selling any shares and will not receive proceeds from the offering. Credit Suisse, J.P. Morgan, KKR Capital Markets, and BofA Securities are managing the offering. A registration statement has been filed with the SEC but is not yet effective.

Academy Sports and Outdoors (ASO) reported robust financial results for Q3 2020, with net sales reaching $1.35 billion, a 17.8% increase year-over-year. Comparable sales rose 16.5%. The company saw net income of $59.6 million, or $0.74 per diluted share, marking a 109% growth. Pro Forma Adjusted Net Income also showed a substantial increase of 188% to $73.7 million. The gross margin improved to 32.7% while SG&A expenses as a percentage of sales decreased. E-commerce sales surged 95.9% compared to the previous year, indicating a strong performance despite challenges.