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

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.

Academy Sports and Outdoors (Nasdaq: ASO) has announced its upcoming third quarter fiscal 2024 financial results release, scheduled for Tuesday, December 10, 2024, before market opening. The company will host a live conference call at 10:00 a.m. Eastern Time to discuss the results. Investors can join via phone (1-877-407-3982 U.S. or 1-201-493-6780 International) using passcode 13750156, or through the webcast at investors.academy.com. Both the telephonic replay and webcast recording will be available for approximately 30 days after the call.

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.