Academy Sports and Outdoors, Inc. - ASO STOCK NEWS

Academy Sports and Outdoors (ASO) will replace Kraton (KRA) in the S&P SmallCap 600 index effective March 16, 2022. This change follows DL Chemical's acquisition of Kraton, which is expected to finalize on March 15. As a result, ASO will be added to the index while KRA will be removed. This shift highlights ASO's growing presence in the consumer discretionary sector.

Academy Sports and Outdoors (Nasdaq: ASO) has declared its inaugural quarterly cash dividend of $0.075 per share for the quarter ended January 29, 2022. This dividend will be payable on April 14, 2022, to stockholders of record as of March 17, 2022. The Board aims to support shareholder value through dividends and a stock repurchase program, demonstrating confidence in the company's growth strategies. Future dividend declarations will depend on the company's financial health and market conditions.

Academy Sports + Outdoors (Nasdaq: ASO) is expanding its private-label activewear collection, Freely, to include girls' apparel. Launched in 2021, Freely now offers new styles for Women, Women's Plus, and girls for the spring season, featuring matching sets and options ranging from $14.99 to $39.99. Over one-third of items utilize recycled materials, supporting sustainability. Customers can shop these items both online and in all 259 Academy stores across 16 states, promoting a mission to empower women and girls through versatile and stylish activewear.

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.