Academy Sports and Outdoors lowers guidance amid consumer pressures from 'tough' economy [Seeking Alpha]
Academy Sports and Outdoors, Inc. (ASO)
Company Research
Source: Seeking Alpha
Sales for the quarter were more challenging than expected, impacted by a tough economy, a temporary distribution center backlog related to going live with a new warehouse management system, and by a very active storm season across key portions of ASO's footprint. Revenue fell 2.2% year-over-year to $1.55 billion for the quarter that ended on August 3. Comparable sales were down 6.9% during the quarter against a soft comparison to a year ago, when they were down 7.5%. "Academy continues to make progress against our strategic initiatives demonstrated by the opening of nine new stores this upcoming quarter, new omni-channel enhancements, such as Door Dash, and leveraging customer excitement around the launch of our new loyalty program. In addition, our inventory discipline drove gross margin expansion of 50 basis points and a 5% reduction in units per store," highlighted CEO Steve Lawrence. The retailer reported net income of $142.6 million vs. $157.1 million a year ago. EPS came in
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ASO
News
- Academy Sports and Outdoors, Inc. (NASDAQ: ASO) was downgraded by analysts at Truist Financial Co. from a "buy" rating to a "hold" rating. They now have a $50.00 price target on the stock, down previously from $63.00.MarketBeat
- Sports Equipment Retail Global Industry Guide 2024: Key Financial Metrics, Competitive Pressures Analysis, Volume and Forecasts 2018-2028 [Yahoo! Finance]Yahoo! Finance
- Academy Sports and Outdoors, Inc. (NASDAQ: ASO) was downgraded by analysts at Evercore ISI from an "outperform" rating to an "in-line" rating. They now have a $60.00 price target on the stock, down previously from $65.00.MarketBeat
- New Strong Sell Stocks for September 25th [Yahoo! Finance]Yahoo! Finance
- Academy Sports and Outdoors: Strong Buy While Sentiment Remains Low [Seeking Alpha]Seeking Alpha
ASO
Earnings
- 9/10/24 - Beat
ASO
Sec Filings
- 10/31/24 - Form 4
- 9/30/24 - Form 4
- 9/19/24 - Form 4
- ASO's page on the SEC website