{"id":858959,"date":"2025-06-10T08:41:31","date_gmt":"2025-06-10T12:41:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/academy-sports-outdoors-reports-first-quarter-fiscal-2025-results\/"},"modified":"2025-06-10T08:41:31","modified_gmt":"2025-06-10T12:41:31","slug":"academy-sports-outdoors-reports-first-quarter-fiscal-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/academy-sports-outdoors-reports-first-quarter-fiscal-2025-results\/","title":{"rendered":"Academy Sports + Outdoors Reports First Quarter Fiscal 2025 Results"},"content":{"rendered":"
\n

\n First Quarter Sales Decline (0.9)%; Comparable Sales Declined <\/em>
\n (3.7)%<\/em>\n <\/p>\n

\n eCommerce Sales Increase 10.2%; New Stores Continue to Comp Positive Low Single Digits<\/em>\n <\/p>\n

\n First Quarter Diluted GAAP EPS of $0.68; Returned $108M to Shareholders through Share Buy Backs and Dividends<\/em>\n <\/p>\n

\n Opened Five New Stores in Pennsylvania, Maryland, Missouri and North Carolina<\/em>\n <\/p>\n

\n Company Revises Guidance to Account For Multiple Tariff Scenarios While Maintaining High End<\/em>\n <\/p>\n

KATY, Texas, June 10, 2025 (GLOBE NEWSWIRE) — Academy Sports and Outdoors, Inc. (Nasdaq: ASO) (“Academy” or the “Company”) today announced its financial results for the first quarter ended May 3, 2025.<\/p>\n

\u201cDuring the first quarter we saw continued progress across our strategic initiatives, including the opening of five new stores, and the biggest brand launch in the Company’s history with the addition of the Jordan Brand,\u201d said Steve Lawrence, Chief Executive Officer. \u201cWe saw sequential improvement across each month of the quarter, despite a choppy macro-economic backdrop, which resulted in a positive comp in April. Moving forward we are balancing our optimism about our strategic initiatives against the uncertain environment that our customers will face in the back half of the year. As a result of this, we are widening our annual comp sales guidance range to -4% to +1% to account for a potential downside that may be created by inflationary pressures the remainder of the year. Our team has performed extensive work to mitigate tariff pressures at the current levels and we will remain nimble as the situation evolves. We continue to see strong growth in traffic from higher income consumers, and we believe our focus on remaining the value player in our space will allow us to continue to take market share as we move through the year.”<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n First Quarter Operating Results<\/strong>
\n
\n ($ in millions, except per share data)<\/strong><\/p>\n<\/td>\n		\n Thirteen Weeks Ended<\/strong>\n <\/td>\n\n Change<\/strong>\n <\/td>\n<\/tr>\n
\n May 3, 2025<\/strong>\n <\/td>\n\n May 4, 2024<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
Net sales<\/td>\n$<\/td>\n1,351.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,364.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.9<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
Comparable sales<\/td>\n\u00a0<\/td>\n(3.7<\/td>\n)<\/td>\n%<\/td>\n\u00a0<\/td>\n(5.7<\/td>\n)<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income before income tax<\/td>\n$<\/td>\n63.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n97.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(35.5<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
Net income<\/td>\n$<\/td>\n46.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n76.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(39.7<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
Adjusted net income(1)<\/sup><\/td>\n$<\/td>\n51.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n81.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(36.8<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
Earnings per common share, diluted<\/td>\n$<\/td>\n0.68<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(32.7<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
Adjusted earnings per common share, diluted(1)<\/sup><\/td>\n$<\/td>\n0.76<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29.6<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

(1) Adjusted net income and adjusted earnings per common share (EPS), diluted are non-GAAP measures. See “Non-GAAP Measures” and “Reconciliations of GAAP to Non-GAAP Financial Measures” below for reconciliations of non-GAAP financial measures to their most directly comparable GAAP financial measures.<\/p>\n

\n \n <\/p>\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Thirteen Weeks Ended<\/strong>\n <\/td>\n\n Change<\/strong>\n <\/td>\n<\/tr>\n
\n Balance Sheet\u00a0<\/strong>
\n ($ in millions)<\/strong>\n <\/td>\n		\n May 3, 2025<\/strong>\n <\/td>\n\n May 4, 2024<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n$<\/td>\n285.1<\/td>\n$<\/td>\n378.1<\/td>\n(24.6<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
Merchandise inventories, net(1)<\/sup><\/td>\n$<\/td>\n1,560.0<\/td>\n$<\/td>\n1,356.8<\/td>\n15.0<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
Long-term debt, net<\/td>\n$<\/td>\n482.2<\/td>\n$<\/td>\n484.1<\/td>\n(0.4<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n (1)<\/sup>As of May 3, 2025 inventory per store was up 6.5% in units and 7.8% in dollars.<\/p>\n

\n \n <\/p>\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Thirteen Weeks Ended<\/strong>\n <\/td>\n\n Change<\/strong>\n <\/td>\n<\/tr>\n
\n Capital Allocation\u00a0<\/strong>
\n ($ in millions)<\/strong>\n <\/td>\n		\n May 3, 2025<\/strong>\n <\/td>\n\n May 4, 2024<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n<\/tr>\n
Share repurchases<\/td>\n$<\/td>\n99.9<\/td>\n$<\/td>\n123.5<\/td>\n(19.1<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
Dividends paid<\/td>\n$<\/td>\n8.7<\/td>\n$<\/td>\n8.2<\/td>\n6.1<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n

Subsequent to the end of the first quarter, on June 5, 2025, Academy announced its Board of Directors declared a quarterly cash dividend with respect to the quarter ended May 3, 2025, of $0.13 per share of common stock. The dividend is payable on July 17, 2025, to stockholders of record as of the close of business on June 19, 2025.<\/p>\n

\n
\n New Store Openings<\/u>
\n <\/strong>
\n
Academy opened five new stores, bringing its total to 303 locations, and expanded into two new states, Pennsylvania and Maryland, during the first quarter. The addition of these two new states takes the Company’s footprint to 21 total states. The Company plans to open a total of 20 to 25 stores in fiscal 2025.<\/p>\n

\n
\n Academy Store Footprint Update<\/u>
\n <\/strong>\n <\/p>\n\n\n\n\n
Time Frame<\/td>\nTotal stores open at beginning of the period<\/td>\nNumber of stores opened during the period<\/td>\nNumber of stores closed during the period<\/td>\nTotal stores open at end of period<\/td>\n<\/tr>\n
FY 2024<\/td>\n282<\/td>\n16<\/td>\n\u2014<\/td>\n298<\/td>\n<\/tr>\n
1st Quarter 2025<\/td>\n298<\/td>\n5<\/td>\n\u2014<\/td>\n303<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n
Time Frame (in thousands)<\/td>\nTotal gross square feet open at beginning of the period<\/td>\nGross square feet for stores opened during the period<\/td>\nGross square feet for stores closed during the period<\/td>\nTotal gross square feet at the end of the period<\/td>\n<\/tr>\n
FY 2024<\/td>\n19,679<\/td>\n925<\/td>\n\u2014<\/td>\n20,604<\/td>\n<\/tr>\n
1st Quarter 2025<\/td>\n20,604<\/td>\n275<\/td>\n\u2014<\/td>\n20,879<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n
\n <\/u>
\n <\/strong>\n <\/p>\n

\n
\n Tariff Mitigation Actions<\/u>
\n <\/strong>
\n
The Company has worked diligently over the past several years to reduce exposure to China and to diversify its supply chain by entering into arrangements with trusted suppliers in other countries. The Company has reduced its cost exposure to approximately 9% of total cost of goods sold directly related to China for its private label business and plans to further reduce this cost exposure to around 6% by the end of fiscal 2025.<\/p>\n

The following actions have been taken to quickly limit exposure to all tariffs:<\/p>\n