Financial Data and Key Metrics Changes - In Q3 2024, the company reported sales of $1.34 billion, with comparable sales declining by 4.9%, which was in line with expectations [45][46] - GAAP net income was $65.8 million, translating to GAAP diluted earnings per share of $0.92, while adjusted net income was $70.5 million or $0.98 in adjusted earnings per share [46][60] - The gross margin rate for the quarter was 34.0%, a decrease of 50 basis points compared to the previous year, primarily due to increased supply chain costs and a shift in merchandise mix [46][49] Business Line Data and Key Metrics Changes - The outdoor category was the best-performing segment, with total sales growth of 4%, driven by strong camping and hunting sales [12] - Footwear sales declined by 2%, while sports and recreation sales were down 3%, with team sports showing strength in football and baseball [12][13] - Apparel sales decreased by 9%, impacted by warmer weather affecting fall seasonal categories [13][15] Market Data and Key Metrics Changes - The company experienced a 250 basis point increase in store foot traffic compared to the first half of the year, with foot traffic during key shopping events increasing by 3.8% year-over-year [47][48] - The consumer environment showed episodic shopping behavior, with customers waiting for major events to shop, impacting sales during quieter periods [17][19] Company Strategy and Development Direction - The company is focused on expanding its store footprint, having opened 16 new stores in 2024, with plans for 20 to 25 new stores in 2025 [23][28] - Strategic initiatives include building a more powerful omnichannel business and driving comparable sales growth across existing stores [32][38] - The company aims to leverage its value proposition and maintain everyday value messaging while offering targeted promotions [15][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-range plan and noted a strong start to the holiday season, despite a cautious outlook due to macroeconomic conditions [7][8] - The company is monitoring potential impacts from recent elections and tariff increases, having diversified its sourcing base to mitigate risks [62][63] - Management highlighted the importance of maintaining a clean inventory position and expects to avoid excessive promotions due to a well-managed inventory [78][79] Other Important Information - The board authorized a new $700 million share repurchase program, reflecting confidence in the business and commitment to returning capital to shareholders [8][56] - The company generated approximately $97 million in cash from operations and invested $63 million in growth initiatives during the quarter [54][55] Q&A Session Summary Question: Can you provide commentary on Black Friday and Cyber Week performance? - Management noted that Black Friday was the largest selling day in the company's history, with strong momentum carrying into Cyber Week despite the compressed holiday calendar [75][76] Question: What are the drivers of gross margin decline? - The decline was primarily due to a mix shift associated with outdoor sales and increased international freight costs, with expectations for improved margins in Q4 [82][89] Question: Were there any changes in consumer behavior in Q3? - Management observed a potential trade-down in customer spending and continued episodic shopping behavior, with increased usage of credit and Buy Now Pay Later options [94][98] Question: Can you elaborate on the upcoming Nike product launch? - The launch is expected to be significant, with a broad assortment across various categories, but specific details are limited at this time [104] Question: How is the competitive environment compared to last year? - The promotional environment is slightly elevated compared to last year, but not back to pre-pandemic levels, with digital performance meeting expectations [106][109]

Exhibit 99.1 Academy Sports + Outdoors Reports Third Quarter 2024 Results Net Sales Decline (3.9)%; Comparable Sales of (4.9)% 1 GAAP Diluted EPS of $0.92, or $0.98 Adjusted Diluted EPS 1 Year-to-Date GAAP Operating Cash Flow +29%; Year-to-Date Adjusted Free Cash Flow +67% vs LY Authorizes New $700 Million Share Repurchase Program Plans to Open 20 to 25 New Stores in Fiscal 2025 KATY, TEXAS (Globe Newswire — December 10, 2024) – Academy Sports and Outdoors, Inc. (Nasdaq: ASO) ("Academy" or the "Company") to ...

KATY, Texas, Dec. 04, 2024 (GLOBE NEWSWIRE) -- This press release is being issued to replace in its entirety a press release issued earlier today that contained a typographical error regarding the remaining availability under the preceding share repurchase program. Academy Sports and Outdoors, Inc. (the “Company” or “Academy”) (Nasdaq: ASO) announced today that its Board of Directors approved a new share repurchase program authorizing the Company to repurchase up to $700 million of its outstanding common st ...

KATY, Texas, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Academy Sports and Outdoors, Inc. (the “Company” or “Academy”) (Nasdaq: ASO) announced today that its Board of Directors approved a new share repurchase program authorizing the Company to repurchase up to $700 million of its outstanding common stock. This new share repurchase program replaces the preceding share repurchase program, of which $423 million remained at the time this new program was approved, and is effective as of December 4, 2024, for a period of ...

Core Viewpoint - Academy Sports and Outdoors, Inc. (ASO) has successfully opened five new stores, bringing its total new store openings for fiscal 2024 to 16, which aligns with its target range of 15-17 [1] Group 1: Store Openings and Expansion - The newly opened stores are located in Bradenton and Yulee, FL; Searcy, AR; Meridian, MS; and Corsicana, TX, marking the completion of the company's fiscal 2024 expansion [1] - As of August 2024, ASO operates 285 stores across 19 states and plans to open approximately 160-180 new stores over the next five years [4] Group 2: Product Offerings and Services - Each new store will offer a variety of products including apparel, footwear, sports and camping equipment, and hunting and fishing gear from both national and private label brands [2] - ASO provides free services such as grill and bike assembly, scope mounting, bore sighting, line winding/spooling, and propane exchange [2] Group 3: Growth Initiatives and Financial Strategy - The company is focusing on growth initiatives that include new store expansion, omnichannel advancements, digital marketing projects, and improvements to existing stores [3] - ASO is committed to effective capital allocation strategies to ensure financial stability and increase shareholder returns through share repurchases and dividends [3] Group 4: Market Performance and Future Outlook - ASO shares have decreased by 8.9% over the past year, contrasting with the 14.4% growth in the Zacks Leisure and Recreation Products industry [6] - The company aims to enhance its omnichannel capabilities and inventory position to maintain growth momentum in the future [6]

Core Viewpoint - The market anticipates a year-over-year decline in earnings for Academy Sports and Outdoors, Inc. (ASO) due to lower revenues when it reports results for the quarter ended October 2024 [1][2]. Earnings Expectations - The upcoming earnings report is expected to be released on December 10, 2024, with a consensus estimate of $1.31 per share, reflecting a year-over-year decrease of 5.1% [3][2]. - Revenues are projected to be $1.37 billion, down 1.7% from the same quarter last year [4]. Estimate Revisions - The consensus EPS estimate has been revised 0.47% lower over the last 30 days, indicating a reassessment by analysts [5]. - The Most Accurate Estimate for ASO is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -5.26%, suggesting a bearish outlook from analysts [11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the likelihood of actual earnings deviating from consensus estimates, with a strong predictive power for positive readings [8][9]. - However, the current negative Earnings ESP reading, combined with a Zacks Rank of 4 (Sell), complicates the prediction of an earnings beat for ASO [12]. Historical Performance - In the last reported quarter, ASO met the expected earnings of $2.03 per share, resulting in no surprise [13]. - The company has not beaten consensus EPS estimates in any of the last four quarters [14]. Conclusion - ASO does not appear to be a compelling candidate for an earnings beat, and investors should consider other factors when making decisions regarding the stock ahead of its earnings release [17].

Academy opened 16 new stores in fiscal 2024 helping customers to have fun out thereKATY, Texas, Dec. 3, 2024 /PRNewswire/ -- Academy Sports + Outdoors ("Academy") (Nasdaq: ASO), a leading full-line sporting goods and outdoor recreation retailer, wrapped up 2024 with five new stores in Bradenton, Fla.; Yulee, Fla.; Searcy, Ark.; Meridian, Miss.; and Corsicana, Texas. As part of its commitment and investment in these local communities, Academy donated more than $25,000 in total to local non-profit organizatio ...

KATY, Texas, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Academy Sports and Outdoors, Inc. ("Academy" or the "Company") (Nasdaq: ASO), a leading full-line sporting goods and outdoor recreation retailer, plans to release its third quarter fiscal 2024 financial results before the market opens on Tuesday, December 10, 2024. Academy will host a live conference call that day at 10:00 a.m. Eastern Time to discuss the financial results. Participants interested in accessing the live call can dial 1-877-407-3982 (U.S.) or 1-2 ...

My name is Daria Naumova. I'm a student studying a Bachelor of Arts in Economics and Management at the University of Westminster in London. During my first year, I realized I greatly enjoyed learning about and conducting financial analysis as well as the general process of equity research, leading me to do so in my free time. Writing for Seeking Alpha provides an opportunity to formalize my research and share my analyses with a broader audience. It also allows me to receive feedback on my ideas, which is va ...

Academy Sports and Outdoors, Inc. (ASO) is likely to benefit from expansion efforts, digital efforts and loyalty programs. Also, the focus on footwear and outdoor divisions bodes well. However, declining consumer demand and operational challenges pose concerns.Factors Driving ASO StockAcademy Sports focuses on expanding its footprint to drive growth. The company’s new store growth remains a primary sales driver, with its 2022 and 2023 vintages posting positive comps despite a challenging retail environment. ...