UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended July 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________. Commission File No. 001-39589 Academy Sports and Outdoors, Inc. (Exact name of registrant as specified in its charter) (State or ot ...

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Q1 2023 Earnings Conference Call June 6, 2023 10:00 AM ET Company Participants Matt Hodges - VP, IR Ken Hicks - Executive Chairman Steven Lawrence - CEO Michael Mullican - EVP, CFO Conference Call Participants Brian Nagel - Oppenheimer & Co. Kate McShane - Goldman Sachs Robert Ohmes - BAML Michael Lasser - UBS Christopher Horvers - JP Morgan Greg Melich - Evercore ISI Jackie Sussman - Morgan Stanley Kate Fitzsimons - Wells Fargo Anthony Chukumba - Loop Capital ...

Financial Performance - For the first quarter of 2023, net sales decreased by 7.3% compared to the same period in 2022[91]. - Net sales decreased by $84.1 million, or 5.7%, in Q1 2023 compared to Q1 2022, primarily due to a 7.3% decline in comparable sales[106]. - Gross margin fell by $54.3 million, or 10.4%, to $467.1 million in Q1 2023, with a gross margin percentage decrease from 35.5% to 33.8%[109]. - Selling, general and administrative (SG&A) expenses increased by $25.0 million, or 7.9%, to $340.9 million in Q1 2023, with SG&A as a percentage of sales rising to 24.6%[111]. - Adjusted EBITDA for the thirteen weeks ended April 29, 2023, was $167.6 million, a decrease of 28.8% from $235.3 million for the same period in 2022[120]. - Adjusted Net Income for the thirteen weeks ended April 29, 2023, was $102.98 million, down from $152.49 million in the prior year, representing a decline of 32.5%[122]. - Adjusted Earnings per Share (Diluted) for the thirteen weeks ended April 29, 2023, was $1.19, compared to $1.69 for the same period in 2022, reflecting a decrease of 29.6%[122]. - The company reported net cash provided by operating activities of $52.14 million for the thirteen weeks ended April 29, 2023, compared to $97.10 million in the prior year, indicating a decline of 46.3%[125]. - Adjusted Free Cash Flow for the thirteen weeks ended April 29, 2023, was $11.59 million, significantly lower than $79.79 million for the same period in 2022, marking a decrease of 85.4%[124]. - Net cash provided by operating activities in Q1 2023 was $52.135 million, a decrease of $45.0 million compared to Q1 2022[140]. Store Operations - As of April 29, 2023, the company operated 269 stores, an increase from 260 stores in the prior year[87]. - The average store size is approximately 70,000 gross square feet, with locations primarily in the southern United States[86]. - The company plans to open 13 to 15 new stores in 2023 and 120 to 140 new stores over the next five years, expecting most to achieve profitability within the first twelve months[98]. - The company plans to open 13 to 15 new locations in 2023, having opened one new location in the thirteen weeks ended April 29, 2023[133]. - Pre-opening expenses for new stores were $1.6 million in Q1 2023, compared to $1.0 million in Q1 2022[102]. Sales and E-commerce - E-commerce sales are included in the comparable sales calculation, impacting overall sales performance[90]. - E-commerce net sales represented 8.2% of merchandise sales in Q1 2023, down from 9.5% in Q1 2022[108]. - The company experienced a 6.7% decline in transactions and a 0.6% decrease in average ticket size, contributing to the drop in comparable sales[108]. - The company aims to enhance its omnichannel capabilities, integrating e-commerce with physical stores[86]. - The company has enhanced its omnichannel capabilities, which are expected to drive future growth in net sales[97]. Financial Position and Debt - As of April 29, 2023, the company had cash and cash equivalents totaling $295.5 million, which is expected to be sufficient to meet cash requirements for at least the next 12 months[127]. - The company's long-term debt includes $400 million in fixed-rate senior secured notes at 6.00% maturing on November 15, 2027, and a term loan of $194 million at 8.60% maturing on November 6, 2027[128]. - The company's liquidity under the ABL Facility was $986.1 million as of April 29, 2023, compared to $954.5 million for the same period in 2022[131]. Capital Expenditures and Shareholder Returns - Total capital expenditures for Q1 2023 amounted to $40.464 million, a significant increase from $17.280 million in Q1 2022[138]. - The Company expects capital expenditures for fiscal year 2023 to be between $200 million and $250 million[138]. - The Company authorized a share repurchase program allowing for the purchase of up to $600 million of outstanding shares, with approximately $249.4 million available as of April 29, 2023[134]. - In Q1 2023, the Company repurchased 750,010 shares at an average price of $66.69, totaling $50.015 million[135]. - The Company declared a quarterly cash dividend of $0.09 per share, totaling $6.929 million for Q1 2023, payable on July 13, 2023[137]. Inventory and Risk Management - The company has implemented new tools for inventory management, improving handling and vendor relations[95]. - The decrease in gross margin was primarily due to increased clearance and promotional activity, along with higher inventory shrink[109]. - The Company changed its inventory accounting method from LIFO to the weighted average cost method effective January 29, 2023, to improve comparability with industry peers[144]. - There were no material changes in primary risk exposures or management of market risks compared to the previous Annual Report[146]. - The company continues to face risks related to consumer discretionary spending and competition in the retail industry[77].

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Q4 2022 Results Conference Call March 16, 2023 10:00 AM ET Company Participants Matt Hodges - VP, IR Ken Hicks - Chairman, President & CEO Michael Mullican - EVP, CFO Steve Lawrence - EVP, Chief Merchandising Officer Conference Call Participants Brian Nagel - Oppenheimer Daniel Imbro - Stephens Greg Melich - Evercore ISI Kate Fitzsimons - Wells Fargo Nathan Friedman - Wedbush Securities Alex Perry - Bank of America Megan Alexander - JP Morgan Operator Good morn ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended January 28, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________. Commission File No. 001-39589 Academy Sports and Outdoors, Inc. (Exact name of registrant as specified in its charter) Delaware 85-18009 ...