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. ...

Here are three stocks added to the Zacks Rank #24 (Strong Sell) List today:Academy Sports and Outdoors, Inc. (ASO) operates as a sporting goods and outdoor recreational products retailer. The Zacks Consensus Estimate for its current year earnings has been 4.8% downward over the last 60 days.American Vanguard Corporation (AVD) is a specialty chemicals company. The Zacks Consensus Estimate for its current year earnings has been revised 177.3% downward over the last 60 days.CVS Health Corporation (CVS) is a pr ...

Investment Thesis - Academy Sports and Outdoors (ASO) has ambitious expansion plans, aiming to open 160-180 new stores over the next five years with a return on invested capital (ROIC) hurdle of at least 20% for each store, and targeting a 66% increase in annual sales [2] Q2 Earnings - ASO reported Q2 2024 net sales of $1.55 billion, a year-over-year decline of 2.2%, with comparable sales down 6.9%. GAAP diluted EPS was $1.95, and adjusted diluted EPS was $2.03, reflecting decreases of 3.0% and 2.9% respectively [3] - Year-to-date sales have declined by 2.9%, with comparable sales down 5.4%. Both GAAP and adjusted net income decreased by 9.2% [3] - Gross margin expanded by 50 basis points to 36.1%, attributed to improved inventory management and lower freight expenses. Full-year gross margin is now expected to be between 34.3% and 34.7% [3] Growth Ambitions - ASO opened two new stores in Q2, including its first in Georgia, and plans to open 15-17 stores in 2024. The long-term goal is to reach 800 stores, potentially generating $16 billion in revenue [6] - SG&A expenses increased by 4.6% year-over-year, primarily focused on growth initiatives, with 90% of spending increases directed towards growth [6] Growth Expectations Pulled Back - ASO has adjusted its new store sales contribution expectations from $18 million to a range of $12 to $16 million due to challenges in recent quarters [7] - The company is optimizing its new store growth strategy, focusing on lower opening costs while maintaining ROIC and aiming for positive EBITDA [7] - Management noted that stores opened in existing markets have outperformed those in new markets, indicating a need for a more strategic approach to store openings [7] Valuation - ASO has achieved a 21.6% compound annual growth rate (CAGR) in operating cash flow (OCF) and a 31.7% CAGR in free cash flow (FCF) since 2019 [8] - The stock appears undervalued based on free cash flow potential, with estimates suggesting it could be undervalued by as much as 57% [10] Conclusion - ASO stock is considered highly skewed toward the reward end of the risk-reward spectrum, with potential undervaluation of 57% based on a weighted DCF model [13] - The company is operating efficiently and continues to refine its expansion plans, with management confident in the performance of new stores and cost improvements [13]