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 ...

EXTREME-PHOTOGRAPHER/E+ via Getty ImagesInvestment Thesis Academy Sports and Outdoors (NASDAQ:ASO) has big expansion plans. ASO’s five-year long-range plan (LRP) includes opening 160 – 180 new stores in the next five years, with an ROIC hurdle of no less than 20% for each store, improving its supply chain, and increasing annual sales by at least 66%. If the company can come anywhere close to delivering the type of free cash flow growth that it has from its recent new and same-store performance, it could ...

Academy Sports and Outdoors, Inc. (ASO) reported second-quarter fiscal 2024 (ended Aug. 3) results, wherein adjusted earnings met the Zacks Consensus Estimate but net sales missed the same. The bottom and top lines declined on a year-over-year basis.The quarterly results reflect lower sales across the sports and recreation merchandise and the apparel merchandise divisions due to ongoing macroeconomic uncertainties and a decline in consumers’ discretionary spending. Also, a temporary reduction in outbound sh ...

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 August 3, 2024 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 o ...

Financial Data and Key Metrics Changes - Sales for Q2 2024 were $1.55 billion, down 2.2% year-over-year, translating to a negative 6.9% comparable sales on a shifted basis [5][23] - Gross margin rate was 36.1%, a 50 basis point increase compared to the previous year, driven by inventory cost management and lower freight expenses [16][25] - Net income for the quarter was $142.6 million, with diluted earnings per share of $1.95, and adjusted net income of $148.6 million or $2.03 in adjusted earnings per share [25][27] Business Line Data and Key Metrics Changes - Footwear sales increased by 1%, driven by strong performance in kids and athletic footwear, while the outdoor division also saw a 1% increase [11][12] - Apparel sales decreased by 2%, with strong results in the kids segment but underperformance in licensed team sports [12][13] - Sports and recreation division faced a 7% decline, with challenges in big-ticket items like pools and fitness equipment [13][14] Market Data and Key Metrics Changes - Year-to-date sales through August were down 2.9%, translating to a negative 5.4% comparable sales on a shifted basis [15] - The company faced significant sales impacts from weather events, estimating a $16 million loss due to storms and $32 million from distribution center issues [7][8] Company Strategy and Development Direction - The company aims to grow market share despite a challenging retail environment, focusing on value leadership and innovative product offerings [9][10] - New store growth remains a primary sales driver, with plans to open 15 to 17 new stores in 2024 and 160 to 180 over the next five years [17][49] - The launch of the My Academy Rewards program aims to enhance customer loyalty and engagement, with early sign-ups exceeding expectations [20][21] Management's Comments on Operating Environment and Future Outlook - Management noted that economic factors suppressing consumer spending are expected to persist, leading to a revision of annual sales guidance to a range of $5.9 billion to $6.07 billion [15][29] - The company remains focused on aligning expenses and inventory with revised forecasts while maintaining profitability [16][30] Other Important Information - The company generated approximately $91 million in cash from operations and repurchased about 1.8 million shares for $99 million during the quarter [27] - The Board approved a dividend of $0.11 per share payable on October 17, 2024 [27] Q&A Session Summary Question: What is the sales trajectory in the business? - Management indicated that August saw a positive comp, rebounding from earlier disruptions caused by weather events [34][36] Question: Is there a thought to become more promotional given the state of the consumer? - Management stated that extra promotions during lulls tend to erode average unit retail (AUR) and that they will focus on everyday value instead [38][39] Question: What is the competitive landscape like? - Management observed a slight increase in promotions but noted that it is not back to pre-pandemic levels [41][42] Question: What are the drivers of potential improvement for the back half of the year? - Management highlighted new store contributions, the loyalty program, and improved customer engagement as key drivers [45][46] Question: How are the 2023 stores performing? - Management reported that the 2023 stores are performing better than the 2022 vintage stores [48][49] Question: What is the impact of the calendar shift on sales? - Management noted a $35 million benefit from the calendar shift in Q2, which will reverse in the following quarters [60][61]

Adam GaultAcademy Sports and Outdoors: A Buy or a Sell? Until a year ago, investors holding sporting goods retailer Academy Sports and Outdoors' shares (NASDAQ:ASO) appeared rightfully pleased with their pick, especially comparing it against its main and largest peer Dick's Sporting Goods (DKS): Academy's stock almost tripled Dick's returns. Data by YChartsBut YTD, things have reversed and Academy has returned nothing but lackluster performance, with ASO shares down almost 17%, while DKS shares have gai ...

Key TakeawaysAcademy Sports + Outdoors reported a second-quarter sales decline as it faced "a tough economy."The company also cut its full-year outlook.CFO Carl Ford said quarterly sales were "more challenging than expected."Still, adjusted EPS beat estimates and shares rose in intraday trading Tuesday. Academy Sports + Outdoors (ASO) shares advanced in intraday trading Tuesday after the sporting goods and recreational products retailer beat second-quarter adjusted profit expectations, even though it posted ...

Pgiam/iStock via Getty Images Academy Sports and Outdoors, Inc. (NASDAQ:ASO) is rising slightly after just-reported Q2 earnings. The report was mixed, all things considered, and the stock still has about 10% short interest. This one has certainly been a short target many times in the last few years. This time, as we head toward Q4, with the stock down for the year, it could be one for tax loss harvesting, which suggests a better price may be in store. Below, we are setting up a new 'sample' trade for ne ...

Academy Sports and Outdoors, Inc. (ASO) came out with quarterly earnings of $2.03 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $2.09 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post earnings of $1.23 per share when it actually produced earnings of $1.08, delivering a surprise of -12.20%.Over the last four quarters, the company has not been able to surpass consensus EPS estimates.Academy ...

Exhibit 99.1 Academy Sports + Outdoors Reports Second Quarter 2024 Results Net Sales Decline (2.2)%; Comparable Sales of (6.9)% GAAP Diluted EPS of $1.95, or $2.03 Adjusted Diluted EPS Year-to-Date Adjusted Free Cash Flow +60%; Utilized to Return $107 Million to Shareholders in Q2 Fiscal 2024 Guidance Revised; Reaffirming Gross Margin Rate Guidance KATY, TEXAS (Globe Newswire — September 10, 2024) – Academy Sports and Outdoors, Inc. (Nasdaq: ASO) ("Academy" or the "Company") today announced its financial re ...