Sales Performance - For the first quarter of 2025, the company reported a comparable sales decrease of 3.7%, an improvement from a 5.7% decline in the same quarter of 2024[83] - Net sales decreased by $12.8 million, or 0.9%, in Q1 2025 compared to Q1 2024, primarily due to decreased comparable sales[98] - Comparable sales decreased by 3.7%, driven by a 5.2% decrease in comparable transactions, partially offset by a 1.5% increase in average ticket[100] Store Operations - The company operated 303 stores as of May 3, 2025, an increase from 284 stores at the end of the prior year quarter, with 5 new stores opened during the current quarter[78] - The company opened 5 new stores in Q1 2025, contributing $45.3 million to net sales, with a total of 19 new stores opened since Q1 2024[99] - The average store size is approximately 70,000 gross square feet, with locations primarily in the southern United States[77] Financial Performance - Adjusted EBITDA for the thirteen weeks ended May 3, 2025, was $109,764, compared to $142,578 for the same period in 2024, reflecting a decrease of approximately 23%[112] - Adjusted Net Income for the thirteen weeks ended May 3, 2025, was $51,597, down from $81,620 in the prior year, representing a decline of about 37%[114] - Adjusted Earnings per Share (EPS) for the first quarter of 2025 was $0.76 (diluted), compared to $1.08 in the same quarter of 2024, a decrease of approximately 30%[114] Cost and Expenses - Selling, general and administrative (SG&A) expenses rose by $36.2 million, or 10.2%, to $389.6 million in Q1 2025, primarily due to strategic investments in new stores and technology[103] - SG&A expenses as a percentage of sales increased from 25.9% in Q1 2024 to 28.8% in Q1 2025[95] - Interest expense decreased by $0.4 million, or 4.7%, in Q1 2025 compared to Q1 2024, primarily due to lower interest rates[105] Cash Flow and Capital Expenditures - Net cash provided by operating activities for the thirteen weeks ended May 3, 2025, was $157,472, down from $199,677 in the prior year, indicating a decline of about 21%[116] - Capital expenditures for the thirteen weeks ended May 3, 2025, totaled $50,830,000, an increase of 57.5% compared to $32,227,000 for the same period in 2024[129] - Cash used in investing activities rose by $18.6 million, from $32,355,000 in Q1 2024 to $50,988,000 in Q1 2025, primarily due to increased spending on corporate and IT programs[132] Supply Chain and Product Strategy - The product assortment for the first quarter of 2025 included outdoor (28%), sports (26%), recreation (24%), and apparel (22%) categories, reflecting a diverse range of offerings[75] - The company reduced its cost exposure to products imported from China to approximately 9% of total cost of goods sold for its private label business, aiming to diversify its global supply chain[79] - The company emphasizes a localized merchandising strategy to connect with a broad range of consumers, tailoring offerings to regional preferences[75] Shareholder Returns and Debt - The company approved a new share repurchase program allowing for the purchase of up to $700 million of its outstanding shares, with $536.5 million remaining for repurchases as of May 3, 2025[125] - The company declared a quarterly cash dividend of $0.13 per share for the fiscal quarter ended May 3, 2025, totaling $8,716 paid on March 25, 2025[128] - The company has a total long-term debt obligation of $103,994 for 2025, with significant payments due in 2027 amounting to $424,000[118] Economic and Market Conditions - The company monitors macroeconomic trends, including inflation and tariffs, which could impact consumer spending and sales growth[79] - The company is focused on enhancing its omnichannel capabilities, integrating e-commerce with physical stores to drive operational efficiencies[77] - E-commerce net sales represented 10.0% of merchandise sales in Q1 2025, up from 9.0% in Q1 2024[101]

Financial Performance - Net sales for Q1 2025 were $135 billion, a decrease of 09% year-over-year[29] - Comparable sales decreased by 37%[29] - Gross margin was 340%[29] - GAAP EPS was $068, while adjusted EPS was $076[29] Growth and Expansion - Academy Sports + Outdoors operates 303 stores across 21 states[9] - The company opened 5 new stores in Q1 2025[12, 29] - The company plans to open 20-25 new stores in 2025[12] - Year One Sales target for new stores is $12 million - $16 million, with a spend of $4 million - $5 million per store[14] Revised Fiscal 2025 Guidance - Net sales are projected to be between $597 billion and $6265 billion[38] - Comparable sales are expected to range from -40% to 10%[38] - Adjusted earnings per common share, diluted, are projected to be between $545 and $625[38]

分组1 - Academy Sports and Outdoors, Inc. reported quarterly earnings of $0.76 per share, missing the Zacks Consensus Estimate of $0.91 per share, and down from $1.08 per share a year ago, representing an earnings surprise of -16.48% [1] - The company posted revenues of $1.35 billion for the quarter ended April 2025, missing the Zacks Consensus Estimate by 1.37%, and compared to year-ago revenues of $1.36 billion [2] - The stock has underperformed the market, losing about 22.9% since the beginning of the year, while the S&P 500 gained 2.1% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $2.14 on revenues of $1.63 billion, and for the current fiscal year, it is $6 on revenues of $6.15 billion [7] - The Leisure and Recreation Products industry, to which Academy Sports and Outdoors belongs, is currently in the bottom 22% of the Zacks Industry Rank, indicating potential underperformance compared to higher-ranked industries [8] - The estimate revisions trend for Academy Sports and Outdoors is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [6]

Financial Data and Key Metrics Changes - Net sales for Q1 fiscal 2025 were $1,350 million, down 0.9% year-over-year, resulting in a negative 3.7% comparable sales (comp) [13][26] - Operating income was $69.3 million, with diluted EPS at $0.68 and adjusted EPS at $0.76 [30] - Gross margin improved to 34%, a 60 basis point increase from the previous year, driven by merchandise margin expansion and favorable shrink [28][29] Business Line Data and Key Metrics Changes - Footwear and apparel were the strongest categories, remaining roughly flat year-over-year, while sports and recreation also showed improvement [14][26] - Athletic footwear posted a positive 4.5% comp, led by brands like Nike and Brooks, while the Jordan brand exceeded internal expectations [27][19] - Outdoor category faced challenges, particularly in ammunition sales, but fishing and firearms showed solid increases [14][28] Market Data and Key Metrics Changes - The company observed increased foot traffic from customers with household incomes over $100,000, indicating a shift towards value-seeking behavior among higher-income consumers [12][37] - E-commerce sales increased by 10% for the quarter, with penetration growing to over 10% [17][26] Company Strategy and Development Direction - The company is focused on new store expansion, planning to open 20 to 25 new stores in fiscal 2025, with five locations opened in Q1 [15][16] - E-commerce growth is a key pillar, with efforts to enhance the online shopping experience and expand product offerings [17][18] - The company is leveraging technology, including RFID and handheld devices, to improve inventory accuracy and customer experience [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about navigating tariff impacts and consumer behavior, emphasizing the importance of value in a challenging economic environment [7][25] - The company is adjusting its guidance to account for various tariff scenarios, with sales expectations ranging from $5.97 billion to $6.26 billion [35][36] - Management noted the fragility of the U.S. consumer environment but remains confident in long-term growth strategies [24][25] Other Important Information - The company returned over $100 million of free cash flow to investors in Q1, including share repurchases and dividends [34] - Strategic actions taken to mitigate tariff impacts included pulling forward $85 million in domestic inventory receipts at pre-tariff prices [31][32] Q&A Session Summary Question: Retention of higher-income consumers - Management noted that retention among higher-income consumers has been strong, with these customers shopping more frequently across various product categories [41][42] Question: Performance in May and impact of Jordan brand - Management indicated that while May showed a slight decline, the Jordan brand continues to perform well, and they remain optimistic about Q2 due to upcoming shopping events [45][46] Question: Health of the consumer and impact of weather - Management attributed softness in certain categories to weather conditions and noted that consumer behavior is cautious, with a focus on value [52][53] Question: Tariff outlook for fiscal 2026 - Management emphasized the importance of diversifying sourcing to mitigate future tariff impacts, but refrained from speculating on specific outcomes [80][81] Question: Gross margin guidance - Management explained that gross margin guidance remains unchanged due to effective inventory management and partnerships with suppliers to mitigate cost increases [56][63]

Financial Data and Key Metrics Changes - Net sales for Q1 2025 were $1,350 million, down 0.9% year-over-year, resulting in a negative 3.7% comparable sales (comp) [11][25] - Operating income was $69.3 million, with diluted EPS at $0.68 and adjusted EPS at $0.76 [30] - Gross margin improved to 34%, a 60 basis point increase from the previous year, driven by merchandise margin expansion [28][29] Business Line Data and Key Metrics Changes - Footwear and apparel were the strongest categories, with athletic footwear posting a positive 4.5% comp, driven by brands like Nike and Brooks [26][27] - Outdoor category saw low single-digit declines primarily due to softer sales in ammunition, while fishing and firearms performed well [12][28] - E-commerce channel experienced a positive 10% comp for the quarter, with significant contributions from the Jordan brand [25][16] Market Data and Key Metrics Changes - Increased foot traffic from customers with household incomes over $100,000, indicating a shift towards value-seeking behavior [10][37] - The company noted a sequential improvement in sales throughout the quarter, with April finishing positively after a slow February [11][44] Company Strategy and Development Direction - The company is focused on reducing exposure to products made in China, aiming to decrease this from 9% to approximately 6% by year-end [8][10] - New store expansion remains a key growth engine, with plans to open 20 to 25 new stores in 2025 [14][15] - The company is leveraging technology, including RFID and handheld devices, to improve inventory accuracy and customer experience [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about navigating the current tariff environment while maintaining value for customers [5][24] - The company anticipates continued pressure on consumer spending due to inflation but believes its value proposition will attract more customers [24][108] - Guidance for 2025 was updated to reflect a range of sales outcomes based on potential tariff scenarios, with expected sales between $5.97 billion and $6.26 billion [35][36] Other Important Information - The company returned over $100 million of free cash flow to investors in Q1, including share repurchases and dividends [33] - Strategic investments in digital and supply chain technologies are expected to normalize SG&A expenses as the year progresses [30][32] Q&A Session Summary Question: Retention of higher-income consumers - Management noted that higher-income consumers are shopping more frequently and are retaining their loyalty, shopping across various product categories [40][41] Question: Performance in May and comp trends - May showed a slight decline in sales, but management remains optimistic about Q2 due to upcoming shopping events like Father's Day [44][45] Question: Impact of weather and consumer health - Management indicated that weather had a significant impact on sales, particularly in basketball and golf, and noted that consumers are cautious in their spending [94][50] Question: Tariff outlook for FY26 - Management emphasized the importance of diversifying sourcing to mitigate future tariff impacts, but specifics on the tariff situation remain uncertain [79][80] Question: Gross margin guidance - Management explained that gross margin guidance remains unchanged due to strategic inventory management and partnerships with suppliers to mitigate cost increases [54][56]

Financial Performance - First quarter net sales decreased by 0.9% to $1,351.4 million, while comparable sales declined by 3.7%[2] - First quarter diluted GAAP EPS was $0.68, down 32.7% from $1.01 in the same period last year[2] - Adjusted net income for the first quarter was $51.6 million, a decrease of 36.8% compared to $81.6 million last year[2] - Net sales for the thirteen weeks ended May 3, 2025, were $1,351,409, a slight decrease of 0.6% compared to $1,364,220 for the same period in 2024[26] - Net income for the thirteen weeks ended May 3, 2025, was $46,084, a decrease of 39.7% from $76,465 in the same period in 2024[26] - Adjusted Net Income for the thirteen weeks ended May 3, 2025, was $51,597,000, a decrease of 36.8% from $81,620,000 for the same period in 2024[35] - Adjusted Earnings Per Common Share, Diluted, for the thirteen weeks ended May 3, 2025, was $0.76, down from $1.08 in the prior year, representing a decline of 29.6%[35] Guidance and Projections - The company revised its fiscal 2025 guidance for net sales to a range of $5,970 million to $6,265 million, reflecting a potential decline in comparable sales of -4% to +1%[12] - The company expects adjusted earnings per share for fiscal 2025 to range from $5.45 to $6.25, compared to the previous guidance of $5.75 to $6.20[13] - The company provided guidance for the fiscal year ending January 31, 2026, projecting Adjusted Net Income between $375,000,000 and $435,000,000[37] - The projected Adjusted Earnings Per Common Share, Diluted, for the fiscal year ending January 31, 2026, is expected to range from $5.45 to $6.25[37] Store Operations - The company opened five new stores, increasing total locations to 303 across 21 states[6] - The company plans to open 20 to 25 new stores in fiscal 2025[6] Inventory and Assets - Merchandise inventories increased by 15.0% to $1,560.0 million compared to the previous year[3] - Total assets increased to $5,180,423 as of May 3, 2025, compared to $4,873,879 as of May 4, 2024[28] Cash Flow and Liabilities - Net cash provided by operating activities for the thirteen weeks ended May 3, 2025, was $157,472,000, a decrease of 21.1% compared to $199,677,000 for the same period in 2024[39] - Adjusted Free Cash Flow for the thirteen weeks ended May 3, 2025, was $106,484,000, down 36.3% from $167,322,000 in the prior year[39] - Current liabilities rose to $1,262,895 as of May 3, 2025, compared to $1,122,076 as of May 4, 2024[28] Shareholder Actions - Share repurchases in the first quarter totaled $99.9 million, a decrease of 19.1% from $123.5 million in the previous year[5] - The company repurchased $99,031 in common stock during the thirteen weeks ended May 3, 2025[30] Cost Management - The company has reduced its cost exposure to China to approximately 9% of total cost of goods sold, with a target of 6% by the end of fiscal 2025[8] - The company plans to reduce direct import cost exposure to China as part of its strategic initiatives[23] Other Financial Metrics - Gross margin increased to 34.0% for the thirteen weeks ended May 3, 2025, compared to 33.4% for the same period in 2024[26] - Operating income decreased to $69,265, representing 5.1% of net sales, down from $102,383 or 7.5% of net sales in the prior year[26] - Adjusted EBITDA for the thirteen weeks ended May 3, 2025, was $109,764, down from $142,578 in the same period in 2024[33] - Cash and cash equivalents decreased to $285,104 as of May 3, 2025, from $378,145 as of May 4, 2024[30] - Equity compensation for the thirteen weeks ended May 3, 2025, amounted to $7,542,000, compared to $6,138,000 in the same period of 2024, reflecting an increase of 23.0%[35] - The weighted average common shares outstanding for the thirteen weeks ended May 3, 2025, were 68,170,000 diluted shares, down from 75,798,000 in the prior year[35] - The tax effects of adjustments for the thirteen weeks ended May 3, 2025, were $(2,029,000), compared to $(1,432,000) for the same period in 2024[36]

Core Insights - Academy Sports and Outdoors, Inc. reported a decline in first quarter sales by 0.9% with comparable sales down 3.7% [1][2] - eCommerce sales increased by 10.2%, and the company opened five new stores, maintaining positive comparable sales in low single digits [1][2] - The company revised its annual comparable sales guidance to a range of -4% to +1% due to inflationary pressures [2][10] Financial Performance - Net sales for the first quarter were $1,351.4 million, down from $1,364.2 million, reflecting a 0.9% decrease [2][25] - Net income decreased by 39.7% to $46.1 million compared to $76.5 million in the previous year [2][25] - Diluted earnings per share (EPS) fell to $0.68, down 32.7% from $1.01 [2][25] Balance Sheet Highlights - Cash and cash equivalents decreased by 24.6% to $285.1 million from $378.1 million [3] - Merchandise inventories increased by 15.0% to $1,560.0 million compared to $1,356.8 million [3] - Long-term debt remained relatively stable at $482.2 million, down 0.4% from $484.1 million [3] Capital Allocation - The company returned $108 million to shareholders through share buybacks and dividends, with share repurchases totaling $99.9 million, a decrease of 19.1% from the previous year [4][5] - Dividends paid increased by 6.1% to $8.7 million compared to $8.2 million [4] Store Expansion - Academy opened five new stores, bringing the total to 303 locations across 21 states [6][7] - The company plans to open 20 to 25 stores in fiscal 2025 [6] Tariff Mitigation Strategies - The company has reduced its cost exposure to China to approximately 9% of total cost of goods sold for its private label business, with plans to further reduce it to around 6% by the end of fiscal 2025 [8][9] - Actions taken include diversifying the supply chain and leveraging private brand portfolios to maintain margin integrity [9] 2025 Outlook - The updated fiscal 2025 guidance reflects a wider range of scenarios due to uncertain demand, with net sales projected between $5,970 million and $6,265 million [10][12] - The company anticipates adjusted net income to range from $375 million to $435 million, with diluted EPS expected between $5.10 and $5.90 [13][35]

Core Insights - Analysts expect Academy Sports and Outdoors, Inc. (ASO) to report quarterly earnings of $0.91 per share, reflecting a year-over-year decline of 15.7% [1] - Revenue projections stand at $1.37 billion, indicating a slight increase of 0.4% compared to the same quarter last year [1] - There have been no revisions in the consensus EPS estimate over the last 30 days, suggesting stability in analysts' forecasts [1] Revenue Estimates - 'Net Sales- Merchandise Division Sales- Outdoors' is projected to reach $390.43 million, showing a year-over-year increase of 4.1% [4] - 'Net Sales- Merchandise Division Sales- Sports and recreation' is estimated at $322.41 million, indicating a decline of 8% from the previous year [4] - 'Net Sales- Other Sales' is forecasted to be $28.42 million, reflecting a significant increase of 166.5% year-over-year [4] Additional Sales Metrics - 'Net Sales- Merchandise Division Sales- Footwear' is expected to be $278.12 million, representing a decrease of 4.9% from the prior year [5] - The total merchandise sales are anticipated to reach $1.34 billion, indicating a decline of 1.3% compared to the previous year [5] - 'Net Sales- Merchandise Division Sales- Apparel' is projected at $344.86 million, reflecting a year-over-year increase of 2.8% [6] Store Metrics - Analysts estimate that 'Stores - EOP' will total 302, an increase from 284 reported in the same quarter last year [6] Stock Performance - Over the past month, shares of Academy Sports and Outdoors have increased by 10.1%, outperforming the Zacks S&P 500 composite, which rose by 5.2% [7] - ASO currently holds a Zacks Rank 4 (Sell), indicating potential underperformance in the near future [7]

Core Insights - Academy Sports + Outdoors is committed to expanding its presence by opening 20-25 new stores in fiscal 2025, having recently opened two new locations and planning another in Morgantown, W.Va [1][4] - The company has surpassed 300 total stores as of Q1 2025, reinforcing its mission to provide quality sporting goods and outdoor gear to families across the United States [1][10] Expansion Plans - In 2023, Academy opened 14 new stores across six states, followed by 16 new stores in 2024 across ten states, including its first locations in Ohio [4] - As of 2025, Academy has opened 7 new stores in six states, marking its first entries in Pennsylvania and Maryland [4] Community Engagement - Academy celebrated new store openings by hosting donation shopping sprees with local non-profits, enhancing community involvement and support [3][4] - The company's donations have positively impacted local communities by providing essential equipment and promoting youth participation in sports [4] Product Offering - Each Academy store offers a wide range of products including apparel, footwear, sports equipment, and outdoor gear from top national brands at competitive prices [2][5] - Academy also features exclusive private label brands that provide quality outdoor apparel and equipment [6] Customer Experience - The company provides free services such as grill and bike assembly, and offers a rewards program, myAcademy, which includes various customer benefits [8][9]

Core Insights - The article discusses the investment potential of Academy Sports and Outdoors, highlighting market trends and opportunities for investors [1] Company Overview - Academy Sports and Outdoors (ASO) is positioned as an exciting investment opportunity within the retail sector, particularly in sporting goods and outdoor equipment [1] Market Trends - The video accompanying the article provides insights into current market trends that may affect the performance of Academy Sports and Outdoors [1] Investment Opportunities - Analysts suggest that there are potential investment opportunities related to Academy Sports and Outdoors, which could be beneficial for investors looking to capitalize on market movements [1]