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Academy(ASO) - 2025 Q4 - Annual Results
ASOAcademy(ASO)2025-03-20 12:03

Financial Performance - Fourth quarter comparable sales declined by 3.0%, showing a 190 basis point improvement compared to the third quarter of 2024[1] - Fourth quarter diluted GAAP EPS was 1.89,abovethemidpointofupdatedguidanceprovided[1]−Netsalesforthefourthquarterwere1.89, above the midpoint of updated guidance provided[1] - Net sales for the fourth quarter were 1,676.9 million, a decrease of 6.6% from 1,794.8millioninthesamequarterlastyear[2]−Fiscal2024netsalestotaled1,794.8 million in the same quarter last year[2] - Fiscal 2024 net sales totaled 5,933.4 million, down 3.7% from 6,159.3millioninfiscal2023[3]−NetsalesforthefiscalquarterendedFebruary1,2025,were6,159.3 million in fiscal 2023[3] - Net sales for the fiscal quarter ended February 1, 2025, were 1,676,920, a decrease of 6.6% compared to 1,794,828forthesameperiodin2024[28]−ForthefiscalyearendedFebruary1,2025,netsaleswere1,794,828 for the same period in 2024[28] - For the fiscal year ended February 1, 2025, net sales were 5,933,450, down 3.7% from 6,159,291in2024[30]−Netincomeforthefiscalquarterwas6,159,291 in 2024[30] - Net income for the fiscal quarter was 133,631, a decrease of 20.6% from 168,167inthesamequarterlastyear[28]−NetincomeforthefiscalyearendedFebruary1,2025,was168,167 in the same quarter last year[28] - Net income for the fiscal year ended February 1, 2025, was 418.447 million, a decrease of 19.4% from 519.190millionforthefiscalyearendedFebruary3,2024[34]−AdjustedEBITDAforthefiscalyearendedFebruary1,2025,was519.190 million for the fiscal year ended February 3, 2024[34] - Adjusted EBITDA for the fiscal year ended February 1, 2025, was 720.246 million, down 15.0% from 846.045millionforthefiscalyearendedFebruary3,2024[36]−AdjustedNetIncomeforthefiscalyearendedFebruary1,2025,was846.045 million for the fiscal year ended February 3, 2024[36] - Adjusted Net Income for the fiscal year ended February 1, 2025, was 439.487 million, compared to 539.471millionforthefiscalyearendedFebruary3,2024,reflectingadecreaseof18.5539.471 million for the fiscal year ended February 3, 2024, reflecting a decrease of 18.5%[40] - Adjusted Earnings Per Common Share, Diluted, for the fiscal year ended February 1, 2025, was 6.02, down from 6.96forthefiscalyearendedFebruary3,2024[40]FutureOutlook−Thecompanyplanstoopen20−25newstoresin2025,followingtheopeningof16newstoresin2024[8]−Forfiscal2025,thecompanyexpectsnetsalesbetween6.96 for the fiscal year ended February 3, 2024[40] Future Outlook - The company plans to open 20-25 new stores in 2025, following the opening of 16 new stores in 2024[8] - For fiscal 2025, the company expects net sales between 6,090 million and 6,265million,representinga4.26,265 million, representing a 4.2% increase compared to fiscal 2024[16] - The company anticipates a gross margin rate improvement to between 34.0% and 34.5% in fiscal 2025, up from 33.9% in fiscal 2024[16] - Adjusted net income for fiscal 2025 is projected to be between 400 million and 435million,adecreaseof4.9435 million, a decrease of 4.9% compared to fiscal 2024[16] - The company anticipates future growth through the opening of new stores and expansion into new markets, although actual results may vary due to various risks and uncertainties[25] - The company expects Adjusted Net Income for the fiscal year ending January 31, 2026, to be in the range of 400.0 million to 435.0million[42]DividendandShareholderReturns−Thequarterlydividendwasincreasedby18435.0 million[42] Dividend and Shareholder Returns - The quarterly dividend was increased by 18% per share, now at 0.13, payable on April 17, 2025[7] - The company repurchased 364.912millionofcommonstockforretirementduringthefiscalyearendedFebruary1,2025,comparedto364.912 million of common stock for retirement during the fiscal year ended February 1, 2025, compared to 202.796 million in the previous fiscal year[34] Operational Metrics - Gross margin for the fiscal quarter was 32.2%, down from 33.3% in the previous year[28] - Operating income for the fiscal quarter was 154,696,representing9.2154,696, representing 9.2% of sales, compared to 203,965 or 11.4% of sales in the prior year[28] - The company reported a gross margin of 33.9% for the fiscal year, compared to 34.3% in the previous year[30] - Operating income for the fiscal year was 538,639,whichis9.1538,639, which is 9.1% of sales, down from 11.0% in the prior year[30] Cash Flow and Capital Expenditures - Net cash provided by operating activities for the fiscal year ended February 1, 2025, was 528.082 million, slightly lower than 535.779millionforthefiscalyearendedFebruary3,2024[34]−AdjustedFreeCashFlowforthefiscalyearendedFebruary1,2025,was535.779 million for the fiscal year ended February 3, 2024[34] - Adjusted Free Cash Flow for the fiscal year ended February 1, 2025, was 341.962 million, compared to 329.640millionforthefiscalyearendedFebruary3,2024,indicatinganincreaseof3.9329.640 million for the fiscal year ended February 3, 2024, indicating an increase of 3.9%[44] - Capital expenditures for the fiscal year ended February 1, 2025, were 199.589 million, a decrease from 207.770millionforthefiscalyearendedFebruary3,2024[34]AssetsandLiabilities−Thecompany’stotalassetsincreasedto207.770 million for the fiscal year ended February 3, 2024[34] Assets and Liabilities - The company’s total assets increased to 4,900,963 as of February 1, 2025, compared to 4,676,713ayearearlier[31]−Currentliabilitiesroseto4,676,713 a year earlier[31] - Current liabilities rose to 960,881 from 879,858inthepreviousyear[31]OtherIncome−Thecompanyreporteda879,858 in the previous year[31] Other Income - The company reported a 15.0 million gain from a litigation settlement and a $7.1 million gain on a sale-leaseback transaction during the fiscal year ended February 1, 2025[40]