Academy(ASO) Globenewswire·2025-03-20 12:00Core Insights - Academy Sports and Outdoors reported a decline in fourth quarter comparable sales of 3.0%, which is an improvement of 190 basis points compared to the third quarter of 2024 [1][2] - The diluted GAAP earnings per share (EPS) for the fourth quarter was $1.89, exceeding the midpoint of the updated guidance provided [1][2] - The company announced the launch of the Jordan Brand in 145 stores and online starting in late April [1] - A quarterly dividend was increased by 18% per share [1] Financial Performance - For the fourth quarter ended February 1, 2025, net sales were $1,676.9 million, a decrease of 6.6% from $1,794.8 million in the same quarter of the previous year [3][23] - Comparable sales for the fiscal year 2024 decreased by 5.1%, compared to a 6.5% decline in fiscal year 2023 [3][12] - Net income for the fourth quarter was $133.6 million, down 20.6% from $168.2 million year-over-year [3][23] - Adjusted net income for the fourth quarter was $138.8 million, a decrease of 17.5% from the previous year [3][23] Operational Highlights - The company opened five new stores in the fourth quarter, totaling 16 new stores for the fiscal year 2024, with plans to open 20-25 new stores in 2025 [8][10] - Merchandise inventories increased by 9.6% to $1,308.8 million compared to $1,194.2 million in the previous year [7][27] - The company reported a cash and cash equivalents balance of $288.9 million, down 17.0% from $347.9 million [7][27] Future Outlook - The company anticipates that the first quarter of 2025 will be challenging for sales and earnings per share, but expects improvements in the second quarter as internal initiatives take effect [10][11] - Initial guidance for fiscal 2025 projects net sales between $6,090 million and $6,265 million, representing a 4.2% increase compared to fiscal 2024 [12][11] - The company aims to enhance its omnichannel experience and leverage customer data more effectively to drive long-term growth [10][11]