Academy(US:ASO) Globenewswireยท2025-09-02 12:00Financial Performance - Company reported a 3.3% increase in net sales for the second quarter, totaling $1,599.8 million compared to $1,549.0 million in the same period last year [1][21] - Comparable sales increased by 0.2%, a significant improvement from a decline of 6.9% in the previous year [1][21] - Diluted GAAP earnings per share (EPS) for the second quarter was $1.85, down 5.1% from $1.95 in the prior year [1][21] Year-to-Date Results - Year-to-date net sales reached $2,951.2 million, reflecting a 1.3% increase from $2,913.2 million in the same period last year [3][22] - Year-to-date comparable sales decreased by 1.7%, an improvement from a decline of 6.4% in the previous year [3][22] - Year-to-date net income was $171.5 million, down 21.7% from $219.1 million in the prior year [3][22] Store Expansion - Company opened three new stores in Florida, Virginia, and West Virginia during the second quarter, bringing the total to 306 locations across 21 states [1][7] - Plans to open 20 to 25 new stores in fiscal 2025 [7] Inventory and Cash Position - Merchandise inventories increased by 16.2% year-over-year, totaling $1,587.6 million [4][22] - Cash and cash equivalents decreased by 7.3% to $300.9 million compared to $324.6 million in the previous year [4][22] Capital Allocation - Share repurchases totaled $222.3 million, a decrease of 55.1% compared to the previous year [6] - Dividends paid increased by 8.1% to $16.1 million [6] Tariff Mitigation Strategies - Company has implemented various strategies to mitigate the impact of tariffs, including partnering with vendors and adjusting unit buys [9][10] - These actions are expected to help maintain a strong value proposition for customers [10] 2025 Outlook - Company narrowed its sales guidance for fiscal 2025, now expecting a range of -3.0% to positive 1.0% [11] - Updated guidance for net sales is between $6,000 million and $6,265 million [11]