Academy Sports + Outdoors Reports Fourth Quarter and Fiscal 2025 Results

Core Insights - Academy Sports and Outdoors reported a fourth quarter sales growth of 2.5% and a full year growth of 2.0% [1] - The company experienced a decline in comparable sales of 1.6% for the fourth quarter and 1.5% for the full year [1] - Diluted GAAP EPS for the fourth quarter was $1.98, reflecting a 4.8% increase [1] - The company opened 24 new stores in fiscal 2025 and plans to open an additional 20-25 stores in fiscal 2026 [1][8] - A quarterly dividend was increased by 15% per share, marking the fourth consecutive year of growth [1][7] - Academy provided guidance for fiscal 2026, expecting annual sales growth of 2% to 5% [1] Financial Performance - For the fourth quarter ended January 31, 2026, net sales were $1,718.5 million, up from $1,676.9 million in the previous year, a 2.5% increase [2] - Comparable sales for the fourth quarter were down 1.6%, compared to a decline of 3.0% in the same quarter of the previous year [2] - Net income for the fourth quarter was $133.7 million, slightly up from $133.6 million year-over-year [2] - Adjusted net income for the fourth quarter was $132.9 million, down 4.3% from $138.8 million in the previous year [2] - For the full fiscal year, net sales reached $6,053.4 million, a 2.0% increase from $5,933.4 million [3] - Full year net income was $376.8 million, down 9.9% from $418.4 million in the previous year [3] Balance Sheet and Cash Flow - As of January 31, 2026, cash and cash equivalents were $330.3 million, an increase of 14.3% from $288.9 million [5] - Merchandise inventories increased by 14.9% to $1,503.8 million from $1,308.8 million [5] - Long-term debt decreased slightly to $480.8 million from $482.7 million [5] - The company reported net cash provided by operating activities of $434.8 million for the fiscal year, down from $528.1 million [28] - Capital expenditures for the fiscal year were $212.7 million, compared to $199.6 million in the previous year [28] Store Expansion and Strategy - Academy opened five new stores in the fourth quarter, totaling 24 new stores for fiscal 2025 [8] - The company plans to continue its expansion with 20-25 new stores in fiscal 2026 [8] - The CEO emphasized the importance of digital transformation and an omni-channel experience to enhance customer engagement [2] Future Outlook - The company expects to see growth driven by internal initiatives and external factors such as increased tax refunds and significant sporting events [10] - Fiscal 2026 guidance includes net sales expectations between $6,175 million and $6,355 million, with comparable sales projected to range from a decline of 1.0% to an increase of 2.0% [11]