Texas Based Academy Sports + Outdoors Beats Earnings and Sales Expectations, Increases Share Buybacks

Academy Sports + Outdoors released better than expected 1Q23 earnings, coupled with a new $600 mln share repurchase program. This brought the total amount available for repurchase up to $700 mln, which saw the stock close 8.80% higher. This accounts to almost a quarter of ASO’s total float. Academy’s earnings have been bolstered by the American enthusiasm for outdoor activities, sports, and recreation. $ASO beat top and bottom-line estimates for the seventh straight quarter. ASO’s comparable sales decline of 7.5% … Continue reading “Texas Based Academy Sports + Outdoors Beats Earnings and Sales Expectations, Increases Share Buybacks”

Texas Based Academy Sports + Outdoors Earnings and Sales Surge Mitigating Supply Chain Headwinds

Academy Sports + Outdoors earnings were bolstered by the American enthusiasm for outdoor activities, sports, and recreation. $ASO beat top and bottom-line estimates for the sixth straight quarter and generated positive comparable store sales growth for the tenth consecutive quarter at +13.1% for 4Q22. The company also beat a very difficult yr/yr comparison of +16.1% in 4Q21. ASO’s diverse product line and flexible supply chain to mitigate many supply crisis headwinds. Like major competitor Dick’s Sporting Goods ($DKS), Academy capitalized on … Continue reading “Texas Based Academy Sports + Outdoors Earnings and Sales Surge Mitigating Supply Chain Headwinds”