Academy Sports + Outdoors reported a 3.3% increase in second-quarter sales with comparable sales up by 0.2% and eCommerce sales rising by 17.7%.
The company's diluted GAAP EPS for the second quarter was $1.85. Academy also opened three new stores during the quarter.
Despite a challenging market environment, Academy Sports + Outdoors maintained the high end of its guidance range and raised the low end, showcasing its strategic progress and market resilience.
Sales Performance
Second quarter sales increased by 3.3%, reflecting positive comp growth. Comparable sales were up by 0.2%.
Earnings Update
Diluted GAAP EPS for the second quarter reached $1.85, demonstrating solid financial performance amidst market challenges.
Strategic Expansion
Academy opened three new stores in Florida, Virginia, and West Virginia, enhancing its retail footprint and market presence.
Guidance Outlook
The company maintained the high end of its guidance range and raised the low end, indicating confidence in future growth prospects.
- Academy Sports + Outdoors attributes its second quarter sales growth to strategic initiatives and a diversified assortment that resonates with customers.
- The positive comp sales and rise in eCommerce sales highlight the company's ability to adapt to evolving consumer preferences and market dynamics.
As Academy Sports + Outdoors navigates market challenges, its second quarter performance signals resilience and strategic advancement. The company's confidence in raising the guidance range underscores its commitment to sustainable growth and market leadership.