The earnings call highlighted challenges such as sales and margin declines, along with concerns about shrink and e-commerce performance. However, it also showcased positive developments, including new store openings, strategic partnerships, and advancements in customer data analytics. While there are growth initiatives in place, the overall sentiment reflects a cautious outlook amidst ongoing challenges.

Company Guidance

During the earnings call for Academy Sports and Outdoors' third quarter of fiscal 2023, several key metrics and guidance were discussed. The company reported a total sales of $1.4 billion, marking a 6.4% decline and an 8% negative comp. Adjusted earnings per share were $1.38. The gross margin for the quarter was 34.5%, a 50 basis point erosion from the previous year, primarily due to a 49 basis point decline in merchandise margins. SG&A expenses increased to $345.9 million, or 24.7% of net sales, up 170 basis points from last year. The company opened five new stores in Q3, contributing to a total of 14 new openings for 2023. Academy also adjusted its full-year guidance, narrowing net sales expectations to between $6.10 billion and $6.17 billion, with comparable sales projected to be negative 7.5% to negative 6.5%. Adjusted diluted earnings per share are expected to range from $7.05 to $7.20. The company emphasized ongoing investments in new stores, omnichannel growth, customer data, and supply chain improvements, viewing these as critical to driving future growth despite current consumer pressures.

New Store Openings

During the third quarter, Academy Sports and Outdoors opened 5 new stores, and 7 additional stores were opened in November, marking the largest number of new store openings in a single month for the company.

Partnership with Fanatics

Academy Sports and Outdoors expanded its offerings in NCAA merchandise through a new partnership with Fanatics, which doubled the number of styles available to customers.

Customer Data Platform Implementation

The company implemented a new customer data platform in Q2, which has begun to yield promising results in driving customer engagement and sales.

Strong Cash Position

Academy Sports and Outdoors reported $275 million in cash and no outstanding borrowings on its $1 billion credit facility at the end of the quarter.

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Academy Sports and Outdoors (ASO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ASO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 01, 2025	2024 (Q4)	1.83 / -	2.21	―	―	―
Dec 10, 2024	2024 (Q3)	1.26 / 0.98	1.38	-28.99% (-0.40)
Sep 10, 2024	2024 (Q2)	2.03 / 2.03	2.09	-2.87% (-0.06)	―
Jun 11, 2024	2024 (Q1)	1.21 / 1.08	1.304	-17.18% (-0.22)	―
Mar 21, 2024	2023 (Q4)	2.29 / 2.21	2.04	8.33% (+0.17)
Nov 30, 2023	2023 (Q3)	1.58 / 1.38	1.69	-18.34% (-0.31)	―
Aug 31, 2023	2023 (Q2)	1.99 / 2.09	2.3	-9.13% (-0.21)	―
Jun 06, 2023	2023 (Q1)	1.65 / 1.30	1.691	-22.89% (-0.39)	―
Mar 16, 2023	2022 (Q4)	1.81 / 2.04	1.61	26.71% (+0.43)	―
Dec 07, 2022	2022 (Q3)	1.59 / 1.69	1.75	-3.43% (-0.06)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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ASO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 10, 2024	$50.31	$52.48	+4.31%
Sep 10, 2024	$52.44	$55.17	+5.21%
Jun 11, 2024	$53.11	$51.39	-3.24%
Mar 21, 2024	$70.72	$63.95	-9.57%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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