From Yahoo Finance: 2025-06-10 13:11:00

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) posted first-quarter results, with adjusted earnings per share at 76 cents, missing analyst expectations. Net sales of $1.35 billion fell short of the expected $1.37 billion. Sales dropped by 0.9%, with comparable sales down by 3.7%.

Despite the decline, eCommerce sales rose by 10.2%, and new store locations contributed positively. Quarterly adjusted EBITDA dropped to $109.764 million. The company plans to open 20 to 25 stores in fiscal 2025 and launched the Jordan Brand in stores.

Academy Sports aims to reduce its reliance on China by partnering with suppliers in other countries, lowering its exposure to Chinese goods to 9% of total cost of goods sold. The company plans to further decrease this exposure to around 6% by the end of fiscal year 2025.

CEO Steve Lawrence widened annual comp sales guidance range to -4% to +1% due to potential inflationary pressures. Academy Sports plans to leverage its private brand portfolio to offer customers high-margin value options. The company ended the quarter with cash and equivalents of $285.1 million, declaring a quarterly cash dividend of 13 cents per share.

Academy Sports adjusted its full-year guidance, revising adjusted earnings per share to $5.45-$6.25 and sales outlook to $5.97 billion-$6.26 billion for fiscal year 2025. The company returned $108 million to shareholders through share repurchases and paid dividends.

Read more: Academy Sports Touts China Diversification While Widening Guidance On Tariff Risks