Academy Sports (ASO) Expands Domestic Footprint With New Stores
Academy Sports and Outdoors, Inc. ASO is set to open two new stores in Brenham and Kyle this fall. The addition will bring the company's total store count to 109 in Texas, reflecting its growing momentum and success in the domestic market.
The new openings will enhance the shopping experience for customers, providing a dynamic and fun atmosphere with convenient options like buy online pick-up in-store service and free shipping on most online orders over $25. Customers can expect a variety of sports and outdoor products along with in-store services such as free assembly on grills and bikes, fishing line winding/spooling, scope mounting, bore sighting, and the ability to purchase hunting and fishing licenses.
Moreover, the company aims to empower and connect with communities through local sports programming, field and stream activities, and support for military and first responder organizations, fostering positive impacts in the areas. The company looks forward to building relationships to create new opportunities for residents to enjoy outdoor activities.
Expansion to Drive Growth
The company's primary growth strategy focuses on expansion through the establishment of new stores. Year to date, the company opened two new stores in Peoria, Ill and Lafayette, IN. ASO reported solid performance with respect to Lafayette store in the first quarter of fiscal 2023. The upside can be attributed to the implementation of improved localized assortments, enhanced pre-opening preparations and extended post-opening marketing efforts.
The company is optimistic in this regard and anticipates the store openings to drive sales in the upcoming periods. The company intends to open 13-15 stores this year and aims to achieve a total of 120-140 new stores by the end of 2027.
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Shares of ASO have increased 29.7% in the past year compared with the industry’s 15.7% rise. In the past three months, shares of the company have declined 17.9%.
Zacks Rank & Key Picks
Academy Sports and Outdoors currently carries a Zacks Rank #5 (Strong Sell).
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