Academy Sports + Outdoors has reported its financial results for the first quarter ended May 3, 2025, showcasing a mix of positive and challenging metrics.
The company's net sales for the first quarter declined by 0.9% compared to the same period last year, totaling $1,351.4 million. Comparable sales also saw a decline of 3.7% compared to a 5.7% decline in the previous year.
E-commerce sales, however, showed a positive trend with a 10.2% increase, indicating a growing preference for online shopping among consumers.
Academy opened five new stores during the quarter, contributing to a total of 303 locations across 21 states. This expansion has led to a 15.0% increase in merchandise inventories compared to the previous year.
The company's initiatives to mitigate tariff impacts have been notable. They have reduced their cost exposure to approximately 9% of total cost of goods sold directly related to China for their private label business and aim to further reduce this to around 6% by the end of fiscal 2025.
In terms of financial returns to shareholders, Academy returned $108 million through share buybacks and dividends. The company repurchased shares worth $99.9 million, representing a 19.1% decrease from the previous year, and paid dividends of $8.7 million, reflecting a 6.1% increase.
The financial outlook for fiscal 2025 has been revised, with the company widening its annual comp sales guidance range to -4% to +1% to account for potential downside created by inflationary pressures for the remainder of the year.
As a result of these announcements, the company's shares have moved 2.09% on the market, and are now trading at a price of $44.37. For the full picture, make sure to review Academy Sports & Outdoors's 8-K report.
