Academy Sports and Outdoors Inc

Latest Results (22.11.2025):

Academy Sports and Outdoors Inc. reported results for the second quarter of fiscal 2025 (quarter ended August 2, 2025). Sales rose to $1,599.8 million (+3.3% vs. Q2 FY24) with comparable sales up 0.2%. eCommerce grew 17.7%. GAAP diluted EPS was $1.85 (down 5.1% year-over-year) and net income was $125.4 million (down 12.1%). The company updated and narrowed its full-year guidance, raised the low end of sales guidance, and reiterated confidence in strategic initiatives and tariff mitigation actions.

Sales and Comparable Sales

Q2 net sales: $1,599.8M (+3.3% vs. prior year). Comparable sales improved to +0.2% in Q2 (versus -6.9% last year), and year-to-date comps were -1.7% (versus -6.4% LY).

Digital Performance

eCommerce sales grew 17.7% in the quarter, contributing to overall top-line strength and helping offset in-store headwinds.

Profitability and EPS

Income before income tax was $164.8M (-11.6% Y/Y). GAAP net income was $125.4M (-12.1% Y/Y). GAAP diluted EPS was $1.85 (down 5.1%); adjusted diluted EPS was $1.94 (down 4.4%).

Balance Sheet and Inventory

Cash and cash equivalents were $300.9M (down 7.3% Y/Y). Merchandise inventory rose to $1,587.6M (+16.2% Y/Y); inventory per store was up 4.5% in units and 8.2% in dollars.

Capital Allocation and Dividend

Share repurchases YTD were $99.9M (down 55.1% Y/Y). Dividends paid were $17.4M; the Board declared a quarterly cash dividend of $0.13 per share payable October 9, 2025.

Store Growth

Academy opened three stores in Q2 (Florida, Virginia, West Virginia), bringing the total to 306 stores across 21 states. The company plans 20–25 store openings in fiscal 2025.

Tariff Mitigation

Management said it has largely offset incremental tariff impacts for fiscal 2025 through vendor/factory partnerships, country-of-origin shifts, adjusted buys, pulling domestic inventory, and pricing optimization.

Updated Fiscal 2025 Guidance

Academy narrowed and raised the low end of guidance: updated net sales guidance $6,000M to $6,265M (previous low $5,970M). Comparable sales guidance is -3.0% to +1.0%. GAAP diluted EPS guidance is $5.30–$6.00; adjusted diluted EPS guidance is $5.60–$6.30. Management expects a full-year tax rate of ~23.5%.