Academy Sports and Outdoors, Inc.:  Initiation of Coverage – Why Are We Bullish On This Sports Products Giant?

Academy Sports and Outdoors recently reported a second-quarter fiscal 2024 revenue of $1.55 billion,
marking a 2.2% decrease compared to the previous year. This decline equates to a 6.9% negative
comparable store sales on a shifted basis. Several factors attributed to this downturn, including economic
pressures on consumers like high inflation and increased credit card debt, adverse weather events, and
operational disruptions from a distribution center conversion to a new warehouse management system.