Academy Sports and Outdoors: Product Assortment & New Brand Inclusion As A Pivotal Growth Lever!

Academy Sports and Outdoors recently reported mixed results for their third quarter of fiscal 2024. Comparable sales decreased by 4.9%, aligning with previous guidance, yet indicated improvement over the first half of the year. The decrease was partly due to unusual warm weather negatively impacting seasonal merchandise and comparisons against last year’s Texas Rangers World Series boost. Gross margins dropped by 50 basis points to 34.0%, primarily due to added supply chain costs from their Georgia distribution facility and the necessity to expedite merchandise through the West Coast ahead of a potential East Coast port strike.