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

This is our first report on sports products major, Academy Sports and Outdoors. In the Q4 and 2023 fiscal year call of Academy Sports and Outdoors, the management reported impressive sales improvement during the quarter and significant progress in their long-term strategic objectives. Sales came in at $1.8 billion, which was a 2.8% increase in total and adjusted earnings per share increased by 8%. Despite not reaching the target for top-line sales growth, the management highlights the underlying weakness in consumer spending on durable goods due to an overall decrease in consumer health. To rectify this, Academy Sports and Outdoors is focusing on delivering an outstanding value proposition to its customers.