Shares of Academy Sports + Outdoors Inc. rose in premarket trading after the retailer posted first quarter results where adjusted diluted earnings per share (EPS) was better than Wall Street expectations.
Shares of Academy rose nearly 2.9 percent to $53.15 immediately after it reported first quarter results.
For the quarter ended May 2, net income rose 14.3 percent to $52.7 million, or 80 cents a diluted share, from $46.1 million, or 68 cents, a year ago. On an adjusted basis, EPS was 93 cents. Net sales rose 6.7 percent to $1.44 billion from $1.35 billion. The outdoor retailer said comparable sales growth was 2.9 percent, with e-commerce sales increasing 17.4 percent in the quarter.
Wall Street was expecting adjusted diluted EPS of 92 cents on revenue of $1.44 billion.
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“We were pleased with the continued improvement in our results in Q1, with total sales up 6.7 percent, driven by increases in both traffic and average ticket,” Steve Lawrence, Academy’s CEO, said. “Based on our Q1 performance, we are raising the low end of our full-year guidance.”
Lawrence added: “While we expect inflationary pressures to continue impacting consumer spending for the remainder of the year, our goal is to build on the momentum in our business. We plan to accomplish this by methodically executing against our long-range strategies as we continue to offer customers compelling assortments at outstanding values.”
Carl Ford, Academy’s executive vice president and CFO, said the first quarter was “off to a good start.” He said the company remains “prudent” about the macroenvironment and that the updated fiscal 2026 guidance range reflects a consumer under pressure.
The updated guidance forecasts net sales ranging from $6.23 billion to $6.36 billion, with GAAP net income between $390 million to $415 million. That compares with prior guidance from March 17, 2026, when net sales was projected at between $6.18 billion to $6.36 billion and GAAP net income was guided to the range of $380 million to $415 million.
The outdoor retailer opened two new stores during the first quarter, and said it plans to open three stores during the second quarter. The company operated 324 locations at the end of the first quarter. It is on track to open the remaining 15 to 20 doors over the back half of the fiscal 2026.
In an interview in April with Academy’s Matt McCabe, executive vice president and chief merchandising officer, he said the retailer will have full displays and key items in 42 key stores for FIFA World Cup as 30 games are within the retailer’s store footprint. He also expects shoe sales will benefit as the World Cup is likely to increase participation in the sport and kids will want their cleats.
The company is also looking at a smaller square footage of between 50,000 to 55,000 square feet — most city area stores are between 63,000 to 65,000 square feet — for new stores targeting suburbs where consumers are either outdoor enthusiasts or a sporting family where members participate in multiple sports activities, McCabe said.
