Academy Sports and Outdoors Inc
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +3.60%.
Did ASO Beat Earnings? Q1 2026 Results
Academy Sports & Outdoors stumbled in its fiscal first quarter, delivering results that fell well short of Wall Street's expectations as a difficult consumer environment weighed on the sporting goods retailer. The company posted revenue of $1.35 billion for the thirteen weeks ended May 3, 2025, down 0.9% year-over-year and slightly below the $1.37 billion consensus estimate, while GAAP diluted EPS of $0.68 missed the $0.89 analyst forecast by 23.70%, declining sharply from $1.01 in the year-ago period. The primary culprit was a 3.7% comparable sales decline, which pressured operating income to $69.27 million from $102.38 million a year prior, even as gross margin nudged higher to 34.0%. Looking ahead, the company widened its full-year guidance range to reflect tariff uncertainty, now projecting adjusted diluted EPS of $5.45 to $6.25 and net sales of $5.97 billion to $6.27 billion, while continuing to expand its store footprint toward a target of 20 to 25 new locations in fiscal 2025.
- eCommerce sales increased 10.2%
- Sequential comparable sales improvement across each month of the quarter with positive comp in April
- New stores continue to comp positive low single digits
- Gross margin expanded 60 basis points to 34.0%
- Jordan Brand launch in 145 doors and online exceeded sales plans
- Nike expanded assortment exceeding sales plans through May
- Strong growth in traffic from higher income consumers
“During the first quarter we saw continued progress across our strategic initiatives, including the opening of five new stores, and the biggest brand launch in the Company's history with the addition of the Jordan Brand.”
Academy Sports & Outdoors CEO, on the earnings call
Forward Guidance & Outlook
Academy widened its fiscal 2025 (year ending January 31, 2026) guidance to account for tariff uncertainty. Updated guidance: Net sales of $5.97B to $6.265B; comparable sales of -4.0% to +1.0% (previously -2.0% to +1.0%); gross margin rate of 34.0% to 34.5%; GAAP diluted EPS of $5.10 to $5.90 (previously $5.40 to $5.85); adjusted diluted EPS of $5.45 to $6.25 (previously $5.75 to $6.20); capital expenditures of $180M to $220M (previously $220M to $250M); adjusted free cash flow of $250M to $320M (previously $290M to $320M). The high end assumes reciprocal tariffs land at 10% for all countries including China, while the low end assumes China stays at 145% with original reciprocal tariffs remaining. Plans to open 20-25 new stores in fiscal 2025.
ASO YoY Financials
Figures from SEC filings and company reports. Not investment advice.