Academy Sports and Outdoors, Inc. (NASDAQ:ASO) shares are trading lower on Tuesday.
The company reported second-quarter adjusted earnings per share of $2.03, which is in line with the analyst consensus estimate. Quarterly sales of $1.549 billion (down 2.2%) missed the street view of $1.574 billion.
“Sales for the second quarter were more challenging than expected, impacted by a tough economy, a temporary distribution center backlog related to going live with a new warehouse management system and by a very active storm season across key portions of our footprint,” said Carl Ford, Chief Financial Officer.
Academy Sports registered a comparable sales decline of 6.9%, comparatively narrower than the decline of 7.5% year over year.
Academy Sports is ...
