eCommerce Sales Increase of 17.4%
New Stores Comp Positive High Single Digits
First Quarter Diluted GAAP EPS of $0.80; up 17.6%; Adjusted EPS of $0.93; up 22.4%
Opened Two New Stores in Ohio and Oklahoma
Company Raises Guidance Based on First Quarter Performance
KATY, Texas, June 09, 2026 (GLOBE NEWSWIRE) -- Academy Sports and Outdoors, Inc. (NASDAQ:ASO) ("Academy" or the "Company") today announced its financial results for the first quarter ended May 2, 2026.
"We were pleased with the continued improvement in our results in Q1, with total sales up 6.7%, driven by increases in both traffic and average ticket," said Steve Lawrence, Chief Executive Officer. "Based on our Q1 performance, we are raising the low end of our full-year guidance. While we expect inflationary pressures to continue impacting consumer spending for the remainder of the year, our goal is to build on the momentum in our business. We plan to accomplish this by methodically executing against our long-range strategies as we continue to offer customers compelling assortments at outstanding values."
First Quarter Operating Results($ in millions, except per share data)
Thirteen Weeks Ended
Change
May 2, 2026
May 3, 2025
%
Net sales
$
1,442.0
$
1,351.4
6.7
%
Comparable sales
2.9
%
(3.7
)
%
Income before income tax
$
68.9
$
63.0
9.4
%
Net income
$
52.7
$
46.1
14.3
%
Adjusted net income (1)
$
61.2
$
51.6
18.6
%
Earnings per common share, diluted
$
0.80
$
0.68
17.6
%
Adjusted earnings per common share, diluted (1)
$
0.93
$
0.76
22.4
%
(1) Adjusted net income and adjusted earnings per common share (EPS), diluted are non-GAAP measures. See "Non-GAAP Measures" and "Reconciliations of GAAP to Non-GAAP Financial Measures" below for reconciliations of non-GAAP financial measures to their most directly comparable GAAP financial measures.
Thirteen Weeks Ended
Change
Balance Sheet ($ in millions)
May 2, 2026
May 3, 2025
%
Cash and cash equivalents
$
337.8
$
285.1
18.5
%
Merchandise inventories, net (1)
$
1,654.4
$
1,560.0
6.1
%
Long-term debt, net
$
480.3
$
482.2
(0.4
)
%
(1) As of May 2, 2026 inventory per store was down 6.8% in units and down 0.8% in dollars.
Thirteen Weeks Ended
Change
Capital Allocation ($ in millions)
May 2, 2026
May 3, 2025
%
Share repurchases (1)
$
99.3
$
99.9
(0.6
)
%
Dividends paid
$
9.6
$
8.7
10.3
%
(1) Includes excise tax fees of $0.8 million and $0.9 million for the thirteen weeks ended May 2, 2026 and May 3, 2025, respectively.
Subsequent to the end of the first quarter, Academy announced that its Board of Directors on June 4, 2026 declared a quarterly cash dividend with respect to the quarter ended May 2, 2026, of $0.15 per share of common stock. The dividend is payable on July 16, 2026, to stockholders of record as of the close of business on June 18, 2026.
New Store OpeningsAcademy opened two new stores during the first quarter, bringing its total to 324 locations. The Company plans to open three stores during the second quarter, with the remaining 15-20 to be opened in the second half of fiscal 2026.
Academy Store Footprint Update
Time Frame
Total stores open atbeginning of theperiod
Number of storesopened during theperiod
Number of storesclosed during theperiod
Total stores open atend of period
1st Quarter 2025
298
5
—
303
FY 2025
298
24
—
322
1st Quarter 2026
322
2
—
324
Time Frame
Total gross squarefeet open atbeginning of theperiod (1)
Gross square feetfor stores openedduring the period (1)
Gross square feetfor stores closedduring the period
Total gross squarefeet at the end ofthe period (1)
1st Quarter 2025
20,604
275
20,879
FY 2025
20,604
1,321
—
21,925
1st Quarter 2026
21,925
112
—
22,037
(1) Figures in thousands
2026 Outlook
"The first quarter got off to a good start, and we delivered a 6.7% increase in sales, a 14.2% increase in free cash flow, a 14.3% increase in net income, and a 17.6% increase in GAAP EPS," said Carl Ford, Executive Vice President and Chief Financial Officer. "We remain prudent about the macroenvironment and the updated fiscal 2026 guidance range reflects our belief that the consumer will remain under pressure for the duration of 2026. We're confident that our strategies will allow us to serve this consumer and deliver value to shareholders."
Academy is providing the following updated guidance for fiscal 2026 (i.e., year ending January 30, 2027), as compared to the original guidance given on March 17, 2026. This guidance takes into account various factors, both internal and external, such as the expected benefits of the Company's growth initiatives, current consumer demand, the competitive environment, and potential impacts from inflation and other economic risks; actual results may differ materially.
Original Fiscal 2026Guidance
Updated Fiscal 2026Guidance
change(at midpoint)
(in millions, except per share amounts)
Low end
High end
Low end
High end
2025Actuals
vs. 2025
Net sales
$
6,175
$
6,355
$
6,230
$
6,355
$
6,053
4.0
%
Sales Growth
2.0
%
5.0
%
3.0
%
5.0
%
2.0
%
100.0
%
Comparable sales (1)
(1.0
)
%
2.0
%
—
%
2.0
%
(1.5
)
%
166.7
%
Gross margin rate
34.5
%
35.0
%
34.5
%
35.0
%
34.8
%
—
%
GAAP net income
$
380
$
415
$
390
$
415
$
377
6.8
%
Adjusted net income (2)
$
410
$
445
$
420
$
445
$
393
10.1
%
GAAP earnings per common share, diluted
$
5.65
$
6.15
$
5.95
$
6.35
$
5.54
11.0
%
Adjusted earnings per common share, diluted (2)
