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Academy Sports (ASO) Expands in Indiana With New Store Opening
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Academy Sports and Outdoors, Inc. (ASO - Free Report) unveiled its first store in the Indianapolis area. The new Westfield/Carmel store marks the company’s fifth location in Indiana, signifying its continuous focus on expansion.
Situated in Westfield at 1960 East Greyhound Pass, the company's new approximately 75,000-square-foot store serves as a fun destination for outdoor enthusiasts and sports lovers. The expansion aligns with the company's aim to provide diverse and accessible options, allowing it to offer an extensive range of merchandise, including athletic and casual shoes, equipment, and clothing from renowned national brands. The store's added services, like grill assembly and licensing, enhance customer convenience, while exclusive brand offerings signify ASO's commitment to value and quality.
Going forward, the company remains optimistic in this regard and anticipates the store openings to drive sales in the upcoming periods. ASO is also planning to open its sixth store in Avon, IN, by this fall.
Focus on Expansion
The company's primary growth strategy focuses on expansion through the establishment of new stores. The goal is to leverage the recent momentum by consistently enhancing all aspects of the business and executing three key growth strategies. These strategies involve developing a robust omnichannel presence and driving growth from existing stores through improved service, productivity, enhanced merchandising and captivating customer engagement.
So far this year, ASO has opened three stores, which remains in line with the company's ongoing growth plan to establish 13–15 new locations in 2023. ASO remains steadfast in its commitment to open 120-140 new stores by 2027-end.
Price Performance
Image Source: Zacks Investment Research
Shares of ASO have gained 14.9% in the past year against the industry’s 4.2% fall. The company is likely to benefit from its expansion efforts, product innovation and operational efficiency. Earnings estimates for 2023 have increased to $7.09 per share from $7.05 per share in the past 30 days, depicting analysts’ optimism regarding the growth potential.
The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) suggests growth of 54.5% and 180.3%, respectively, from the year-ago period’s levels.
Trip.com Group Limited (TCOM - Free Report) currently flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 147.9%, on average. The stock has gained 40.8% in the past year.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and EPS suggests increases of 104.9% and 537.9%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2 (Buy) at present. It has a trailing four-quarter earnings surprise of 42.6%, on average. The stock has gained 21.3% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates growth of 44.5% and 110.7%, respectively, from the year-ago period’s levels.
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Academy Sports (ASO) Expands in Indiana With New Store Opening
Academy Sports and Outdoors, Inc. (ASO - Free Report) unveiled its first store in the Indianapolis area. The new Westfield/Carmel store marks the company’s fifth location in Indiana, signifying its continuous focus on expansion.
Situated in Westfield at 1960 East Greyhound Pass, the company's new approximately 75,000-square-foot store serves as a fun destination for outdoor enthusiasts and sports lovers. The expansion aligns with the company's aim to provide diverse and accessible options, allowing it to offer an extensive range of merchandise, including athletic and casual shoes, equipment, and clothing from renowned national brands. The store's added services, like grill assembly and licensing, enhance customer convenience, while exclusive brand offerings signify ASO's commitment to value and quality.
Going forward, the company remains optimistic in this regard and anticipates the store openings to drive sales in the upcoming periods. ASO is also planning to open its sixth store in Avon, IN, by this fall.
Focus on Expansion
The company's primary growth strategy focuses on expansion through the establishment of new stores. The goal is to leverage the recent momentum by consistently enhancing all aspects of the business and executing three key growth strategies. These strategies involve developing a robust omnichannel presence and driving growth from existing stores through improved service, productivity, enhanced merchandising and captivating customer engagement.
So far this year, ASO has opened three stores, which remains in line with the company's ongoing growth plan to establish 13–15 new locations in 2023. ASO remains steadfast in its commitment to open 120-140 new stores by 2027-end.
Price Performance
Image Source: Zacks Investment Research
Shares of ASO have gained 14.9% in the past year against the industry’s 4.2% fall. The company is likely to benefit from its expansion efforts, product innovation and operational efficiency. Earnings estimates for 2023 have increased to $7.09 per share from $7.05 per share in the past 30 days, depicting analysts’ optimism regarding the growth potential.
Zacks Rank and Key Picks
Academy Sports carries a Zacks Rank #4 (sell).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are:
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy) at present. It has a trailing four-quarter earnings surprise of 28.5%, on average. The stock has surged 136.2% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) suggests growth of 54.5% and 180.3%, respectively, from the year-ago period’s levels.
Trip.com Group Limited (TCOM - Free Report) currently flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 147.9%, on average. The stock has gained 40.8% in the past year.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and EPS suggests increases of 104.9% and 537.9%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2 (Buy) at present. It has a trailing four-quarter earnings surprise of 42.6%, on average. The stock has gained 21.3% in the past year.