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Academy Sports (ASO) on Expansion Spree, Sets Foot in Brenham
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Academy Sports and Outdoors, Inc. (ASO - Free Report) debuts its first store in Brenham, TX, marking the fourth opening so far in 2023.
The 63,000-square-foot store houses a wide variety of sports and outdoors merchandise, comprising top national brands as well as exclusive private label brands. The Brenham community can avail diversified collection of sports equipment including football, volleyball, fishing and camping necessities, lifejackets and much more. The store also provides free services such as grill and bike assembly, scope mounting, bore sighting, and line winding/spooling. Hunting and fishing licenses can be purchased at the store as well.
The company will be hosting the grand opening of the store from Sep 15 till Sep 17. The festivities will include special appearances as well as exclusive giveaways and offers.
Academy Sports is optimistic about the new opening as it believes this to be a step forward toward fulfilling its expansion goals along with being able to cater to the diversified demand patterns of the Brenham community.
ASO’s Growth Initiatives
Academy Sports focuses on investment for various growth initiatives, which comprise new store expansion, omnichannel advancements, digital marketing projects and existing store improvements. Also, product portfolio expansion strategies bode well.
Store expansion is the company’s prime growth strategy. As of September 2023, it operates 270 stores across 18 states in the US. ASO expects to open about 13 to 15 new stores in fiscal 2023 and 120-140 new stores by the end of 2027.
Furthermore, ASO focuses on providing a wide variety of products through collaborations and product innovation. On Aug 30, 2023, the company partnered with Fanatics to enhance the assortment of officially licensed merchandise available to Academy customers, both in-store and online. On the same date, it also collaborated with L.L. Bean to offer its customers a selection of the American brand’s products in-store as well as online.
Price Performance
Shares of ASO have gained 2.7% in the past year, outperforming the Zacks Leisure and Recreation Products industry’s 2.1% rise. The uptrend is attributable to its focus on expansion efforts, product innovation and operational enhancements. Also, the emphasis on promotions and clearance sales bodes well.
Image Source: Zacks Investment Research
Going forward, the company intends to focus on omnichannel improvements, digital enhancements along with strengthening its inventory position (with seasonally appropriate products) to maintain its growth momentum in the upcoming period. Earnings estimates for fiscal 2023 have increased in the past 30 days, depicting analysts’ optimism about the stock’s potential.
Zacks Rank
Academy Sports currently carries a Zacks Rank #3 (Hold).
RCL has a trailing four-quarter earnings surprise of 28.5%, on average. The stock has surged 102.3% in the past year. The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) indicates growth of 54.5% and 180.3%, respectively, from the year-ago period’s levels.
Live Nation presently sports a Zacks Rank of 1. LYV has a trailing four-quarter earnings surprise of 34.6%, on average. The stock has declined 11.5% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS suggests rises of 21% and 57.8%, respectively, from the year-ago period’s levels.
Strategic Education currently sports a Zacks Rank of 1. STRA has a trailing four-quarter earnings surprise of 12.1%, on average. Shares of the company have increased 20.5% in the past year.
The Zacks Consensus Estimate for STRA’s 2023 sales and EPS implies improvements of 4.9% and 27.9%, respectively, from the year-ago period’s levels.
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Academy Sports (ASO) on Expansion Spree, Sets Foot in Brenham
Academy Sports and Outdoors, Inc. (ASO - Free Report) debuts its first store in Brenham, TX, marking the fourth opening so far in 2023.
The 63,000-square-foot store houses a wide variety of sports and outdoors merchandise, comprising top national brands as well as exclusive private label brands. The Brenham community can avail diversified collection of sports equipment including football, volleyball, fishing and camping necessities, lifejackets and much more. The store also provides free services such as grill and bike assembly, scope mounting, bore sighting, and line winding/spooling. Hunting and fishing licenses can be purchased at the store as well.
The company will be hosting the grand opening of the store from Sep 15 till Sep 17. The festivities will include special appearances as well as exclusive giveaways and offers.
Academy Sports is optimistic about the new opening as it believes this to be a step forward toward fulfilling its expansion goals along with being able to cater to the diversified demand patterns of the Brenham community.
ASO’s Growth Initiatives
Academy Sports focuses on investment for various growth initiatives, which comprise new store expansion, omnichannel advancements, digital marketing projects and existing store improvements. Also, product portfolio expansion strategies bode well.
Store expansion is the company’s prime growth strategy. As of September 2023, it operates 270 stores across 18 states in the US. ASO expects to open about 13 to 15 new stores in fiscal 2023 and 120-140 new stores by the end of 2027.
Furthermore, ASO focuses on providing a wide variety of products through collaborations and product innovation. On Aug 30, 2023, the company partnered with Fanatics to enhance the assortment of officially licensed merchandise available to Academy customers, both in-store and online. On the same date, it also collaborated with L.L. Bean to offer its customers a selection of the American brand’s products in-store as well as online.
Price Performance
Shares of ASO have gained 2.7% in the past year, outperforming the Zacks Leisure and Recreation Products industry’s 2.1% rise. The uptrend is attributable to its focus on expansion efforts, product innovation and operational enhancements. Also, the emphasis on promotions and clearance sales bodes well.
Image Source: Zacks Investment Research
Going forward, the company intends to focus on omnichannel improvements, digital enhancements along with strengthening its inventory position (with seasonally appropriate products) to maintain its growth momentum in the upcoming period. Earnings estimates for fiscal 2023 have increased in the past 30 days, depicting analysts’ optimism about the stock’s potential.
Zacks Rank
Academy Sports currently carries a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks from the Consumer Discretionary sector are Royal Caribbean Cruises Ltd. (RCL - Free Report) , Live Nation Entertainment, Inc. (LYV - Free Report) and Strategic Education, Inc. (STRA - Free Report) .
Royal Caribbean presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 28.5%, on average. The stock has surged 102.3% in the past year. The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) indicates growth of 54.5% and 180.3%, respectively, from the year-ago period’s levels.
Live Nation presently sports a Zacks Rank of 1. LYV has a trailing four-quarter earnings surprise of 34.6%, on average. The stock has declined 11.5% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS suggests rises of 21% and 57.8%, respectively, from the year-ago period’s levels.
Strategic Education currently sports a Zacks Rank of 1. STRA has a trailing four-quarter earnings surprise of 12.1%, on average. Shares of the company have increased 20.5% in the past year.
The Zacks Consensus Estimate for STRA’s 2023 sales and EPS implies improvements of 4.9% and 27.9%, respectively, from the year-ago period’s levels.