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Academy Sports (ASO) Expands Footprint With Seven New Stores
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Academy Sports and Outdoors, Inc. (ASO - Free Report) is continuously expanding its footprint by opening new stores. In November 2023, it opened seven new stores across five different states, bringing the total number of newly opened stores to 14 in fiscal 2023.
The locations of the newly opened stores include Tampa Bay and West Palm Beach, FL; Austin and Harlingen, TX; Indianapolis, IN; Christiansburg, VA; and Springfield, IL. The total contribution of Academy Sports to open stores in these communities was more than $40,000.
Every newly opened store will offer a variety of apparel, footwear, sports and camping equipment, hunting and fishing gear, and more from top national as well as private label brands at an everyday value.
Growth Initiatives of Academy Sports
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 November 2023, it operates 282 stores across 18 states in the US. ASO expects to open about 120-140 new stores by the end of 2027.
Furthermore, Academy Sports 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.
Image Source: Zacks Investment Research
Shares of ASO have declined 2.2% in the past three months compared with the Zacks Leisure and Recreation Products industry’s 13% decline. The company intends to focus on omnichannel improvements and digital enhancements along with strengthening its inventory position (with seasonally appropriate products) to ensure its growth momentum in the upcoming period.
Zacks Rank & Key Picks
Academy Sports currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks that investors may consider from the Zacks Consumer Discretionary sector.
It has a trailing four-quarter earnings surprise of 28.3%, on average. The stock has surged 76.4% in the past year. The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) suggests rises of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. (LYV - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 37.5%, on average. The stock has gained 16.2% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a 28.7% and 137.5% rise, respectively, from the year-ago period’s levels.
Grand Canyon Education, Inc. (LOPE - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 9.9%, on average. The stock has increased 21.8% in the past year.
The Zacks Consensus Estimate for LOPE’s 2023 sales and EPS suggests an improvement of 7.1% and 17.1%, respectively, from the year-ago period’s levels.
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Academy Sports (ASO) Expands Footprint With Seven New Stores
Academy Sports and Outdoors, Inc. (ASO - Free Report) is continuously expanding its footprint by opening new stores. In November 2023, it opened seven new stores across five different states, bringing the total number of newly opened stores to 14 in fiscal 2023.
The locations of the newly opened stores include Tampa Bay and West Palm Beach, FL; Austin and Harlingen, TX; Indianapolis, IN; Christiansburg, VA; and Springfield, IL. The total contribution of Academy Sports to open stores in these communities was more than $40,000.
Every newly opened store will offer a variety of apparel, footwear, sports and camping equipment, hunting and fishing gear, and more from top national as well as private label brands at an everyday value.
Growth Initiatives of Academy Sports
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 November 2023, it operates 282 stores across 18 states in the US. ASO expects to open about 120-140 new stores by the end of 2027.
Furthermore, Academy Sports 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.
Image Source: Zacks Investment Research
Shares of ASO have declined 2.2% in the past three months compared with the Zacks Leisure and Recreation Products industry’s 13% decline. The company intends to focus on omnichannel improvements and digital enhancements along with strengthening its inventory position (with seasonally appropriate products) to ensure its growth momentum in the upcoming period.
Zacks Rank & Key Picks
Academy Sports currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks that investors may consider from the Zacks Consumer Discretionary sector.
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
It has a trailing four-quarter earnings surprise of 28.3%, on average. The stock has surged 76.4% in the past year. The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) suggests rises of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. (LYV - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 37.5%, on average. The stock has gained 16.2% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a 28.7% and 137.5% rise, respectively, from the year-ago period’s levels.
Grand Canyon Education, Inc. (LOPE - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 9.9%, on average. The stock has increased 21.8% in the past year.
The Zacks Consensus Estimate for LOPE’s 2023 sales and EPS suggests an improvement of 7.1% and 17.1%, respectively, from the year-ago period’s levels.