Overview
- Academy delivered 76 cents in adjusted EPS for Q1—below the roughly 90-cent consensus—as net income fell 39.7% and net sales slipped 0.9% to $1.35 billion.
- E-commerce revenue rose 10.2% in Q1, contrasting with a 3.7% decline in comparable-store sales.
- The company cut its private-label goods’ direct cost exposure to China to about 9%, aiming for 6% by the end of fiscal 2025 through diversified sourcing.
- Academy opened five new stores across Pennsylvania, Maryland, Missouri and North Carolina and plans to add 20 to 25 more locations this fiscal year.
- During Q1, the retailer rolled out the Jordan Brand in stores—the largest brand launch in its history—to strengthen its private-brand portfolio, which represents about 23% of merchandise sales.