TX: Academy Sports + Outdoors to Open Up To 100 Stores in Next Five Years

Texas-based Academy Sports + Outdoors says it plans to open up to 100 new stores over the next five years. The sporting goods and outdoor recreational retailer has 259 stores in 16 states, and plans this month to open its first new store in two years, in Conyers, Ga., reports Chain Store Age. 

"We are excited and confident about the future,” Academy Sports chairman, president and CEO Ken Hicks said on the call. “We have established a strong retail foundation, by delivering record results. We have market momentum, and we are starting a new growth phase with the opening of our first new store, in two years next month.” The company posted its 16th consecutive quarter of positive comp sales.

Academy’s sales per square foot in 2021 grew 19% to $370 per square foot, “which is higher than our closest competitors,” CFO Michael Mullican told analysts last week, reports CSA.

Academy posted net income of $141.8 million, or $1.57 per share, for the quarter ended Jan. 29, up from $91.5 million, or $0.97 per share, in the year-ago period. Adjusted earnings per share of $1.61 easily topped analysts' estimates of $1.37.

Sales rose 13.2% to $1.808 billion from $1.597 billion, also topping estimates.  E-commerce sales grew 22.7% compared to the prior-year quarter and 97.2% compared to the fourth quarter of 2019.

For fiscal 2021, net sales increased 19.1% to a record $6.77 billion. When compared to fiscal 2019, net sales increased 40.2%. E-commerce sales increased 6.2% compared to 2020 and increased 153.1% compared to 2019.

“2021 was an extraordinary year for Academy Sports + Outdoors,” stated Hicks. “The team delivered the highest sales and profits in the company's history while navigating the many challenges faced by the company and the retail industry."

Based in Katy, Texas, Academy has grown to 259 stores across 16 contiguous states.