By Emon Reiser
Academy Sports & Outdoors reported lower profit and sales in the fourth quarter, but said it anticipates a return to top-line sales growth in the fiscal year ahead.
The Katy, Texas, sporting-goods retailer on Thursday posted net income of $133.6 million, or $1.89 a share for the quarter ended Feb. 1, compared with a profit of $168.2 million, or $2.21 a share, in the same period a year ago.
Stripping out one-time items, adjusted earnings were $1.96 a share. Analysts polled by FactSet had expected $1.83 a share.
Quarterly sales declined 6.6% to $1.68 billion, matching analysts' forecasts, according to FactSet. Comparable sales fell 3%, while analysts were expecting a steeper drop of 4.3%.
The company opened five new stores during the quarter.
For the full year, Academy Sports guided for sales between $6.09 billion and $6.27 billion. Net income is expected to be between $375 million, or $5.40 a share, and $410 million, or $5.85 a share.
Academy Sports said it expects the first quarter of the year to be the most challenging as the company plans to open five stores and launch the Jordan brand in 145 stores, beginning in April.
In 2025, the company plans to open up to 25 new stores.
Write to Emon Reiser at emon.reiser@wsj.com
(END) Dow Jones Newswires
March 20, 2025 08:37 ET (12:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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