Academy Sports and Outdoors (NASDAQ:ASO) outlined its growth strategy during an investor event on Tuesday.
The retailer plans to expand its store base by 50% in existing and new markets, as well as drive the existing business through improved service and productivity in stores. The total address market in the U.S. for ASO was noted to be +$175B due to the lasting shift of consumers to outdoor activities, in-home health and wellness, as well as nesting and leisure trends.
Academy Sports and Outdoors (ASO) also reaffirmed 2023 guidance for sales of $6.5B to $6.7B vs. $6.6B consensus and EPS of $6.70 to $7.45. Long-term guidance from Academy Sports and Outdoors (ASO) was for fiscal year 2027 sales to be above $10B compared to the $6.40B generated in fiscal year 2022. On the balance sheet, ASO said it still plans to return capital to shareholders through dividend growth, opportunistic share repurchases, and debt paydown.
Shares of ASO were down 4.41% on Tuesday at 1:22 p.m.
Read the latest breakdowns on Academy Sports and Outdoors (ASO) from Seeking Alpha contributors.
Academy Sports and Outdoors guides for more than $10B in sales in 2027
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