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<p class="has-drop-cap">Academy Sports and Outdoors, Inc. (NASDAQ: ASO) has released its <a aria-label="first-quarter results (opens in a new tab)" href="https://investors.academy.com/news-releases/news-release-details/academy-sports-outdoors-reports-first-quarter-2024-results" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">first-quarter results</a> for 2024, revealing a mixed performance. <br><br>The company’s net sales declined by 1.4%, while comparable sales dropped by 5.7%. Despite these declines, Academy managed to achieve a <a href="https://tokenist.com/investing/how-to-value-a-stock/" class="deco-link" rel="noopener noreferrer nofollow">GAAP diluted EPS</a> of $1.01 and an adjusted diluted EPS of $1.08. The quarter also saw the opening of two new stores, and the company returned $132 million to shareholders through share repurchases and dividends.</p>
<p>The dip in net sales and comparable sales indicates a challenging retail environment for Academy Sports and Outdoors. Various market conditions, including consumer spending behavior and economic factors, could have contributed to these declines.</p>
<h3 id="academy-sports-and-outdoors-inc-falls-short-of-eps-and-revenue-expectations-in-q1">Academy Sports and Outdoors Inc Falls Short of EPS and Revenue Expectations in Q1</h3>
<p>When comparing the current quarter’s performance against expectations, Academy Sports and Outdoors fell short. Analysts had projected an EPS of $1.23 and revenue of $1.38 billion for the quarter. <br><br>The actual EPS of $1.01, or $1.08 on an adjusted basis, is below the anticipated figure. Similarly, the company’s net sales did not meet the expected revenue target, reflecting a shortfall in achieving market forecasts.</p>
<p>This gap between actual performance and expectations highlights potential areas of concern for investors. The lower-than-expected EPS and revenue figures may prompt questions regarding the company’s sales strategies and market positioning.</p>
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<h3 id="academy-sports-cautious-on-guidance">Academy Sports Cautious on Guidance</h3>
<p>Looking ahead, Academy Sports and Outdoors provided guidance that aims to address these challenges and outline a path for future growth. <br><br>The company emphasized its focus on enhancing customer experience and expanding its product offerings. Additionally, strategic initiatives such as store expansions and digital transformation are expected to play a crucial role in driving future performance.</p>
<p>The company’s commitment to returning value to shareholders through share repurchases and dividends remains a key aspect of its financial strategy.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/academy-sports-and-outdoors-aso-falls-short-of-eps-revenue-forecasts-in-q1/">Academy Sports and Outdoors (ASO) Falls Short of EPS, Revenue Forecasts in Q1</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Academy Sports and Outdoors (ASO) Falls Short of EPS, Revenue Forecasts in Q1

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