Academy Posts Huge Q1 Comp, Sets Secondary Offering
The retailer said that first quarter comps soared 38.9%, including double-digit sales growth in all categories and markets, boosted by customers’ wallets fortified with government stimulus money. In pre-announcing the top line gain, ASO noted than its sales mix has shifted to a more normalized level compared to the start of the pandemic last year. Margins were still strong due to fewer promotions than normal, it said. Meanwhile, ASO shareholder Kohlberg Kravis Roberts intends to sell ... Log in to view full article.