The year got off to a strong start for Academy, reporting net income of $177,796,000 in the first quarter against a loss of $10,020,000 last year, on 39% revenue growth to $1,580,333,000 up from $1,136,301,000. Comps were up 38.9%, but e-commerce dropped 21%, lapping the triple-digit increase in last year’s pandemic quarter. Compared to Q1 2019, total revenues increased 47% and e-commerce sales quadrupled. E-commerce penetration was 7.4% compared to 2.8% in Q1 ’19, and BOPIS accounted for about half of all online sales.

The sales gains were broad-based, led by an 80% comp in apparel and a 58% improvement in ... Log in to view full article.