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Article Date: September 2020
Word Count: 434

Academy Sports Files for Public Offering

Academy Sports and Outdoors has filed an S-1 with the SEC for a proposed initial public offering of its stock, reporting net income of $120,043,000 for the fiscal year ended Feb. 1, 2020, a 460% improvement from $21,442,000 prior, on revenues that inched up 1% to $4,829,897,000 from $4,783,893,000. It benefitted from a $42.3 million gain on early retirement of debt when it bought back its own distressed bonds, a move that drew the ire of ratings agencies last year. Other operating metrics also improved under turnaround CEO Ken Hicks, with gross margin expanding 100 basis points to 29.6% and ... Log in to view full article.


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