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Article Date: March 2021
Word Count: 686

Academy Sports Sees Flat 2021 after Big Q4

Net income grew five-fold in the final quarter to $91,522,000 from $17,738,000 on 17% higher revenues of $1,597,436,000 up from $1,370,492,000 that included a +16.1% comp and double-digit growth in all merchandise divisions. E-commerce sales jumped 61% helped by expanding use of BOPIS and other store-based fulfillment methods. Gross margin expanded 420 basis points to 31.2% on higher merchandise margins and fewer promotions and clearance sales, which more than offset an unfavorable mix shift. Merchandise that would typically be clearanced in Jan., sold at full price in Dec. instead, ASO noted. SG&A was 9% higher, but leveraged 150 b.p. on ... Log in to view full article.


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