Academy Sports + Outdoors finished the year strong on its top and bottom lines, and posted its 16th consecutive quarter of positive comp sales.
The Texas-based sporting goods and outdoor recreational retailer, which has 259 stores in 16 states, told analysts during the earnings call that it will open its first new store in two years this April, in Conyers, Georgia. Academy plans to open a total of eight stores and complete several store remodels in 2021. Looking further out, the company has set a goal of opening 80 to 100 stores during the next five years.
“We are excited and confident about the future,” Academy Sports Chairman, President and CEO Ken Hicks said on the call. “We have established a strong retail foundation, by delivering record results. We have market momentum, and we are starting a new growth phase with the opening of our first new store, in two years next month.”
Academy’s sales per square foot in 2021 grew 19 per cent to $370 per square foot, “which is higher than our closest competitors,” CFO Michael Mullican told analysts. He added that “100 per cent of our stores are profitable and accretive earnings, which gives us great confidence in our growth potential.”
