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ASO to Expand Footprint With Nine New Stores in Fall 2024
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Academy Sports and Outdoors, Inc. (ASO - Free Report) is set to expand its retail presence by opening nine new stores in fall 2024. This expansion is part of the company's broader strategy to enhance its market reach and strengthen its position in the sporting goods and outdoor recreation industry.
The new stores will be located in Beckley, WV; Kingsport, TN; Bloomington, IN; Selma, NC; Ft. Myers, FL; Birmingham, AL; Springfield, OH; Bradenton, FL; and Bulverde, TX. These additions should extend Academy Sports' footprint across eight states, supporting its growth objectives.
The company aims to strengthen its position as a leading destination for active families by offering a well-curated selection of sports apparel, footwear, equipment, and outdoor gear at competitive prices.
ASO’s shares lost 1.3% during the trading session on Sept. 3, 2024, but rose 1.2% in the after-hours trading.
Strategic Expansion to Boost ASO's Market Presence
Academy Sports focuses on investing in various growth initiatives that comprise new store expansion, omnichannel advancements, digital marketing projects and existing store improvements. Also, product portfolio expansion strategies bode well.
Store expansion is the company’s prime growth strategy. Year to date, the company has opened three new stores in Knightdale, NC; Greenwood, IN; and Zanesville, OH. This expansion has increased its presence from 18 to 19 states and raised the store count to 285.
ASO intends to open the remaining 12 to 14 stores in the second half of the year. The recent opening is part of Academy Sports’ aggressive growth plan, involving 15-17 and 160-180 store openings in fiscal 2024 and over the next five years, respectively.
Academy Sports’ expansion efforts underscore its ambitious growth plans and potential to increase market share in the sporting goods and outdoor recreation retail sector. Investors expect these strategic moves to drive revenue growth and enhance ASO’s shareholder value over the coming years.
Price Performance
Image Source: Zacks Investment Research
Academy Sports’ shares have lost 17% year to date compared with the Zacks Leisure and Recreation Products industry's 0.7% decline. The company’s active investment in initiatives to boost traffic and sales, including website and mobile app enhancements, is likely to aid its performance in future. Also, the emphasis on product innovation and expansion efforts bodes well.
ASO’s Zacks Rank & Key Picks
Academy Sports currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Consumer Discretionary sector have been discussed below.
RCL has a trailing four-quarter earnings surprise of 18.5%, on average. The stock has rallied 61.3% in the past year. The Zacks Consensus Estimate for RCL’s 2024 sales and earnings per share (EPS) calls for growth of 18.1% and 69.9%, respectively, from the year-ago levels.
DoubleDown Interactive Co., Ltd. (DDI - Free Report) currently flaunts a Zacks Rank of 1. DDI has a trailing four-quarter earnings surprise of 22.1%, on average. The stock has surged 41.4% in the past year.
The Zacks Consensus Estimate for DDI’s 2024 sales and EPS indicates an increase of 12.6% and 15.8%, respectively, from the year-ago levels.
Monarch Casino & Resort, Inc. (MCRI - Free Report) currently flaunts a Zacks Rank of 2 (Buy). MCRI has a trailing four-quarter negative earnings surprise of 3.5%, on average. The stock has increased 16.6% in the past year.
The Zacks Consensus Estimate for MCRI’s 2024 sales and EPS indicates an increase of 2.3% and 10%, respectively, from the year-ago levels.
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ASO to Expand Footprint With Nine New Stores in Fall 2024
Academy Sports and Outdoors, Inc. (ASO - Free Report) is set to expand its retail presence by opening nine new stores in fall 2024. This expansion is part of the company's broader strategy to enhance its market reach and strengthen its position in the sporting goods and outdoor recreation industry.
The new stores will be located in Beckley, WV; Kingsport, TN; Bloomington, IN; Selma, NC; Ft. Myers, FL; Birmingham, AL; Springfield, OH; Bradenton, FL; and Bulverde, TX. These additions should extend Academy Sports' footprint across eight states, supporting its growth objectives.
The company aims to strengthen its position as a leading destination for active families by offering a well-curated selection of sports apparel, footwear, equipment, and outdoor gear at competitive prices.
ASO’s shares lost 1.3% during the trading session on Sept. 3, 2024, but rose 1.2% in the after-hours trading.
Strategic Expansion to Boost ASO's Market Presence
Academy Sports focuses on investing in various growth initiatives that comprise new store expansion, omnichannel advancements, digital marketing projects and existing store improvements. Also, product portfolio expansion strategies bode well.
Store expansion is the company’s prime growth strategy. Year to date, the company has opened three new stores in Knightdale, NC; Greenwood, IN; and Zanesville, OH. This expansion has increased its presence from 18 to 19 states and raised the store count to 285.
ASO intends to open the remaining 12 to 14 stores in the second half of the year. The recent opening is part of Academy Sports’ aggressive growth plan, involving 15-17 and 160-180 store openings in fiscal 2024 and over the next five years, respectively.
Academy Sports’ expansion efforts underscore its ambitious growth plans and potential to increase market share in the sporting goods and outdoor recreation retail sector. Investors expect these strategic moves to drive revenue growth and enhance ASO’s shareholder value over the coming years.
Price Performance
Image Source: Zacks Investment Research
Academy Sports’ shares have lost 17% year to date compared with the Zacks Leisure and Recreation Products industry's 0.7% decline. The company’s active investment in initiatives to boost traffic and sales, including website and mobile app enhancements, is likely to aid its performance in future. Also, the emphasis on product innovation and expansion efforts bodes well.
ASO’s Zacks Rank & Key Picks
Academy Sports currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Consumer Discretionary sector have been discussed below.
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 18.5%, on average. The stock has rallied 61.3% in the past year. The Zacks Consensus Estimate for RCL’s 2024 sales and earnings per share (EPS) calls for growth of 18.1% and 69.9%, respectively, from the year-ago levels.
DoubleDown Interactive Co., Ltd. (DDI - Free Report) currently flaunts a Zacks Rank of 1. DDI has a trailing four-quarter earnings surprise of 22.1%, on average. The stock has surged 41.4% in the past year.
The Zacks Consensus Estimate for DDI’s 2024 sales and EPS indicates an increase of 12.6% and 15.8%, respectively, from the year-ago levels.
Monarch Casino & Resort, Inc. (MCRI - Free Report) currently flaunts a Zacks Rank of 2 (Buy). MCRI has a trailing four-quarter negative earnings surprise of 3.5%, on average. The stock has increased 16.6% in the past year.
The Zacks Consensus Estimate for MCRI’s 2024 sales and EPS indicates an increase of 2.3% and 10%, respectively, from the year-ago levels.