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Academy Sports Lifts Earnings Outlook Despite Pressure on Consumer Spending
US Markets

Academy Sports Lifts Earnings Outlook Despite Pressure on Consumer Spending

Academy Sports and Outdoors (ASO) raised its full-year earnings outlook on Wednesday even as the sporting goods retailer faced persistent pressure on consumer spending.The company now expects adjusted earnings between $6.50 and $6.90 per share for fiscal 2026, up from its previous guidance of $6.40 to $6.80. The consensus on FactSet is for non-GAAP EPS of $6.43.Academy Sports' shares popped 7.2% in Wednesday trade, reducing their year-to-date loss to 4.1%.The company continues to project sales of $6.23 billion to $6.36 billion and comparable sales to be flat to up 2% for the ongoing fiscal year. The Street is looking for sales of $6.31 billion and same-store sales growth of 0.8%.In a statement, Chief Executive Steve Lawrence acknowledged that consumer spending remained pressured, particularly among lower-income households.Truist Securities said Academy Sports faced a "tough" setup heading into second-quarter results due to its exposure to low and middle income consumers, according to a note emailed earlier in the week.In August, Academy Sports and Outdoors rival Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace. Last week, Lululemon Athletica (LULU) cut its fiscal 2026 guidance amid continued pressure on the brand.Academy Sports' adjusted EPS climbed 19% year over year to $2.31 for the three-month period ended Aug. 1, including a $0.06 net impact from tariff refunds. The average analyst estimate was for $2.07. Sales increased to $1.65 billion from nearly $1.6 billion, in line with the Street's view.Comparable sales edged down 0.4%, compared with an increase of 0.2% the year before. The market forecast had indicated a decrease of 0.2% in the 2026 second quarter.The company reported an $83.7 million benefit related to tariff refunds in the second quarter, of which $10.9 million were invested in pricing, according to an earnings presentation. Earlier this year, the US Supreme Court ruled that the Trump administration lacked authority under the International Emergency Economic Powers Act to impose certain tariffs, paving the way for refunds to companies that had paid the duties."We are reinvesting tariff-related benefits into value, expanding compelling new brands and categories, and accelerating initiatives across stores, omni-channel and loyalty," Lawrence said in the statement. "These actions are helping us gain market share, strengthen customer engagement and reinforce our confidence in achieving our fiscal 2026 sales and earnings objectives."Price: $47.92, Change: $+3.21, Percent Change: +7.17%

$ASO$DKS$LULU
Stocks Fall Pre-Bell, Oil Rises After Fresh US-Iran Strikes
US Markets

Stocks Fall Pre-Bell, Oil Rises After Fresh US-Iran Strikes

US equity futures were tracking in the red on Wednesday while oil prices rose as the US and Iran exchanged a fresh round of strikes.The S&P 500 declined 0.3%, the Dow Jones Industrial Average decreased 0.4%, and the Nasdaq was off 0.5% in premarket activity. The indexes finished Tuesday trading lower for the second consecutive session.The US Central Command said Tuesday its forces destroyed five Iranian crude oil carriers in response to Tehran firing ballistic missiles at a US navy warship. Iran retaliated by launching a barrage of ballistic missiles at a base used by US forces in Jordan, according to several media reports.CENTCOM previously said it struck three Iranian oil tankers over the weekend.West Texas Intermediate crude oil rose 2.3% to $95.13 a barrel, while Brent gained 2.6% to $100.48.President Donald Trump signed five proclamations on Tuesday to ban imports of certain Canadian goods, including some motor vehicles, alcohol and dairy products, effective Sept. 29. In July, the US imposed tariffs of 50% on these products from Canada.Treasury yields were trending upwards, with the two-year rate rising 2.1 basis points to 4.42% and the 10-year rate adding 0.4 basis points to 4.81%.Traders await two key inflation reports later in the week, with data on wholesale prices for August due on Thursday, while the consumer price index for the same month is scheduled to be released on Friday. The reports are expected to serve as crucial data points for the Federal Reserve, which begins its two-day policy meeting next week.Markets are pricing in a 60% probability that the central bank will raise the benchmark lending rate by 25 basis points, with the remaining odds pointing to another Fed pause, according to the CME FedWatch tool.US consumers had mixed views on the inflation trajectory in August, seeing prices hold steady in the short- and long-term but expecting a drop over the next three years, a survey by the Federal Reserve Bank of New York showed Tuesday.Wednesday's thin economic calendar has the weekly mortgage applications bulletin at 7 am ET.SailPoint (SAIL), Chewy (CHWY), Core & Main (CNM), Signet Jewelers (SIG) and Academy Sports and Outdoors (ASO) are set to release their latest financial results before the bell, among others. Cooper Companies (COO), AeroVironment (AVAV) and American Eagle Outfitters (AEO) post their earnings after the markets close.Shares of Casey's General Stores (CASY) dropped 8.9% pre-bell as the convenience store operator's fiscal first-quarter same-store sales growth decelerated year over year.Gold edged down to $4,438 per troy ounce, while bitcoin traded up 0.9% at $79,091.

Dow JonesNasdaq CompositeS&P 500$AEO$ASO$AVAV$CASY$CHWY$CNM$COO$SAIL$SIG
Research

BMO Capital Initiates Coverage on Academy Sports and Outdoors With Market Perform Rating

Academy Sports and Outdoors (ASO) has an average rating of overweight and mean price target of $60.74, according to analysts polled by FactSet.

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Wire

Academy Sports and Outdoors' Q2 Comparable Sales May Miss Consensus, UBS Says

Academy Sports and Outdoors (ASO) fiscal Q2 comparable sales may fall short of the consensus forecast for a small gain as discretionary spending softens across the sporting-goods industry, UBS Securities said Tuesday in a report.UBS estimates Q2 comparable sales will decline 1%, compared with the market expectation for a 0.1% gain, and expects tariff pressure to contribute to a gross margin drop.Against this background, investors are more likely to focus on what Q2 results imply for the trajectory into H2, with the retailer expected to keep its 2026 guidance broadly unchanged, the report said.In Q1, Academy raised its full-year outlook and expects comparable sales growth in the range of flat to up 2%, with adjusted EPS of $6.40 to $6.80.Q2 results are due Sept. 9.UBS maintained its neutral rating on Academy stock with a $55 price target.Price: $44.04, Change: $+1.23, Percent Change: +2.87%

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Wire

Academy Sports and Outdoors, Ariat International Expand Partnership

Academy Sports and Outdoors (ASO) said Tuesday it is expanding its partnership with Ariat International to open 200 Ariat in-store shops this fall.Ariat makes products like Western boots, denim and workwear, the company said.Financial details were not provided.Price: $44.11, Change: $-2.04, Percent Change: -4.42%

$ASO
Dick's Sporting Goods Lowers Full-Year Outlook Following Second-Quarter Miss
US Markets

Dick's Sporting Goods Lowers Full-Year Outlook Following Second-Quarter Miss

Dick's Sporting Goods (DKS) lowered its full-year outlook on Tuesday amid a challenging athletic footwear and apparel marketplace, while the company's fiscal second-quarter results fell short of market estimates.The athletic goods retailer now expects adjusted earnings to come in between $11 and $12 per share for fiscal 2026, down from its previous projections of $13.50 to $14.50. Sales are pegged to be in a range of $21.9 billion to $22.2 billion, compared with the prior guidance of $22.1 billion to $22.4 billion. The current consensus on FactSet is for non-GAAP EPS of $14.28 and sales of $22.33 billion.Shares of the company tanked 18% in the most recent premarket activity.Conditions across parts of the athletic footwear and apparel marketplace "became increasingly promotional" as the second quarter progressed, prompting Dick's to keep prices competitive, Executive Chairman Ed Stack said in a statement. The environment had a significant impact on Foot Locker, which Dick's acquired last year, resulting in fewer launches in the quarter, according to Stack."As a result, we are taking a more cautious view of the balance of the year," Stack said. "While these near-term dynamics have led us to revise our expectations for 2026, our confidence in the long-term opportunities ahead for both Dick's and Foot Locker remains unchanged."The retailer continues to forecast comparable sales for the Dick's business to rise by 2.5% to 4% for the ongoing fiscal year. The average analyst estimate is for same-store sales growth of 3.6%. Comparable sales for Foot Locker are now anticipated to be flat to down 2% versus the previous outlook for growth of 1.5% to 3%.Last week, Oppenheimer said in an emailed client note that it expected Dick's to deliver second-quarter results at least in line with its plan and potentially provide a positive update to its full-year outlook.For the three months through Aug. 1, the retailer's adjusted EPS fell to $3.53 from $4.38 the year before, below the Street's view for $3.76. Sales jumped 53% to $5.59 billion, but were shy of the market's estimate of $5.64 billion.Comparable sales for the Dick's business increased 4.9%, despite "growing pressure across portions of the athletic footwear and apparel marketplace," Chief Executive Lauren Hobart said. Analysts surveyed by FactSet had modeled a gain of 4%.On a pro forma basis, consolidated same-store sales were up 2.1%."Our (second-quarter) results reflect the strength of our athlete-focused strategy, broad differentiated assortment, strong brand partnerships and continued focus on profitable growth opportunities," according to Hobart. "We invested significantly around the FIFA World Cup, and our team delivered outstanding results."Rival Academy Sports and Outdoors (ASO) and luxury athletic apparel retailer Lululemon Athletica (LULU) are scheduled to release their latest financial results next month. In June, sportswear giant Nike (NKE) posted a year-over-year decline in its fiscal fourth-quarter revenue.

$ASO$DKS$LULU$NKE
Wire

Academy Sports and Outdoors to Open 11 New Stores in 6 US States in Q3

Academy Sports and Outdoors (ASO) opened new stores in St. Clairsville, Ohio, and Kerrville, Texas and plans to add nine more locations in Q3.Seven new stores have opened in 2026 with plans to add a total of 20 to 25 new locations in the fiscal year, the company said Tuesday in a statement.Openings this quarter include four additional stores in Texas and sites in Oklahoma, Georgia, Virginia and Tennessee.Price: $47.71, Change: $+1.61, Percent Change: +3.48%

$ASO
Wire

Instacart Brings Academy Sports + Outdoors Catalog to Its Digital Marketplace

Maplebear (CART), known as Instacart, said Monday it has entered into a partnership with Academy Sports + Outdoors (ASO) to bring the sports retailer's catalog into the Instacart Marketplace digital platform.The partnership will offer same-day delivery in as fast as an hour from more than 300 Academy stores across 21 states.Financial terms of the partnership were not disclosed.Price: $49.72, Change: $-0.45, Percent Change: -0.91%

$ASO$CART
Sectors

Sector Update: Consumer Stocks Higher Late Afternoon

Consumer stocks were rising late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.3%.In sector news, Redbook US same-store sales rose by 9.1% from a year earlier in the week ended June 6 after a 9.0% year-over-year increase in the previous week, with seasonal buying accounting for a smaller share of activity than in recent weeks.In corporate news, Stellantis (STLA) is recalling nearly 790,000 Jeep Wranglers and nearly 290,000 Jeep Gladiators due to issues with the Electric Hydraulic Power Steering Pump that, in some cases, can cause overheating of combustible materials leading to a fire, according to a National Highway Traffic Safety Administration recall report. Stellantis shares were down 0.3%.J.M. Smucker (SJM) reported better-than-expected fiscal Q4 results on Tuesday, while the food producer's full-year earnings outlook came in above Wall Street's estimates at the midpoint. Its shares jumped past 8%.United Natural Foods (UNFI) shares fell more than 11% after the company reported fiscal Q3 net sales below Wall Street's estimates on Tuesday. The food distributor also logged double-digit declines in conventional and retail sales.Academy Sports and Outdoors (ASO) raised its full-year outlook on Tuesday as fiscal Q1 earnings topped market estimates, but the company expects inflationary pressures to continue weighing on consumer spending for the rest of 2026. Its shares were down 2.4%.

$ASO$SJM$STLA$UNFI
Sectors

Sector Update: Consumer Stocks Mixed in Afternoon Trading

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.In sector news, Redbook US same-store sales rose by 9.1% from a year earlier in the week ended June 6 after a 9.0% year-over-year increase in the previous week, with seasonal buying accounting for a smaller share of activity than in recent weeks.In corporate news, J.M. Smucker (SJM) reported better-than-expected fiscal Q4 results on Tuesday, while the food producer's full-year earnings outlook came in above Wall Street's estimates at the midpoint. Its shares jumped past 10%.United Natural Foods (UNFI) shares fell more than 11% after the company reported fiscal Q3 net sales below Wall Street's estimates on Tuesday. The food distributor also logged double-digit declines in conventional and retail sales.Academy Sports and Outdoors (ASO) raised its full-year outlook on Tuesday as fiscal Q1 earnings topped market estimates, though the sporting goods retailer expects inflationary pressures to continue weighing on consumer spending for the rest of 2026. Its shares added 0.9%.

$ASO$SJM$UNFI
Academy Sports and Outdoors Lifts Fiscal 2026 Earnings Outlook Despite Consumer Pressure
US Markets

Academy Sports and Outdoors Lifts Fiscal 2026 Earnings Outlook Despite Consumer Pressure

Academy Sports and Outdoors (ASO) raised its full-year outlook on Tuesday as fiscal first-quarter earnings topped market estimates, though the sporting goods retailer expects inflationary pressures to continue weighing on consumer spending for the rest of 2026.The company boosted its full-year adjusted earnings guidance to $6.40 to $6.80 a share, up from the prior forecast of $6.10 to $6.60. Analysts polled by FactSet project $6.29.Academy expects full-year sales of $6.23 billion to $6.36 billion, compared with the previous low-end estimate of $6.18 billion. Comparable sales are forecast to be flat to up 2%, versus the earlier projection for a 1% decline at the low end. The FactSet consensus calls for sales of $6.31 billion and same-store sales growth of 0.9%."We are raising the low end of our full-year guidance" following the first-quarter performance, CEO Steve Lawrence said in a statement. "While we expect inflationary pressures to continue impacting consumer spending for the remainder of the year, our goal is to build on the momentum in our business."Academy's shares jumped 8.2% in Tuesday trading and are up 12% this year."Overall, we remain cautious on underlying demand trends for core middle-income consumers in a volatile macro environment," Truist Securities said in a report.In the three months ended May 2, adjusted EPS rose to $0.93 from $0.76, topping Wall Street's $0.91 estimate. Sales gained 6.7% to $1.44 billion, in line with the market consensus.Comparable sales rebounded to growth of 2.9% in the quarter from a 3.7% decline a year earlier. The market forecast was for an increase of 2.5%.In May, rival Dick's Sporting Goods (DKS) reported fiscal first-quarter results above market expectations and affirmed its full-year outlook.Price: $55.89, Change: $+4.22, Percent Change: +8.16%

$ASO
Sectors

Sector Update: Consumer Stocks Rise Pre-Bell Tuesday

Consumer stocks rose pre-bell Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) marginally up and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.7% higher.United Natural Foods (UNFI) stock was down more than 13% after the company reported a decline in fiscal Q3 net sales, also missing analysts' expectations.Carnival (CCL) deployed Konami Gaming's Synkros casino management system across the Carnival Cruise Line fleet, Konami said. Carnival shares were up more than 1% premarket.Academy Sports and Outdoors (ASO) stock was up more than 3% after the company posted higher fiscal Q1 adjusted earnings and net sales, and raised its fiscal 2026 outlook.

$ASO$CCL$UNFI$XLP$XLY
Equities Rise Pre-Bell as Chip Stocks Extend Gains
US Markets

Equities Rise Pre-Bell as Chip Stocks Extend Gains

US equity futures were tracking in the green on Tuesday amid continued momentum in artificial intelligence and semiconductor stocks.The S&P 500 rose 0.4%, the Dow Jones Industrial Average gained 0.3% and the Nasdaq added 0.8% in premarket activity. The S&P 500 and the Nasdaq finished Monday trading higher, while the Dow closed in the red for a second consecutive session.OpenAI said on Monday it has confidentially filed for a potential initial public offering in the US, after similar moves last week by AI firm Anthropic and rocket and satellite company SpaceX.OpenAI hasn't decided on the timing of the IPO yet, according to a blog post. "It may be a while because there are things we want to do that are likely easier as a private company," the tech firm added.Shares of Qualcomm (QCOM) increased 2.8% pre-bell, while Intel (INTC) inclined 2.2% after an 11% jump at the close of Monday. Micron Technology (MU) added 4.1% following a 9.9% increase in the previous session, while Nvidia (NVDA) was up 0.7%. Advanced Micro Devices (AMD) gained 2.5% before the bell after closing the previous session up 5.1%, while Broadcom (AVGO) increased 1.1%."In our view, volatility in technology stocks is likely to continue, although the (artificial intelligence) investment boom appears robust," D.A. Davidson said in a report on Monday. "We continue to expect a broadening of gains supporting sector diversification in portfolios."West Texas Intermediate crude oil declined 2.1% to $89.37 a barrel before the opening bell, while Brent moved down 1.6% to $92.73.Iran and Israel reportedly suspended strikes against each other, although Tehran vowed to resume attacks if Israel continues to target Iran-backed Hezbollah in Lebanon. In a social media post, President Donald Trump said both Israel and Iran were "looking to do an immediate ceasefire.""Overall, the situation remains fragile, and for the oil market, the status quo holds: global inventories continue to draw, with analysts increasingly convinced that inventories will reach dangerously low levels by the end of June (if not sooner)," Tudor Pickering Holt Analyst Matt Portillo said in a note.Treasury yields were mixed in premarket action, with the two-year rate retreating 1.1 basis points to 4.15% while the 10-year rate rose 0.6 basis points to 4.56%.Tuesday's economic calendar has the international trade in goods and services report for April at 8:30 am ET, followed by the existing home sales report for May at 10 am. The National Federation of Independent Business small business optimism index posted a 0.6-point decrease for May to 95.3.J.M. Smucker (SJM), SailPoint (SAIL), United Natural Foods (UNFI) and Academy Sports and Outdoors (ASO) report their latest financial results before the bell, among others. Casey's General Stores (CASY) posts earnings after the markets close.Gold slipped 0.1% to $4,359 per troy ounce, while bitcoin fell 1.1% to $62,725.

Dow JonesNasdaq CompositeS&P 500$ASO$CASY$INTC$MU$NVDA$QCOM$SAIL$SJM$UNFI
Wire

Academy Sports and Outdoors to Open 3 New Stores in Q2

Academy Sports and Outdoors (ASO) said Tuesday it plans to open three new stores in Q2 as part of its US expansion strategy.The company said the new locations will open in Altoona, Pennsylvania; North Knoxville, Tennessee; and Morristown, Tennessee.Academy said the expansion follows the addition of two new sites in Q1, 24 stores across 16 states in 2025 and 16 stores across 10 states in 2024.Shares of the company were down about 2% in early trading Tuesday.Price: $49.00, Change: $-0.98, Percent Change: -1.97%

$ASO
Wire

Academy Sports and Outdoors Plans $500 Million Notes Offering

Academy Sports and Outdoors (ASO) said Monday it intends to offer $500 million aggregate principal amount of senior secured notes due 2031 through its wholly owned subsidiary, Academy, in a private offering.The company plans to use the proceeds to redeem its outstanding senior secured notes due 2027, repay borrowings under its term loan facility and cover related fees and general corporate purposes.Academy also said it has issued a notice of conditional redemption for all of its 2027 notes, with a redemption date set for May 14. The redemption is subject to the completion of the new notes offering.Shares of the company were down 1% in Monday trading.Price: $53.25, Change: $-0.53, Percent Change: -0.99%

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Wire

Truist Securities Raises Price Target on Academy Sports and Outdoors to $54 From $52, Maintains Hold Rating

Academy Sports and Outdoors (ASO) has an average rating of overweight and mean price target of $60.17, according to analysts polled by FactSet.Price: $57.84, Change: $-0.79, Percent Change: -1.35%

$ASO

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