ASO - Why Is Academy Sports And Outdoors Stock Falling Today? | Benzinga
Academy Sports And Outdoors Inc (NASDAQ:ASO) shares are trading lower after the company reported worse-than-expected first-quarter FY24 earnings.
The sports goods retailer reported a first-quarter sales decline of 1.4% year-on-year to $1.36 billion, missing the analyst consensus estimate of $1.38 billion.
Comparable sales declined 5.7%. Adjusted EPS of $1.08 missed the analyst consensus estimate of $1.24.
Gross margin contracted 40 basis points Y/Y to 33.4%, and gross profit declined 2.4% to $455.8 million.
Operating margin was 7.5%, and operating income for the ...