ASO - Academy Sports & Outdoors jumps after solid beat: Q4 Earnings

Academy Sports & Outdoors (NASDAQ:ASO) pops up 8% after the retailer reported comparable sales growth of 13.1% with beat on both lines in its fourth quarter earnings results. Revenue of $1.81B (+13.1% Y/Y) beats consensus by $40M.  The company linked this increase in revenue to strong consumer demand for sports and outdoors products that led to an increase in total transactions and average ticket. For the full year, revenue increased 19.1% to a record $6.77B. E-commerce sales for the quarter rose 22.7% vs. 4Q20 and +97.2% vs. 4Q19. Gross profit increased 17% Y/Y to a record $584.1M. The gross margin rate improved by 110 bps to 32.3% GAAP EPS of $1.57; Non-GAAP EPS of $1.61 beats by $0.24. The company ended the quarter with ash and cash equivalents of $486M. Merchandise inventories were $1.2B, an increase of 18.4% compared to the end of fiscal 2020. On buyback front, Academy Sports & Outdoors repurchased 10.6M shares worth $411.4M

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Academy Sports & Outdoors jumps after solid beat: Q4 Earnings