ASO - Why Academy Sports Stock Is Higher Today
Shares of Academy Sports and Outdoors (NASDAQ: ASO) traded up more than 10% on Tuesday after the sporting goods retailer reported strong results and sounded an optimistic tone for 2021.
Before markets opened on Tuesday, Academy said it earned $1.09 per share in its fiscal fourth quarter, easily beating the 52-cent consensus estimate. Revenue came in at $1.6 billion, slightly better than the $1.58 billion Wall Street had expected.
The company said it is seeing strong demand across all its markets and merchandise divisions, with comparable-store sales up 16.1% year over year. For the year, Academy reported net income of $308 million on revenue of $5.7 billion, compared to net income of $120 million on revenue of $4.8 billion in fiscal 2019.
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Why Academy Sports Stock Is Higher Today