Academy Sports Struggles With Lower Sales In Q2; Cuts FY24 Outlook Amid Distribution Challenges
Portfolio Pulse from Nabaparna Bhattacharya
Academy Sports and Outdoors, Inc. (NASDAQ:ASO) reported Q2 earnings in line with expectations but missed sales estimates, leading to a downward revision of its FY24 outlook. The company faces challenges from a tough economy, distribution issues, and storm impacts. Despite these, it is advancing strategic goals and improving inventory management.
September 10, 2024 | 2:17 pm
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Academy Sports reported Q2 earnings in line with expectations but missed sales estimates, leading to a cut in FY24 outlook. The company faces economic and distribution challenges, impacting its stock price negatively.
The company's Q2 sales missed estimates and it revised its FY24 outlook downward, indicating potential struggles ahead. This, combined with distribution challenges and economic headwinds, is likely to negatively impact the stock price in the short term.
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