Academy Sports + Outdoors Reports Third Quarter 2024 Results
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Academy Sports + Outdoors reported a 3.9% decline in net sales and a 4.9% drop in comparable sales for Q3 2024. Despite this, the company saw a 29% increase in year-to-date GAAP operating cash flow and a 67% rise in adjusted free cash flow. Academy announced a new $700 million share repurchase program and plans to open 20 to 25 new stores in fiscal 2025.
December 10, 2024 | 1:15 pm
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Academy Sports + Outdoors reported a decline in Q3 2024 net sales and comparable sales, but saw significant increases in cash flow. The company announced a $700 million share repurchase program and plans to open 20-25 new stores in fiscal 2025.
Despite a decline in sales, the significant increase in cash flow and the announcement of a large share repurchase program are positive indicators for investors. The planned store openings suggest growth potential, likely leading to a positive short-term impact on ASO's stock price.
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