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Sunday, April 21, 2024
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Academy Sports Posts Record Earnings

  • Academy Sports posted record revenue in Q2 2021.
  • The sporting and outdoor goods retailer generated $1.79 billion in revenue.
Academy Sports/Design: Alex Brooks

Texas-based sporting goods retailer Academy Sports generated record revenue of $1.79 billion in Q2 2021, an 11.5% increase year-over-year. 

The company benefited from increased demand for outdoor and at-home fitness products during the global pandemic. 

Academy Sports operates 259 brick-and-mortar locations in 16 states across the U.S. but saw e-commerce sales increase 207.2% in Q2 compared to the same period a year prior. 

Private equity firm KKR & Co. acquired Academy Sports in 2011 for an undisclosed amount. The retailer raised $203 million during its IPO in October, valuing the company at $1.1 billion. 

Since then, Academy Sports has been expanding its footprint in the $126 billion global sporting goods market. 

  • The company inked a multiyear partnership with the Big 12 Conference in 2020. 
  • It secured a partnership with the Southwestern Athletic Conference the same year.
  • The company agreed to sponsorship deals in July with Texas athletics and Austin FC.
  • Earlier this week, it signed a multiyear deal with the National PAL. 

As a result of the record-setting second quarter, the company raised its full-year revenue guidance to between $6.46 billion and $6.62 billion

Academy Sports plans to open more than 800 stores across the U.S. next.

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