Thursday December 7, 2023

Why Academy Sports Thrived When Others Didn’t

  • Academy Sports has 259 stores and took in $308.8 million in net profit last year -- a 157.2% increase from 2019.
  • The retailer envisions having up to 800 stores across the U.S. one day.
Academy Sports & Outdoors/Design: Alex Brooks
Linkedin
Copy Link
Link Copied
Link Copied

It’s no secret that many retailers struggled over the past year, but Academy Sports made the most of challenging times.

The Texas-based sporting and outdoor goods retailer has 259 stores and took in $308.8 million in net profit last year — a 157.2% increase from 2019.

While sales were down for athletic apparel like cleats and team-branded merchandise, Academy Sports saw huge interest in items geared toward outdoor activities like fishing and camping equipment, and it also benefited from the home fitness boom. 

  • E-commerce sales were up 60.7% in the fourth quarter, with customers embracing curbside and in-store pickup options.
  • In November, Academy released $400 million in senior secured notes, which it used to help pay down other debts at less favorable terms.
  • The company, which went public in October via IPO, has seen its stock price more than double since then.

Academy Sports’ success stands in contrast to other retailers, particularly Modells, which said in March it would close all of its stores after filing for bankruptcy. Gap, Macy’s, JCPenney, and several other clothing and department retailers have closed hundreds of stores recently.

Those with more of a focus on fitness and outdoor gear have fared better. Dick’s Sporting Goods had a record year; Lululemon doubled its e-commerce sales and has plans for a bigger brick-and-mortar footprint.

Academy Sports is thinking along similar lines, envisioning room for over 800 stores across the U.S.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Upbeat Dick’s Earnings Counter Slowdown In Sports Apparel Market

Surprise earnings beat contrasts from other recent results in the category.
Nick Saban highest paid college football head coach.

Who Is Highest-Paid Coach in College Football?

Saban remains atop highest-paid head coaches getting over $11 million annually.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Sponsored

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.
podcast thumbnail mobile
Front Office Sports Today

Why the NBA May Have Made Billions With Midseason Tournament

0:00
0:00

Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
FanDuel
Multiple Locations
Adidas
Multiple Locations
Creative Artists Agency
Multiple Locations

Peloton To Bring Live Sports To Its Fitness Devices

NBA League Pass will be available to watch on Peloton devices.
Nike's group fitness studios follow its Netflix workout streaming deal.
August 3, 2023

Nike Leans Into In-Person Fitness As Lululemon Cuts Back

With fitness classes already on Netflix, Nike now plans in-person studios.
August 10, 2023

Alternative Golf Venues Thriving ‘Off-Course’ By Attracting Younger Players

In 2022, 15.5 million people participated in off-course golf activities. 
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
UBS estimates that pickleball injuries have cost Americans $377 million this year.
June 27, 2023

Pickleball Injuries Could Cost U.S. Nearly $400 Million Per Year

UBS estimates that pickleball injuries have cost Americans $377 million this year.
Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
June 1, 2023

Harry Kane Invests in OxeFit, Fitness Startup Reaches $45 Million in Funding

Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
The huupe "smart" basketball hoop in a gym.
May 23, 2023

Can Basketball Hoops Become Part of the Smart Gym Ecosystem?

Huupe is selling its product to professional and college basketball teams.
Peloton is recalling 2.2. million bikes.
May 11, 2023

Peloton Recalls 2.2 Million Bikes Following Injuries

Peloton is recalling 2.2. million bikes.