Academy Sports + Outdoors posts record annual results on the back of best sales quarter
U.S. sporting and outdoor retailer Academy Sports + Outdoors on Tuesday announced record results for the full year 2021, on the back of its best-ever fourth quarter that saw sales hit $1.8 billion.
The Texas-based company said fourth quarter sales increased 13.2% on the same quarter in 2020, while comparable sales lifted 13.1% on last year, on the back of strong consumer demand for sports and outdoors product, which led to an increase in total transactions and average ticket.
Net income increased 54.9% to $141.8 million during the quarter ending January 29.
For the full year, Academy Sports sales increased 19.1% to a record $6.77 billion, while comparable store sales increased 18.9%. All four merchandise divisions and geographic regions posted double-digit sales growth for the year, the company said in its earnings release.
Full year net income increased 117.4% to $671.4 million, compared to $308.8 million.
"2021 was an extraordinary year for Academy Sports + Outdoors. The team delivered the highest sales and profits in the company's history while navigating the many challenges faced by the Company and the retail industry," said Ken Hicks, chairman, president and chief executive officer.
"We are proud of what our company has accomplished over the past three years, but even more excited about our future growth prospects. Academy is well positioned for substantial long-term growth in its existing stores with our broad assortment of great products from the best national and quality private brands, excellent customer service, expanding omnichannel capabilities, and multiple new store openings in our current and new markets."
Founded in 1938, Academy Sports is full-line sporting goods and outdoor recreation retailer. It currently boasts 259 stores across 16 states in the U.S.
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