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Academy Sports and Outdoors Inc. (ASO+1.75%) has submitted its annual report on Form 10-K filing for the fiscal year ended February 1, 2025.
The filing details a decrease in net sales to $5.93 billion from $6.16 billion in the previous year. This decline is attributed to a decrease in comparable sales and the impact of an additional week in the prior fiscal year.
Gross margin for the fiscal year decreased to 33.9% from 34.3% in the previous year, primarily due to increased supply chain costs and a higher sales mix of hard goods.
Selling, general, and administrative expenses increased to $1.47 billion from $1.43 billion, reflecting investments in new stores and technology.
Net income for the fiscal year was $418.4 million, down from $519.2 million in the previous year. The decrease in net income is attributed to lower sales and gross margin.
Academy Sports and Outdoors Inc. opened 16 new stores during the fiscal year, bringing the total number of stores to 298 as of February 1, 2025.
The company reported cash and cash equivalents of $288.9 million as of February 1, 2025, with no borrowings outstanding under its $1 billion ABL Facility.
Academy Sports and Outdoors Inc. declared and paid quarterly dividends totaling $31.5 million during the fiscal year.
Capital expenditures for the fiscal year amounted to $199.6 million, primarily for new stores and corporate programs.
The company anticipates capital expenditures of between $220 million and $250 million for the next fiscal year, focusing on new stores and technology initiatives.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Academy Sports and Outdoors Inc. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.