Yahoo Finance Academy Sports (ASO) Expands in Indiana With New Store Opening
Academy Sports and Outdoors, Inc. ASO unveiled its first store in the Indianapolis area. The new Westfield/Carmel store marks the company’s fifth location in Indiana, signifying its continuous focus on expansion.
Situated in Westfield at 1960 East Greyhound Pass, the company's new approximately 75,000-square-foot store serves as a fun destination for outdoor enthusiasts and sports lovers. The expansion aligns with the company's aim to provide diverse and accessible options, allowing it to offer an extensive range of merchandise, including athletic and casual shoes, equipment, and clothing from renowned national brands. The store's added services, like grill assembly and licensing, enhance customer convenience, while exclusive brand offerings signify ASO's commitment to value and quality.
Going forward, the company remains optimistic in this regard and anticipates the store openings to drive sales in the upcoming periods. ASO is also planning to open its sixth store in Avon, IN, by this fall.
Focus on Expansion
The company's primary growth strategy focuses on expansion through the establishment of new stores. The goal is to leverage the recent momentum by consistently enhancing all aspects of the business and executing three key growth strategies. These strategies involve developing a robust omnichannel presence and driving growth from existing stores through improved service, productivity, enhanced merchandising and captivating customer engagement.
So far this year, ASO has opened three stores, which remains in line with the company's ongoing growth plan to establish 13–15 new locations in 2023. ASO remains steadfast in its commitment to open 120-140 new stores by 2027-end.
Price Performance
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Shares of ASO have gained 14.9% in the past year against the industry’s 4.2% fall. The company is likely to benefit from its expansion efforts, product innovation and operational efficiency. Earnings estimates for 2023 have increased to $7.09 per share from $7.05 per share in the past 30 days, depicting analysts’ optimism regarding the growth potential.
Zacks Rank and Key Picks
Academy Sports carries a Zacks Rank #4 (sell).
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