Academy Sports and Outdoors, Inc. Q3 2025 Earnings Recap

Academy Sports and Outdoors reported a 3% year-over-year increase in sales for Q3 FY2025, despite facing a challenging retail environment and a negative 0.9% comp store sales due to varying consumer spending patterns.

Key Takeaways

• Sales reached $1.38 billion, with improved average unit retails contributing to a gross margin increase of 170 basis points to 35.7%.
• New store openings are positively impacting results, with a high single-digit comp growth among new locations added from 2022 to 2024.
• Omnichannel enhancements continued to drive engagement, resulting in a 22% growth in online sales for the quarter.
• Key categories such as Sports and Rec (+6%) and Apparel (+3%) showed strong performance, aided by popular national brands and private label growth.
• Academy is effectively capturing market share, particularly among higher-income consumers, with foot traffic from the top income quintiles increasing in the high single digits.