Academy Sports and Outdoors (NASDAQ: ASO) is a sporting goods and outdoor recreation retailer that sells national brand and private label products across apparel, footwear, outdoors, and sports and recreation categories. Revenue comes from transactional retail sales through physical stores and an e-commerce platform at academy.com. As of January 31, 2026, the company operated 322 stores averaging approximately 70,000 gross square feet across 21 contiguous states, concentrated primarily in the southern United States, supported by approximately 23,000 team members and three distribution centers. Approximately 78% of FY2025 merchandise sales came from national brands, with private label comprising the remainder at generally lower price points and higher gross margins. Softgoods (apparel and footwear) carry higher margins than hardgoods (outdoors, sports and recreation). Net income was $376.8 million for the fiscal year ended January 31, 2026, down from $418.4 million in the prior year. The company has paid a quarterly cash dividend consistently since the fourth quarter of FY2021.

Revenue model

Transactional retail sales through 322 physical stores and an e-commerce platform (academy.com and mobile app). Revenue is driven by customer traffic, sales conversion, and average ticket. Private label products carry higher gross margins than national brands. Omnichannel capabilities include buy-online-pickup-in-store (BOPIS) and shipping fulfillment.

Products and services

Sporting goods and outdoor recreation products across four merchandise divisions: apparel (softgoods), footwear (softgoods), outdoors (hardgoods), and sports and recreation (hardgoods). Assortment includes national brand products and proprietary private label brands priced below comparable national brands. Products span beginner to expert price points targeting active families.

Customers and end markets

Core customers are active families and casual participants seeking value-based sporting goods and outdoor recreation products. The company targets customers across a range of budgets and skill levels, from beginners to experts. Primary geographic customer base is in the southern United States.

Value-chain role

Specialty retailer. Buys national brand merchandise from vendors and develops proprietary private label products, then sells direct to consumers through stores and e-commerce. Supported by three distribution centers.

Geographic exposure

21 contiguous states, concentrated primarily in the southern United States, as of January 31, 2026. No disclosed international operations.

Source: SEC 10-K, filed 2026-03-17

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