How Strong Relationships With Nike and Adidas Helped Academy Sports Achieve Record Q2 Results

Academy Sports + Outdoors is on a roll. The outdoor retailer ended Q2 with a net income of $190.5 million, the highest quarterly earnings in the company’s history. Academy also achieved record second quarter sales of $1.8 billion. With these results, Academy has now posted eight consecutive quarters of positive comparable sales and operating profit growth since Q3 of 2019. Footwear and apparel were the strongest sectors, with footwear comps up 15% year over year and 27% compared to 2019 and apparel up 19% year over year and 37% compared to 2019. In discussing the results in apparel and footwear, executives called out Academy’s relationships with key national brands such as Nike, Adidas, Under Armour, Columbia and the North Face, which have been top sellers in stores. According to Academy’s chief merchandising officer and EVP Steve Lawrence, Nike, Adidas, and Under Armour outperformed the company average this quarter as three of the company’s core brands. In general, Academy has benefited from a general retail industry trend of brands nixing partnerships with different wholesalers to focus on key accounts and direct-to-consumer channels. In the last year, Nike has terminated wholesale accounts with Zappos, Dillard’s, DSW, Urban Outfitters, Shoe Show and more retailers as it forges ahead with

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