Strong Inventory Levels and Fewer Promotions Fueling Academy Sports’ Winning Streak

Following its record third quarter results in December, Academy Sports and Outdoors is keeping the momentum going with another record quarter and its most profitable year in the company’s history. As the pandemic continues to push people outside and pursue healthier lifestyles, Academy Sports said on Tuesday in its earnings report that its success in Q4 was fueled by a solid holiday performance and strong relationships with key vendors. For the fourth quarter, the Katy, Texas-based retailer reported a net sales increase of 13.2% over the same period last year to a quarterly record of $1.8 billion, with net income increasing 54.9% to $141.8 million. For fiscal 2021, Academy saw net sales increase 19.1% over last year to a record $6.77 billion, with net income increasing 117.4% to $671.4 million for the full year. According to president and CEO Ken Hicks, these results were possible due to the company’s dedicated team that implemented a strong plan ahead of the holiday season. On Academy’s earnings call on Tuesday, Hicks told investors that sales accelerated in early November, which allowed the company to pull back on both the number of promotions as well as the depth of the discounts offered during holiday. By taking

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