Academy Sports and Outdoors Inc. reported earnings on an adjusted basis rose 9.6 percent in the third quarer, slightly ahead of analyst targets. Comparable-store sales dipped 0.9 percent. The retailer narrowed its sales and gross margin guidance on improving profit metrics.

Adjusted EPS of $1.14 compared with analysts’ consensus target of $1.06. Sales of $1.38 billion was below analysts’ consensus estimate of $1.41 billion.

“We continue to see an acceleration in our underlying growth strategies, despite the uncertain economic backdrop the consumer is facing,” said Steve Lawrence, Chief Executive Officer. “The start to holiday aligned with our expectations, capped off by a record Black Friday event. The momentum we are seeing in early holiday results reinforces that our position as the value leader in our space is resonating with consumers, and is driving market share gains.”

Subsequent to the end of the third quarter, on December 4, 2025, Academy’s Board of Directors declared a quarterly cash dividend of 13 cents per share of common stock. The dividend is payable on January 15, 2026, to stockholders of record as of the close of business on December 18, 2025.

New Store Openings
Academy opened eleven new stores during the third quarter, bringing its total to 317 locations across 21 states. The company has opened a total of 24 stores in fiscal 2025. The following table outlines the new locations opened during the year:

Academy Store Footprint Update

2025 Outlook
“The third quarter performed in-line with our expectations, and led to outperformance across our profit metrics including growth in gross margin, operating profit and net income,” said Carl Ford, chief financial officer. “Based on the results from the first three quarters and the expectations for the remainder of fiscal 2025, we are narrowing the low end of our sales guidance from -3.0 percent to -2.0 percent and the high end from +1.0 percent to flat. Additionally, we have raised the low end of our gross margin guidance to 34.3 percent from 34.0 percent. We expect the tax rate for the year to be 23.5 percent.”

Academy is revising its previous guidance for fiscal 2025 as follows.

Image/Charts courtesy Academy Sports + Outdoors