Academy Sports + Outdoors, Inc. reported preliminary results for its first-quarter showing comparable sales jumped 38.9 percent during the thirteen-week period ended May 1.
Academy said in a Securities & Exchange filing, “This comparable sales increase was driven primarily by double-digit sales growth in all merchandise categories and markets, an increase in average unit retails, an increase in total transactions, and the positive impact of government-issued stimulus checks. Other business trends during the quarter include our sales mix shifting to a more normalized level compared to the first quarter of 2020, continuing to operate in a less promotional environment, and fewer clearance sales resulting in continued strong margin performance. ”
As of May 1, Academy operated 259 retail locations in 16 states. The results are unaudited.
The update was provided in a prospectus related to the second offering of 14 million shares by Kohlberg Kravis Roberts & Co. L.P.
Photo courtesy Academy Sports + Outdoors