Academy Sports and Outdoors has announced financial results for Q4 and fiscal 2021.
“2021 was an extraordinary year for Academy Sports + Outdoors. The team delivered the highest sales and profits in the Company’s history while navigating the many challenges faced by the Company and the retail industry. We are proud of what our company has accomplished over the past three years, but even more excited about our future growth prospects. Academy is well positioned for substantial long-term growth in its existing stores with our broad assortment of great products from the best national and quality private brands, excellent customer service, expanding omnichannel capabilities, and multiple new store openings in our current and new markets,” said Ken Hicks, Chairman, President and Chief Executive Officer.
The company’s fourth quart delivered a net sales increase of 13.2% to a quarterly record of $1.8 billion. Compared to 2019, the retailer had a net sales increase of 32%. Comparable sales were 13.1%, on top of 16.1% in the fourth quarter of 2020, making it the 10th consecutive quarter of positive comparable sales. Strong consumer demand for sports and outdoors products drove sales growth and led to an increase in total transactions and average ticket.
For fiscal 2021, net sales increased 19.1% to a record $6.77 billion. Compared to 2019, net sales increased 40.2%. Comparable sales increased 18.9% on top of 16.1% in fiscal 2020. All four merchandise divisions and geographic regions posted double digit sales growth for the year.
“For the second consecutive year, Academy delivered record financial results, driven by a dedicated, adaptable team, lasting operational improvements and strong consumer demand,” added Hicks.
Source: Academy Sports – Press Release
Photo Credit: Academy Sports & Outdoors
