Advertisement
UK markets closed
  • FTSE 100

    8,146.86
    -16.81 (-0.21%)
     
  • FTSE 250

    20,120.36
    -75.59 (-0.37%)
     
  • AIM

    776.04
    -4.39 (-0.56%)
     
  • GBP/EUR

    1.1845
    -0.0034 (-0.29%)
     
  • GBP/USD

    1.2686
    -0.0075 (-0.59%)
     
  • Bitcoin GBP

    52,214.74
    +493.60 (+0.95%)
     
  • CMC Crypto 200

    1,402.78
    -15.09 (-1.06%)
     
  • S&P 500

    5,431.60
    -2.14 (-0.04%)
     
  • DOW

    38,589.16
    -57.94 (-0.15%)
     
  • CRUDE OIL

    78.49
    -0.13 (-0.17%)
     
  • GOLD FUTURES

    2,348.40
    +30.40 (+1.31%)
     
  • NIKKEI 225

    38,814.56
    +94.09 (+0.24%)
     
  • HANG SENG

    17,941.78
    -170.85 (-0.94%)
     
  • DAX

    18,002.02
    -263.66 (-1.44%)
     
  • CAC 40

    7,503.27
    -204.75 (-2.66%)
     

Academy Sports (ASO) Expands to Ohio, Boosts Growth Prospects

Academy Sports and Outdoors, Inc. ASO has opened its first store in Ohio, marking a significant milestone in its expansion strategy. The new 54,000-square-foot store in Zanesville offers an array of sports and outdoor merchandise.
 
The Zanesville store provides a one-stop destination for sports and outdoor enthusiasts, featuring top brands like Nike, Adidas and YETI, as well as Academy Sports’ exclusive private label brands. By bringing its diverse product range and competitive pricing to Ohio, ASO is positioned to capture a new customer base just in time for the summer season.

Eric Friederich, senior vice president of retail operations at Academy Sports, emphasized the company's commitment to making sports and outdoor activities accessible and affordable. This strategic expansion in Ohio not only broadens Academy Sports’ geographical footprint but also strengthens its market presence in the Midwest.

Focus on Expansion

Academy Sports focuses on investment in various growth initiatives that comprise new store expansion, omnichannel advancements, digital marketing projects and existing store improvements. Also, product portfolio expansion strategies bode well.

Store expansion is the company’s prime growth strategy. In 2023, the company opened 14 new stores. The recent opening is part of Academy Sports’ aggressive growth plan, involving 15-17 store openings in 2024  and 160-180 new stores over the next five years.

Academy Sports’ expansion efforts underscore its ambitious growth plans and potential to increase market share in the sporting goods and outdoor recreation retail sector. Investors anticipate that these strategic moves will drive revenue growth and enhance ASO’s shareholder value over the coming years.

Shares of this Zacks Rank #3 (Hold) company have increased 10.4% in the past six months compared with the industry’s 6.3% growth.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Key Picks

Here are some better-ranked stocks from the Consumer Discretionary sector.

Strategic Education, Inc. STRA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

STRA has a trailing four-quarter earnings surprise of 36.2%, on average. The stock increased 48.5% in the past year. The Zacks Consensus Estimate for STRA’s 2024 sales and earnings per share (EPS) indicates an increase of 6.4% and 33.3%, respectively, from the year-ago levels.

Netflix, Inc. NFLX presently sports a Zacks Rank of 1. NFLX has a trailing four-quarter earnings surprise of 9.3%, on average. The stock rose 82.8% in the past year.

The consensus estimate for NFLX’s 2024 sales and EPS implies a rise of 14.8% and 52.2%, respectively, from the year-ago levels.

Royal Caribbean Cruises Ltd. RCL currently sports a Zacks Rank of 1. RCL has a trailing four-quarter earnings surprise of 18.3%, on average. The stock increased 91.2% in the past year.

The Zacks Consensus Estimate for RCL’s 2024 sales and EPS implies growth of 16.6% and 61.9%, respectively, from the year-ago levels.

ADVERTISEMENT

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Netflix, Inc. (NFLX) : Free Stock Analysis Report

Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report

Strategic Education Inc. (STRA) : Free Stock Analysis Report

Academy Sports and Outdoors, Inc. (ASO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research