Yahoo Finance 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.
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