Academy Sports & Outdoors Inc. reported overall sales were down in 2022 while ecommerce sales grew.
The retailer said total sales were down 5.6% to $6.4 billion for the year ended Jan. 28. Over the same period, ecommerce sales were up 9.1% to make up 10.7% of total sales, an increase of $56.8 million. The same held true for the fourth quarter, with total sales down 3.4% to $1.75 billion while ecommerce sales grew 1.4% year-over-year.
Academy Sports & Outdoors ranks No. 139 in Digital Commerce 360’s Top 1000 ecommerce retailers in North America.
Though online sales are only about 10% of the business as of 2022, they’ve shown large increases since 2019. Digital sales were up 175% in 2022 over 2019. This puts the company ahead of its goal of 10% digital sales by 2023, it said.
Academy Sports & Outdoors’ collection of more than 250 stores is also an advantage for fulfilling online orders, CEO Ken Hicks said in a call with investors. About half of online sales in 2022 were buy-online-pickup-in-store (BOPIS), and 75% of online orders were fulfilled by stores, Hicks said. The company plans to open 13 to 15 new stores in 2023, with the expectation that they will make omnichannel sales a larger part of the business.
Academy Sports & Outdoors earnings summary
For the quarter ended Jan. 28, Academy Sports & Outdoors reported:
- Net sales decreased 3.4% from $1.8 billion to $1.75 billion.
- Ecommerce sales grew 1.4% from 2021.
- Average ticket size grew 1.3% over the same period in 2021.
- Net income increased 11.2% from $141.8 million in 2021 to $157.7 million in 2022.
For the year ended Jan. 28, Academy Sports & Outdoors reported:
- Net sales decreased 5.6% from $6.77 billion in 2021 to $6.4 billion in 2022.
- Ecommerce sales grew 9.1% to make up 10.7% of total sales.
- Average ticket size grew 2.0% while transactions were down 8.2% over 2021.
- Net income decreased 6.5% from $671.4 million in 2021 to $628.0 million in 2022.
Percentage changes may not align exactly with dollar figures due to rounding.
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