Academy Sports + Outdoors has been steady with their growth plans in multiple phases. They continue to add footprint to their retail network, and on the corporate side of the business, they’ve made an important hire.
Store Growth
Academy has been on a journey for multiple years now to expand where they operate and create density. It helps them with additional revenue at brick and mortar but it’s also important for digital growth because of additional fulfillment points and brand recognition.
In Academy’s last earnings call they laid out their plan for store growth this year. Their latest phase of openings have stuck to what they detailed.
NEW STORE EXPANSION REMAINS OUR #1 GROWTH LEVER, AND WE’RE STARTING TO BUILD CRITICAL MASS BEHIND THIS STRATEGY. WE BEGAN THE YEAR WITH 39 STORES FROM OUR 2022 THROUGH 2024 VINTAGES IN OUR COMP BASE. THIS TRANCHE OF STORES CONTINUES TO PERFORM WELL WITH SALES COMPING IN THE HIGH SINGLE DIGITS. WE ANTICIPATE THIS TAILWIND SHOULD ACCELERATE AS THE 24 STORES FROM OUR 2025 VINTAGE START TO FLOW INTO THE COMP BASE AS WE PROGRESS THROUGH THE YEAR.
DURING THE FIRST QUARTER, WE OPENED UP 2 NEW STORES IN CANTON, OHIO, AND MUSKOGEE, OKLAHOMA, BOTH OF WHICH SUPPORT OUR STRATEGY TO GROW IN MID-SIZED MARKETS. THESE ARE UNDERSERVED COMMUNITIES AND TEND TO OVER-INDEX WITH OUR CORE CUSTOMER, THE ALWAYS GAME FAMILY. DURING THE SECOND QUARTER, WE WILL OPEN UP 3 MORE STORES WITH LOCATIONS IN ALTOONA, PENNSYLVANIA, NORTH KNOXVILLE, TENNESSEE, AND MORRISTOWN, TENNESSEE. THE REMAINING 15 TO 20 STORES ARE EXPECTED TO OPEN IN THE BACK HALF OF THE YEAR WITH A HEAVY FOCUS IN LEGACY AND EXISTING MARKETS. AS WE HEAD INTO 2027 AND BEYOND, WE EXPECT TO HAVE A MORE BALANCED MIX OF OPENINGS BETWEEN THE FIRST HALF AND THE SECOND HALF OF EACH YEAR.
Steve Lawrence, CEO of Academy Sports
Academy announced it has opened two new stores and has nine new store locations that will be opening in Q3. Below is a list of the new locations.
- St. Clairsville, Ohio
- Kerrville, Texas
- Celina, Texas
- McAlester, Oklahoma
- Lacy Lakeview, Texas
- Fayetteville, Georgia
- Roanoke, Virginia
- Statesboro, Georgia
- Granbury, Texas
- Millington, Tennessee
- Fairview, Texas
Our strategic growth reflects both the strength of the business and our commitment to the families and communities we serve. With every new store, we’re proud to partner with a local nonprofit organization to support kids and families by bringing more opportunities to play, connect, and create meaningful moments where fun can’t lose.
Eric Friederich, Senior Vice President of Retail Operations at Academy Sports
The new store openings stuck to the strategy of increasing density in existing markets. Many of the openings are in their core markets, with the Ohio location notably adding density to a market they recently added.
Chief People Officer
In addition to adding new locations, Academy is building their operations internally with a key executive hire. They have appointed Matt Pasch to the role of Executive Vice President and Chief People Officer.
In the role, he’ll lead talent strategy, human resources, and communications functions supporting the company’s corporate, distribution centers, and retail initiatives. Matt Pasch joins Academy from Burlington, where he was Executive Vice President, Chief Human Resources Officer.
It’s an important role for any company, but especially one like Academy that has big growth plans. Expansion only works if you can build a team to support it.
He replaces Bill Ennis, who is retiring from Academy after over 18 years with the company. Matt Pasch will report directly to Steve Lawrence, the CEO.