Academy Sports falls on downbeat annual sales forecast

Academy Sports and Outdoors

21/03/2024 12:26

** Shares of sporting goods retailer Academy Sports and
Outdoors  ASO.O  down 13.1% at $61.92 premarket
    ** Co forecasts fiscal 2024 net sales below market
expectations as demand slows for sporting equipment and apparel
    ** Co expects fiscal 2024 net sales between $6.07 billion
and $6.35 billion vs analysts avg estimate of $6.38 billion, as
per LSEG
    ** Expects 2024 diluted EPS in $5.90-$6.90 range; for fiscal
2023, it reported EPS of $6.70 
    ** In 2023, stock rose ~25%

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))