Academy Sports and Outdoors have a 'disappointing' first quarter and forecasts a better...
Academy Sports and Outdoors said Tuesday that it was disappointed in its fiscal first-quarter earnings.Academy Sports and Outdoors had expected the first half of 2023 to be challenging, but its first-quarter earnings were even less than it anticipated, the company said Tuesday.
Academy executives said consumers are cautious with purchases amid rising prices and economic uncertainty. The company also said weather in parts of the country hurt sales of seasonal items such as pool and patio items. As a result, net sales fell by 6 percent to $1.4 billion in the quarter from $1.5 billion in the same period last year.
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