Why Academy Sports & Outdoors Soared 14% Higher This Week
Shares of sporting goods and outdoor activities retailer Academy Sports & Outdoors (NASDAQ: ASO) are soaring 14.3% higher compared to where they closed last Friday, according to data from S&P Global Market Intelligence, after the company reported stronger-than-expected third-quarter earnings.
Although the top- and bottom-line numbers fell year over year, Academy said it did not feel the pressure to be as promotional with its outdoor gear as some of its rivals. The retailer has improved its inventory position and consumer response to brands like Nike, Columbia Sportswear, and Carhartt was strong.
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Source Fool.com
