Academy Sports And Outdoors, Inc. · NASDAQ:ASO
Academy Sports And Outdoors — Q4 2023 Earnings Presentation
15 slides from Academy Sports And Outdoors's earnings presentation, Mar 21, 2024
Slide 1: Fourth Quarter 2023 Supplemental Presentation
Fourth Quarter 2023 Supplemental Presentation March 21, 2024 Exhibit 99.1
Slide 2: Safe Harbor/Forward-Looking Statements
Safe Harbor/Forward-Looking Statements This presentation has been prepared by Academy Sports and Outdoors, Inc. (the “Company”) and contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
Slide 3: Q4 2023 Results
Q4 2023 Results • Opened 7 new stores • Gross margin improved 50 basis points from Q4 2022 • Earnings per share grew 12.2% compared to Q4 2022 • Key hires made to strengthen experienced leadership team ○ Chad Fox-Chief Customer Officer ○ Rob Howell-Chief Supply Chain Officer 3 -3.6% Comp Sales $1.8B
Slide 4: Fiscal 2023 Results
Fiscal 2023 Results • Successful transition of executive leadership • Opened 14 new stores • Launched new customer data platform • Laid groundwork for new Warehouse Management System (WMS) implementation • Generated $536 million of cash from operating activities; Deployed ~$200 million primarily on
Slide 5: Path Forward: Strategy & Goals
Path Forward: Strategy & Goals OUR STRATEGY 1. Open NEW STORES to expand the store base by 50%+ in existing and new markets 2. Build a more powerful OMNI-CHANNEL business 3. Drive our EXISTING BUSINESS 4. Leverage and scale our SUPPLY CHAIN to enable industry-leading growth 5. Support our growth wit
Slide 6: Long-Range Plan Strategy To Deliver Value
Long-Range Plan Strategy To Deliver Value Academy remains confident in its strategy, and continues to execute on the initiatives 6 1 Open New Stores to expand the store base by 50%+ in existing and new markets Build a more powerful Omni-Channel business Drive our Existing Business Leverage and scale
Slide 7: Updated New Store Economics
Updated New Store Economics 7 • Deliver better balance of new and existing market store openings • Target is to open 50% in new and adjacent markets and 50% in existing markets • Execute more smaller and mid-sized market opportunities • Lower volume, but high profit opportunity • Drive for a balance
Slide 8: Fiscal 2024 Outlook
Fiscal 2024 Outlook • We expect consumers to remain under pressure, but we have actions to drive sales: • Leverage Customer Data Platform (CDP) to drive traffic and conversion • Lean into position as everyday value retailer • Accelerate new store growth & omnichannel penetration • Test and bring in
Slide 9: Appendix
Appendix
Slide 10: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Adjusted EBITDA, Adjusted EBIT, Adjusted Net Income, Adjusted Earnings per Common Share, and ROIC have been presented in this presentation as supplemental measures of financial performance that are not required by, or presented in accordance with, generally accepted
Slide 11: Adjusted EBITDA and Adjusted EBIT
We define “Adjusted EBITDA” as net income (loss) before interest expense, net, income tax expense, depreciation, amortization, and impairment, and other adjustments included in the table below. We define “Adjusted EBIT” as Adjusted EBITDA less depreciation and amortization. We describe these adjustm
Slide 12: Adjusted Net Income and Adjusted Earnings per Common Share
We define “Adjusted Net Income (Loss)” as net income (loss), plus other adjustments included in the table below. We define “Adjusted Earnings per Common Share, Basic” as Adjusted Net Income divided by the basic weighted average common shares outstanding during the period and “Adjusted Earnings per C
Slide 13: Reconciliation footnotes
13 Net income for the year ended Feb. 3, 2024, includes a $15.9 million net gain for a credit card fee litigation settlement in Q4 2023. Net income for fiscal 2022 included a $7.2 million gain from a business interruption insurance recovery and a $3.7 million gain from the sale of a tariff relief li
Slide 14: Return On Invested Capital
14 Return On Invested Capital Return on Invested Capital (ROIC) is calculated as follows: (i) the numerator is defined as Adjusted EBITDA plus rent minus estimated taxes; and (ii) the denominator is defined as: (a) the sum of the 13-month average balances for: net receivables, inventory, prepaid exp
Slide 15: Academy Sports + Outdoors
Academy SPORTS+OUTDOORS
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