Academy Sports & Outdoors shares soar after earnings and sales beat expectations

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Academy Sports & Outdoors Inc.
ASO,
+5.58%

shares soared nearly 11% in Thursday premarket trading after the sporting goods retailer reported third-quarter earnings and sales that beat expectations. Net income totaled $59.6 million, or 74 cents per share, up from $28.6 million, or 38 cents per share, last year. Adjusted EPS of 91 cents blew past the FactSet consensus for 36 cents. Sales of $1.35 billion were a record, according to a statement from Chief Executive Ken Hicks, and were up from $1.15 billion last year. The FactSet consensus was for sales of $1.25 billion. E-commerce sales grew 95.9%, with stores facilitating 95% of total sales, including buy-online-pickup-in-store and other services. Comparable sales jumped 16.5%. Academy began trading on Oct. 2. Academy stock closed Wednesday at $16.85, up 29.6% from the IPO price of $13.



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