Academy Sports and Outdoors’ Upcoming Q2 Earnings Preview
<p>Wedbush analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/ASO'>Academy Sports and Outdoors, Inc. (NASDAQ:ASO)</a> ahead of the upcoming Q2 earnings, scheduled to be released on September 7.</p>
<p>The analyst see potential for modest beat-and-raise despite macro headwinds. While the company is facing tough sales comparisons that were boosted by 2021 stimulus, the analysts believe resilient category performance, a good start to the back-to-school season and outsized exposure to the Texas market drive modest upside to their 6% comp sales decline estimate (vs. Street’s 5.5% decline).</p>
<p>According to the analysts, the company’s comps historically move well with the broader sporting goods, hobby instrument and book store category retail sales reported by the Census Bureau, which increased 2% year-over-year in Q2/22. The analysts think that these positives outweigh a moderation in the company’s store traffic year-over-year growth and its outsized exposure to the mass market customer. The analyst maintained their outperform rating and $50 price target on the company’s shares.</p>

NASDAQ:ASO