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Investing.com -- Academy Sports and Outdoors Inc. (NASDAQ: ASO) shares have surged premarket on Wednesday after it reported second-quarter earnings above analyst expectations.
Adjusted earnings per share of $2.31 surpassed the analyst consensus of $2.08, while revenue of $1.65 billion met expectations. The sporting goods retailer raised its full-year adjusted EPS guidance while affirming its sales outlook, driving shares up more than 11% following the announcement.
Net sales increased 3.0% YoY from $1.60 billion in the prior-year period, though comparable sales declined 0.4%. The company noted that while consumer spending remains pressured, particularly among lower-income households, its team continued to execute at a high level. eCommerce sales grew 12.8% during the quarter.
"We delivered another quarter of profitable growth, with net sales increasing 3.0%," said Steve Lawrence, Chief Executive Officer. "We are reinvesting tariff-related benefits into value, expanding compelling new brands and categories, and accelerating initiatives across stores, omni-channel and loyalty."