Academy Sports and Outdoors reported second quarter net sales of $1.6 billion, up 3% year over year, with comparable sales down 0.4%, and reaffirmed its full-year sales guidance of plus 3% to plus 5%, translating to a flat to plus 2% comp for fiscal 2026. Gross margin for the quarter was 40.4%, up approximately 440 basis points year over year, driven by 510 basis points from tariff refunds and partially offset by a negative 70 basis point impact from merchandise margin as the company reinvested tariff refund proceeds into lower prices. Diluted earnings per share was $2.17, up 17.3%, and adjusted earnings per share was $2.31, up 19.1%, with tariff refunds net of strategic investments adding $0.06 to both figures. E-commerce grew 12.8% in the quarter, new stores in the comp base contributed approximately 50 basis points to comp, and the company repurchased approximately $181 million of shares in the first half, about 5% of shares outstanding, leaving $256 million on its repurchase authorization. Academy raised its full-year gross margin rate guidance to 35.5% to 36.0%, affirmed net income guidance of $390 million to $415 million, and raised EPS guidance to $6.05 to $6.45, with adjusted EPS of $6.50 to $6.90.
Academy Sports Outdoors IncQ2 EPS up 17.3% to $2.17, gross margin up 440bps on tariff refunds, and raised full-year EPS guidance to $6.05-$6.45.
