Academy Sports + Outdoors Inc.

ASO

Academy Sports + Outdoors is one of the leading full-line sporting goods and outdoor recreation retailers in the United States. We estimate that we served 30 million unique customers and completed approximately 80 million transactions in 2019 across our seamless omnichannel platform and highly productive stores, resulting in net sales of $4.8 billion and making us the largest value-oriented sporting goods and outdoor recreation retailer in the country. We have continually increased our market share by expanding our leadership in fast-growing merchandise categories and offering a broad, value-oriented assortment with deep and localized customer connections.

We believe the following key attributes differentiate us from our competitors:

       • Value-based assortment that enables our customers to participate and have fun, no matter their budget.

       • Broad assortment that extends beyond sporting goods and apparel to outdoor recreation.

      • Emerging, rapidly growing and profitable omnichannel strategy that leverages our strong BOPIS and shipping fulfillment capabilities.

      • Strong customer loyalty, with opportunities to increase penetration in existing markets.

      • Regional focus in the southern United States with a strong and growing presence in six of the top 10 fastest-growing MSAs.
 
      • Core customers comprising active families that we support with one-stop shop convenience.

      • Significant whitespace opportunity for both in-fill and adjacent geographies and new markets.
 
      • Strong financial profile with accelerating performance and attractive cash flow generation.

Originally founded in 1938 as a family business in Texas, we have grown to 259 stores across 16 contiguous states, primarily in the southern United States. Our mission is to provide “Fun for All” and fulfill this mission with a localized merchandising strategy and value proposition that deeply connect with a broad range of consumers. Our product assortment focuses on key categories of outdoor, apparel, footwear and sports & recreation (representing 32%, 29%, 21% and 18% of our 2019 net sales, respectively) through both leading national brands and a portfolio of 17 owned brands, which go well beyond traditional sporting goods and apparel offerings. 

Offer Price Offer Size 3-Year Outlook Volatility 1st Day Turnover
$13.00 15,600,000 Positive High 56.32%

Offering Team

Deal Managers

  • Credit Suisse
  • J P Morgan Chase
  • Bank of America Merrill Lynch

Lawyers

  • Simpson Thacher & Bartlett LLP

Auditors

  • Deloitte & Touche LLP

Pre-IPO Investors

Investors

  • Google Ventures
  • Intel Ventures
  • Patricoff Ventures
  • Kleiner Perkins

Pre-IPO Holdings(%)

  • 30
  • 20
  • 05
  • 18

Deal Highlights

Deal Tracker

Investors

Filing

28 Sep, 2020

Offer

02 Oct, 2020

Look Ahead

Lock Up Expiry

02 Apr, 2021

Earning

Nov 1, 2018

IPO Terms

Offer Price $13.00
Offer Size 15M

Market Sentiments

Stock Price