Academy Sports and Outdoors Inc 2025年季度报告

FORM 10-Q (Mark One)☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the Quarterly Period Ended November 1, 2025or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ___________ to ___________.Commission File No. 001-39589 Academy Sports and Outdoors, Inc. (Exact name of registrant as specified in its charter) 85-1800912 (State or other jurisdiction ofincorporation or organization) (I.R.S. EmployerIdentification No.) 1800 North Mason RoadKaty, Texas 77449(Address of principal executive offices) (Zip Code)(281) 646-5200(Registrant’s Telephone Number, including Area Code)Not applicable(Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles). Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growthcompany” in Rule 12b-2 of the Exchange Act.Large accelerated filer☑Accelerated filer☐ Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☑ As of December2, 2025, Academy Sports and Outdoors, Inc. had 66,681,300 shares of common stock, par value $0.01 per share, outstanding. ACADEMY SPORTS AND OUTDOORS, INC.TABLE OF CONTENTS PagePART I. FINANCIAL INFORMATION3Item 1. Financial Statements3Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations19Item 3. Quantitative and Qualitative Disclosures About Market Risk34Item 4. Controls and Procedures34PART II. OTHER INFORMATION35Item 1. Legal Proceedings35Item 1A. Risk Factors35Item 2. Unregistered Sales of Equity Securities and Use of Proceeds36Item 3. Defaults Upon Senior Securities36Item 4. Mine Safety Disclosures36Item 5. Other Information36Item 6. Exhibits37SIGNATURES38 ACADEMY SPORTS AND OUTDOORS, INC.CONSOLIDATED BALANCE SHEETS(Unaudited)(Dollar amounts in thousands, except per share data) ACADEMY SPORTS AND OUTDOORS, INC.CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY(Unaudited)(Amounts in thousands, except per share data) ACADEMY SPORTS AND OUTDOORS, INC.CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY(Unaudited)(Amounts in thousands, except per share data) ACADEMY SPORTS AND OUTDOORS, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(Amounts in thousands) ACADEMY SPORTS AND OUTDOORS, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(Amounts in thousands) ACADEMY SPORTS AND OUTDOORS, INC.CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 1. Nature of Operations The Company All references to “we,” “us,” “our” or the “Company” in the financial statements refer to Academy Sports and Outdoors, Inc., aDelaware corporation (“ASO, Inc.”) and the current parent holding company of our operations, and its consolidated subsidiaries. Weconduct our operations primarily through our indirect subsidiary, Academy, Ltd., a Texas limited partnership doing business as“Academy Sports + Outdoors”, or Academy, Ltd. All of the Company's sales and business operations occur at Academy, Ltd., andAcademy, Ltd. is also the borrower and/or issuer of the Company's long-term debt and the lessee of the Company's facilities. Ourfiscal year represents the 52 or 53 weeks ending on the Saturday closest to January 31. The Company is a leading full-line sporting goods and outdoor recreational products retailer in the United States in terms of netsales. As of November 1, 2025, we operated 317 “Academy Sports + Outdoors” retail locations in 21 states and three distributioncenters located in Katy, Texas, Twiggs County, Georgia and Cookeville, Tennessee. Our distribution centers receive, store and shipmerchandise to our stores and customers. We also sell merchandise to customers across most of the United States via ouracademy.comwebsite and