Academy Sports And Outdoors Narrows Annual Outlook Below View; Pre-Market Stock Down

(RTTNews) - Academy Sports and Outdoors, Inc. (ASO), sporting goods retail chain, on Tuesday narrowed its annual guidance, below analysts' estimates, citing third-quarter performance.

For the full year, the company now expects net profit of $400 million or $5.50 per share to $425 million or $5.80 per share, compared with earlier the expectation of $400 million or $5.45 per share to $460 million or $6.20 per share.

Excluding items, ASO now projects earnings of $420 million or $5.80 per share to $445 million or $6.10 per share as against the prior outlook of $420 million or $5.75 per share to $480 million or $6.50 per share.

Sales are now anticipated to be $5.895 billion to $5.940 billion, compared with earlier guidance of $5.895 billion to $6.075 billion.

On average, analysts polled by Thomson Reuters forecast the firm to report income per share of $6.14, on revenue of $6 billion, for the year. Analysts' estimates typically exclude special items.

ASO now anticipates annual capital expenditure of $185 million to $210 million against earlier guidance of $175 million to $225 million.

ASO was down by 4.11 percent at $48.34 in the pre-market trade on the Nasdaq.