Academy Sports up after annual earnings forecast update, e-commerce boost

Shares of sporting goods retailer Academy Sports and Outdoors ASO.O up 4.4% at $46.30 premarket

Co says eCommerce sales grew 10.2% in Q1

We saw sequential improvement across each month of the quarter, despite a choppy macro-economic backdrop, which resulted in positive comparable sales in April - CEO Steve Lawrence

Co widens annual adjusted EPS forecast to between $5.45 and $6.25 vs. prior $5.75 to $6.20 outlook

Says changes account for wider range of scenarios amid uncertain demand environment

Sees annual comparable sales forecast to be between a 4% decline and 1% rise, compared to prior forecast of between a 2% decline and 1% rise, accounting for potential downside from inflationary pressures the remainder of the year.

Co narrowly misses Q1 net sales estimates, while posting Q1 adjusted EPS below expectations, according to data compiled by LSEG

Up to last close, stock has fallen 23% YTD