Academy Sports & Outdoors, Inc. (NASDAQ:ASO) announced the immediate resignation of Scott Boatwright from its Board of Directors on Monday. Boatwright, an independent Class III member, did not cite any disputes or disagreements with the company’s operations, policies, or practices as reasons for his departure.
In response to the resignation, the board has decreased its size from eleven to ten directors. The company’s filing with the SEC on May 9, 2025, confirmed these changes, which took effect on May 5, 2025.
Academy Sports & Outdoors, headquartered in Katy, Texas, operates as a retail chain offering a range of sporting goods and outdoor recreation products. The reduction in board size follows the standard corporate governance practice of adjusting the board’s composition to meet the company’s current needs.
This move comes amid a landscape where corporate boards often reassess their size and structure to ensure strategic alignment with the company’s goals and shareholder interests. Academy Sports & Outdoors has not indicated any further changes to its board or executive team at this time.
Investors and stakeholders of the company are advised to review the official SEC filing for a complete understanding of the circumstances surrounding Boatwright’s resignation and the board’s subsequent reduction.
In other recent news, Academy Sports & Outdoors Inc. has reported several significant developments. The company’s fourth fiscal quarter of 2024 performance showed a 190-basis point increase in comparable store sales, surpassing consensus earnings expectations, according to Loop Capital, which has maintained a Buy rating with a $77 price target. Jefferies has adjusted its price target for Academy Sports to $52 from $60 while keeping a Buy rating, noting the potential benefits from higher-income consumers seeking affordable options and the company’s merchandise refresh. Meanwhile, Truist Securities lowered its price target to $45 from $51, maintaining a Hold rating, reflecting concerns over potential tariff-driven inflation and macroeconomic uncertainty.
Academy Sports has also announced the opening of its 300th store, marking expansion into Pennsylvania and Maryland, as part of its plan to open 20-25 new stores in fiscal year 2025. This expansion is accompanied by community involvement efforts, including donations to local Boys & Girls Clubs. Additionally, the company is enhancing its product offerings with the introduction of the Jordan brand, a move highlighted by both Loop Capital and Truist Securities as significant. These developments are part of Academy Sports’ ongoing growth strategy, which includes a focus on strategic brand partnerships and merchandise expansion.
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