0001817358-23-000229 | 10-Q | XBRL Viewer | Academy Sports Outdoors INC

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Oct. 28, 2023

Schedule of Cumulative Effect of Changes to Financial Statements

The following tables show the pro forma effect to our consolidated financial statements as if the Company had remained on LIFO (amounts in thousands):


	Thirteen Weeks Ended October 28, 2023						Thirty-Nine Weeks Ended October 28, 2023
	As Reported		Effect of Change		Pro Forma LIFO		As Reported		Effect of Change		Pro Forma LIFO
Consolidated Statements of Income:
Cost of goods sold	$	915,136	$	383	$	915,519	$	2,851,261	$	4,443	$	2,855,704
Gross margin	482,641		(383)		482,258		1,513,202		(4,443)		1,508,759
Operating income	136,731		(383)		136,348		473,890		(4,443)		469,447
Income before income taxes	129,947		(383)		129,564		451,899		(4,443)		447,456
Income tax expense	29,969		(98)		29,871		100,876		(933)		99,943
Net income	99,978		(285)		99,693		351,023		(3,510)		347,513

Earnings per common share:
Basic	$	1.34	$	(0.00)	$	1.34	$	4.63	$	(0.05)	$	4.58
Diluted	$	1.31	$	(0.00)	$	1.31	$	4.51	$	(0.05)	$	4.46


	October 28, 2023
	As Reported		Effect of Change		Pro Forma LIFO
Consolidated Balance Sheet:
Merchandise inventories, net	$	1,492,219	$	(4,443)	$	1,487,776
Total current assets	1,895,575		(4,443)		1,891,132
Total assets	4,921,270		(4,443)		4,916,827

Accrued expenses and other current liabilities	232,046		(18,733)		213,313
Total current liabilities	1,172,615		(18,733)		1,153,882

Deferred tax liabilities, net	264,565		17,800		282,365
Total liabilities	3,128,183		(933)		3,127,250

Retained earnings	1,552,899		(3,510)		1,549,389
Stockholders' equity	1,793,087		(3,510)		1,789,577
Total liabilities and stockholders' equity	4,921,270		(4,443)		4,916,827


	Thirty-Nine Weeks Ended October 28, 2023
	As Reported		Effect of Change		Pro Forma LIFO
Consolidated Statements of Cash Flows:
Net income	$	351,023	$	(3,510)	$	347,513
Deferred income taxes	5,522		17,800		23,322
LIFO charge	—		4,443		4,443
Income taxes payable	(7,910)		(18,733)		(26,643)
Net cash provided by operating activities	301,042		—		301,042

Summary of Share Repurchases

The following table summarizes our share repurchases for the periods presented:


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Shares repurchased	863,631		2,176,463		3,607,705		9,999,704
Aggregate amount paid (amounts in millions) (1)	$	43.9	$	100.8	$	201.5	$	389.4

(1) Includes estimated excise tax fees of $0.3 million and $1.5 million for the thirteen and thirty-nine weeks ended October 28, 2023, respectively.

Accrued Expenses and Other Current Liabilities

9 Months Ended

Oct. 28, 2023

Payables and Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following (amounts in thousands) as of:


	October 28, 2023		January 28, 2023		October 29, 2022
Accrued interest	$	13,395	$	7,015	$	13,340
Accrued personnel costs	33,014		57,504		57,979
Accrued professional fees	1,417		3,943		1,762
Accrued sales and use tax	17,441		9,302		15,025
Accrued self-insurance	15,694		20,941		15,677
Deferred revenue - gift cards and other	74,171		92,603		69,727
Income taxes payable	2,128		6,195		5,848

Property taxes	48,160		15,921		46,806
Sales return allowance	5,200		6,100		6,100
Other	21,426		20,645		26,915
Accrued expenses and other current liabilities	$	232,046	$	240,169	$	259,179

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Borrowings, fair value	$ 600.0	$ 600.0	$ 700.0
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 224.0	$ 95.6	$ 264.7

Property and Equipment

9 Months Ended

Oct. 28, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following (amounts in thousands) as of:


	October 28, 2023		January 28, 2023		October 29, 2022
Leasehold improvements	$	542,698	$	484,930	$	476,670
Equipment and software	671,939		641,387		624,915
Furniture and fixtures	383,507		360,099		352,501
Construction in progress	63,563		23,159		37,267
Land	3,698		3,698		3,698
Total property and equipment	1,665,405		1,513,273		1,495,051
Accumulated depreciation and amortization	(1,235,757)		(1,161,849)		(1,141,037)
Property and equipment, net	$	429,648	$	351,424	$	354,014

Depreciation expense was $27.4 million and $79.4 million in the thirteen and thirty-nine weeks ended October 28, 2023, respectively, and $27.0 million and $78.9 million in the thirteen and thirty-nine weeks ended October 29, 2022, respectively.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 351,023	$ 470,348
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	79,394	78,852
Non-cash lease expense	4,945	635
Equity compensation	26,128	15,486
Amortization of deferred loan and other costs	2,019	2,328
Deferred income taxes	5,522	25,631
Gain on disposal of property and equipment	(363)	0
Changes in assets and liabilities:
Accounts receivable, net	(1,203)	3,720
Merchandise inventories, net	(208,702)	(323,656)
Prepaid expenses and other current assets	(59,234)	798
Other noncurrent assets	(12,471)	(8,987)
Accounts payable	128,301	95,183
Accrued expenses and other current liabilities	(5,508)	(39,196)
Income taxes payable	(7,910)	(12,332)
Other long-term liabilities	(899)	359
Net cash provided by operating activities	301,042	309,169
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(151,963)	(79,454)
Purchases of intangible assets	(354)	(357)
Proceeds from the sale of property and equipment	2,126	0
Net cash used in investing activities	(150,191)	(79,811)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of Term Loan	(2,250)	(2,250)
Proceeds from exercise of stock options	13,444	11,559
Proceeds from issuance of common stock under employee stock purchase program	2,887	2,797
Taxes paid related to net share settlement of equity awards	(6,635)	(1,078)
Repurchase of common stock for retirement	(200,072)	(389,436)
Dividends paid	(20,543)	(18,781)
Net cash used in financing activities	(213,169)	(397,189)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(62,318)	(167,831)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	337,145	485,998
CASH AND CASH EQUIVALENTS AT END OF PERIOD	274,827	318,167
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	26,785	25,362
Cash paid for income taxes	105,833	129,588
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:
Non-cash capital expenditures	15,391	7,576
Right-of-use assets obtained in exchange for new operating leases	$ 110,450	$ 94,845

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Oct. 28, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Technology Related and Other Commitments As of October 28, 2023, we have obligations under technology-related, construction and other contractual commitments in the amount of $68.4 million. Of such commitments, approximately $36.4 million is payable in the next 12 months. Financial Guarantees During the normal course of business, we enter into contracts that contain a variety of representations and warranties and provide general indemnifications. The maximum exposure under these arrangements is unknown as this would involve future claims that may be made against us that have not yet occurred. However, based on experience, we believe the risk of loss to be remote. Legal Proceedings We are a defendant or co-defendant in lawsuits, claims and demands brought by various parties relating to matters normally incident to our business. No individual case, or group of cases against us, presenting substantially similar issues of law or fact, is expected to have a material effect on the manner in which we conduct our business or on our consolidated results of operations, financial position or liquidity. The majority of these cases are alleging product, premises, employment and/or commercial liability. Reserves have been established that we believe to be adequate based on our current evaluations and experience in these types of claim situations; however, the ultimate outcome of these cases cannot be determined at this time. We believe, taking into consideration our indemnities, defenses, insurance and reserves, the ultimate resolution of these matters will not have a material impact on our financial position, results of operations or cash flows. In addition, government agencies and self-regulatory organizations have the ability to conduct periodic examinations of and administrative proceedings regarding our business. On May 9, 2023, the U.S. Customs and Border Protection (the "CBP") notified us we owed additional duties relating to certain products that we imported from China that CBP believes are subject to certain anti-dumping and/or countervailing duties. We do not believe that these products are subject to such duties and are contesting CBP’s determination vigorously. While we contest CBP’s determination, we were required to deposit with CBP an amount of duties relating to these products, which are included in prepaid expenses and other current assets on the Company’s consolidated balance sheet while this matter is pending. We do not believe this matter will have a material adverse effect on our financial position, results of operations or cash flows. However, the ultimate outcome of this matter cannot be determined at this time, and we cannot assure you that we will be successful in contesting CBP's determination or that we will not need to accrue or pay additional amounts in the future. There have been no material developments during the fiscal quarter ended October 28, 2023, with respect to any of the matters discussed under the heading "Legal Proceedings" in the Annual Report. We are not currently party to any other legal proceedings that we believe would have a material adverse effect on our financial position, results of operations or cash flows. Sponsorship Agreement and Intellectual Property Commitments We periodically enter into sponsorship agreements generally with professional sports teams, associations, events, networks, or individual professional players and collegiate athletic programs in exchange for marketing and advertising promotions. We also enter into intellectual property agreements whereby the Company receives the right to use third-party owned trademarks typically in exchange for royalties on sales. These agreements typically contain a one to three-year term and contractual payment amounts required to be paid by the Company. As of October 28, 2023, we have $13.8 million in related commitments through 2027, of which $5.1 million is payable in the next 12 months.

Summary of Significant Accounting Policies - Summary of Share Repurchases (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022	Oct. 28, 2023	Oct. 29, 2022
Accounting Policies [Abstract]
Shares repurchased (in shares)	863,631			2,176,463			3,607,705	9,999,704
Aggregate amount paid (amounts in millions)	$ 43,910	$ 107,349	$ 50,264	$ 100,824	$ 200,111	$ 88,501	$ 201,500	$ 389,400
Excise tax fees	$ 300						$ 1,500

Long-Term Debt

9 Months Ended

Oct. 28, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Our debt consisted of the following (amounts in thousands) as of:


	October 28, 2023		January 28, 2023		October 29, 2022
ABL Facility, due November 2025	$	—	$	—	$	—
Term Loan, due November 2027	192,500		194,750		295,500
Notes, due November 2027	400,000		400,000		400,000
Total debt	592,500		594,750		695,500
Less current maturities	(3,000)		(3,000)		(3,000)
Less unamortized discount on Term Loan	(1,124)		(1,340)		(2,135)
Less deferred loan costs (1)	(5,012)		(5,954)		(7,562)
Long-term debt, net	$	583,364	$	584,456	$	682,803

(1) Deferred loan costs are related to the Term Loan and Notes.

As of October 28, 2023, January 28, 2023 and October 29, 2022, the balance in deferred loan costs related to the ABL Facility (as defined below) was approximately $2.3 million, $3.2 million and $3.5 million, respectively, and was included in other noncurrent assets on our consolidated balance sheets. Total amortization of deferred loan costs was $0.6 million and $1.8 million for the thirteen and thirty-nine weeks ended October 28, 2023, respectively, and $0.7 million and $2.0 million for the thirteen and thirty-nine weeks ended October 29, 2022, respectively. Total expenses related to accretion of original issuance discount was $0.1 million and $0.2 million for the thirteen and thirty-nine weeks ended October 28, 2023, respectively, and $0.1 million and $0.3 million for the thirteen and thirty-nine weeks ended October 29, 2022, respectively. The expenses related to amortization of deferred loan costs and accretion of original issuance discount are included in interest expense, net on the consolidated statements of income.

Term Loan

We refer to the 2020 Term Loan and the Amendment collectively as the "Term Loan".

On November 6, 2020, Academy, Ltd. entered into a seven-year $400.0 million senior secured term loan (the "2020 Term Loan"). On May 25, 2021, Academy, Ltd. entered into Amendment No. 4 (the “Amendment”) to the Second Amended and Restated Credit Agreement, dated as of November 6, 2020, among Academy, Ltd., as Borrower, Credit Suisse AG, Cayman Islands Branch, as the administrative agent and collateral agent, the several lenders party thereto and the several other parties named therein. Under the Amendment, the Term Loan bore interest, at Academy, Ltd.'s election, at either (1) LIBOR rate with a floor of 0.75%, plus a margin of 3.75%, or (2) a base rate equal to the highest of (a) the federal funds rate plus 0.50%, (b) Credit Suisse's "prime rate", or (c) the one-month LIBOR rate plus 1.00%, plus a margin of 4.00%.

On May 17, 2023, Academy, Ltd. entered into a Conforming Changes Amendment to the Second Amended and Restated Credit Agreement, dated as of November 6, 2020, among Academy, Ltd., as Borrower, Credit Suisse AG, Cayman Islands Branch, as the administrative agent and collateral agent and the several lenders party thereto and the several other parties named therein, which updated the Term Loan benchmark base interest rate from LIBOR to Adjusted Term SOFR (as defined in the Conforming Changes Amendment to the Second Amended and Restated Credit Agreement). The transition of our Term Loan to Adjusted Term SOFR became effective on August 1, 2023. Borrowings under the Term Loan bear interest, at our election, at either (1) Adjusted Term SOFR with a floor of 0.75% rate plus a margin of 3.75% or (2) a base rate equal to the highest of (a) the federal funds rate plus 0.50%, (b) the U.S. "prime rate" announced by the administrative agent, or (c) the one-month Adjusted Term SOFR with a floor of 0.75% rate, plus a margin of 3.75%. As of October 28, 2023, the weighted average interest rate was 9.18%, with interest payable monthly. Quarterly principal payments of $750.0 thousand are required through September 30, 2027 and borrowings mature on November 6, 2027. The terms and conditions of the Term Loan also require that the outstanding balance under the Term Loan is prepaid under certain circumstances. As of October 28, 2023, no prepayment was due under the terms and conditions of the Term Loan.

Notes

On November 6, 2020, Academy, Ltd. issued $400.0 million of 6.00% senior secured notes which are due November 15, 2027 (the "Notes"), pursuant to an indenture, dated as of November 6, 2020 (the "Indenture") with The Bank of New York Mellon Trust Company, N.A., as trustee and collateral agent. The Notes require cash interest payments semi-annually in arrears on May 15 and November 15 of each year at a rate of 6.00% per year.

ABL Facility

We refer to the 2020 ABL Facility and the amendments thereto collectively as the "ABL Facility".

On November 6, 2020, Academy, Ltd., as borrower, and the guarantors, amended the previously existing secured asset-based revolving credit facility by entering into an amendment to the First Amended and Restated ABL Credit Agreement, dated as of November 6, 2020, with JPMorgan Chase Bank, N.A. as the administrative agent and collateral agent, letter of credit issuer and swingline lender and the several lenders party thereto, which ABL amendment, among other things, extended the maturity of Academy, Ltd.’s asset-based revolving credit facility thereunder to November 6, 2025 (the "2020 ABL Facility").

On March 30, 2023, Academy, Ltd., as borrower, and the guarantors, amended the 2020 ABL Facility by entering into an amendment to the First Amended and Restated ABL Credit Agreement, dated as of July 2, 2015, with JP Morgan Chase Bank, N.A. as the ABL Agent and the several lenders party thereto, which ABL amendment updated its benchmark base interest rate from LIBOR to Adjusted Term SOFR.

The ABL Facility is used to provide financing for working capital and other general corporate purposes, as well as to support certain letters of credit requirements, and availability is subject to customary borrowing base and availability provisions. During the normal course of business, we periodically utilize letters of credit primarily for the purchase of import goods and in support of insurance contracts. As of October 28, 2023, we had outstanding letters of credit of approximately $11.6 million, all of which were issued under the ABL Facility, and we had no borrowings outstanding under the ABL Facility, leaving an available borrowing capacity under the ABL Facility of $988.4 million.

Borrowings under the ABL Facility bear interest, at our election, at either (1) Adjusted Term SOFR plus a margin of 1.25% to 1.75%, or (2) a base rate equal to the highest of (a) the federal funds rate plus 0.50%, (b) JPMorgan Chase Bank, N.A.'s "prime rate", or (c) the one-month Adjusted Term SOFR rate plus 1.00%, plus a margin of 0.25% to 0.75%. The ABL Facility also provides a fee applicable to the unused commitments of 0.25%. The terms and conditions of the ABL Facility also require that we prepay outstanding loans under the ABL Facility under certain circumstances. As of October 28, 2023, no future prepayments of outstanding loans have been triggered under the terms and conditions of the ABL Facility.

Covenants. The ABL Facility, Term Loan and Notes agreements contain covenants, including, among other things, covenants that may restrict Academy, Ltd.'s ability to incur certain additional indebtedness, create or permit liens on assets, engage in mergers or consolidations, pay dividends, make other restricted payments, make loans or advances, engage in transactions with affiliates or amend material documents. Additionally, at certain times, the ABL Facility is subject to a minimum adjusted fixed charge coverage ratio. These covenants are subject to certain qualifications and limitations. We were in compliance with these covenants as of October 28, 2023.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in dollars per share)	$ 0.09	$ 0.09	$ 0.09	$ 0.075	$ 0.075	$ 0.075

Long-Term Debt (Tables)

9 Months Ended

Oct. 28, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Our debt consisted of the following (amounts in thousands) as of:


	October 28, 2023		January 28, 2023		October 29, 2022
ABL Facility, due November 2025	$	—	$	—	$	—
Term Loan, due November 2027	192,500		194,750		295,500
Notes, due November 2027	400,000		400,000		400,000
Total debt	592,500		594,750		695,500
Less current maturities	(3,000)		(3,000)		(3,000)
Less unamortized discount on Term Loan	(1,124)		(1,340)		(2,135)
Less deferred loan costs (1)	(5,012)		(5,954)		(7,562)
Long-term debt, net	$	583,364	$	584,456	$	682,803

(1) Deferred loan costs are related to the Term Loan and Notes.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended
	Nov. 29, 2023	Jun. 02, 2022	Sep. 02, 2021	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)				$ 0.09	$ 0.09	$ 0.09	$ 0.075	$ 0.075	$ 0.075
Share repurchase program, authorized amount		$ 600.0	$ 500.0
Share repurchase program, period in force		3 years	3 years
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)	$ 0.09
Subsequent Event \| 2023 Share Repurchase Program
Subsequent Event [Line Items]
Share repurchase program, authorized amount	$ 600.0
Share repurchase program, period in force	3 years
Share repurchase program, remaining authorized amount	$ 699.4

Nature of Operations	9 Months Ended
Nature of Operations	Oct. 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	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., a Delaware corporation ("ASO, Inc.") and the current parent holding company of our operations, and its consolidated subsidiaries. We conduct our operations primarily through our parent holding company's 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., and Academy, Ltd. is also the borrower and/or issuer of the Company's long-term debt and lessee of facilities. Our fiscal 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 net sales. As of October 28, 2023, we operated 275 "Academy Sports + Outdoors" retail locations in 18 states and three distribution centers located in Katy, Texas, Twiggs County, Georgia and Cookeville, Tennessee. We also sell merchandise to customers across most of the United States via our academy.com website.

Long-Term Debt - Additional Detail (Details) - USD ($)			3 Months Ended		9 Months Ended
Long-Term Debt - Additional Detail (Details) - USD ($)	Aug. 01, 2023	Nov. 06, 2020	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022	Jan. 28, 2023
Debt Instrument [Line Items]
Deferred loan costs			$ 5,012,000	$ 7,562,000	$ 5,012,000	$ 7,562,000	$ 5,954,000
Amortization of debt issuance costs					2,019,000	2,328,000
Outstanding letters of credit			11,600,000		11,600,000
Line of Credit \| ABL Facility, due November 2025 \| Revolving Credit Facility
Debt Instrument [Line Items]
Amortization of debt issuance costs			600,000	700,000	1,800,000	2,000,000
Accretion of original discount			100,000	100,000	200,000	300,000
Borrowings outstanding			0		0
Remaining borrowing capacity			988,400,000		$ 988,400,000
Unused commitment fee, percentage					0.25%
Line of Credit \| ABL Facility, due November 2025 \| Revolving Credit Facility \| Other noncurrent assets
Debt Instrument [Line Items]
Deferred loan costs			$ 2,300,000	$ 3,500,000	$ 2,300,000	$ 3,500,000	$ 3,200,000
Line of Credit \| ABL Facility, due November 2025 \| Revolving Credit Facility \| Federal funds rate \| Variable Rate Component, Two
Debt Instrument [Line Items]
Basis spread on variable rate					0.50%
Line of Credit \| ABL Facility, due November 2025 \| Revolving Credit Facility \| Base Rate \| Variable Rate Component, Three \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate					0.25%
Line of Credit \| ABL Facility, due November 2025 \| Revolving Credit Facility \| Base Rate \| Variable Rate Component, Three \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate					0.75%
Line of Credit \| ABL Facility, due November 2025 \| Revolving Credit Facility \| Adjusted Term SOFR \| Variable Rate Component, One \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate					1.25%
Line of Credit \| ABL Facility, due November 2025 \| Revolving Credit Facility \| Adjusted Term SOFR \| Variable Rate Component, One \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate					1.75%
Line of Credit \| ABL Facility, due November 2025 \| Revolving Credit Facility \| Adjusted Term SOFR \| Variable Rate Component, Three
Debt Instrument [Line Items]
Basis spread on variable rate					1.00%
Secured Debt \| 2020 Term Loan Facility
Debt Instrument [Line Items]
Debt term		7 years
Debt face amount		$ 400,000,000
Weighted average interest rate			9.18%		9.18%
Quarterly principal payments		$ 750,000
Secured Debt \| 2020 Term Loan Facility \| LIBOR rate \| Variable Rate Component, One
Debt Instrument [Line Items]
Interest rate floor		0.75%
Basis spread on variable rate		3.75%
Secured Debt \| 2020 Term Loan Facility \| LIBOR rate \| Variable Rate Component, Two
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Secured Debt \| 2020 Term Loan Facility \| Federal funds rate \| Variable Rate Component, Two
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%	0.50%
Secured Debt \| 2020 Term Loan Facility \| Base Rate \| Variable Rate Component, Two
Debt Instrument [Line Items]
Basis spread on variable rate		4.00%
Secured Debt \| 2020 Term Loan Facility \| Adjusted Term SOFR \| Variable Rate Component, One
Debt Instrument [Line Items]
Interest rate floor	0.75%
Basis spread on variable rate	3.75%
Secured Debt \| 2020 Term Loan Facility \| Adjusted Term SOFR \| Variable Rate Component, Two
Debt Instrument [Line Items]
Interest rate floor	0.75%
Basis spread on variable rate	3.75%
Senior Notes \| Notes, due November 2027
Debt Instrument [Line Items]
Debt face amount		$ 400,000,000
Interest rate, stated percentage		6.00%

Share-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022	Jun. 01, 2023	Oct. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation expense	$ 6.2	$ 5.8	$ 26.1	$ 15.5
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	2,000,000		2,000,000
Common stock authorized for grant (in shares)	1,650,543		1,650,543
Common stock available for grant (in shares)	1,650,543		1,650,543
2020 Share Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)					2,600,000	5,150,000
Common stock authorized for grant (in shares)	4,256,743		4,256,743
Common stock available for grant (in shares)	4,256,743		4,256,743

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (a)(1)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Earnings per Common Share

9 Months Ended

Oct. 28, 2023

Earnings Per Share [Abstract]

Earnings per Common Share

Basic earnings per common share is calculated based on net income divided by the basic weighted average common shares outstanding during the period, and diluted earnings per common share is calculated based on net income divided by the diluted weighted average common shares outstanding. Diluted weighted average common shares outstanding is based on the basic weighted average common shares outstanding plus any potential dilutive effect of stock-based awards outstanding during the period using the treasury stock method, which assumes the potential proceeds received from the dilutive stock options are used to purchase treasury stock. Anti-dilutive stock-based awards do not include awards which have a performance target which has yet to be achieved.

Basic and diluted weighted average common shares outstanding and basic and diluted earnings per common share are calculated as follows (amounts in thousands except per share amounts):


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Net income	$	99,978	$	131,741	$	351,023	$	470,348

Weighted average common shares outstanding - basic	74,461		79,085		75,809		82,901
Dilutive effect of Service Restricted Stock Units	177		144		301		123
Dilutive effect of Performance Restricted Stock Units	155		105		159		96
Dilutive effect of Service Options	1,176		1,840		1,478		1,581
Dilutive effect of Performance Unit Options	88		205		119		209
Dilutive effect of ESPP Shares	—		—		27		—
Weighted average common shares outstanding - diluted	76,057		81,379		77,893		84,910

Earnings per common share - basic	$	1.34	$	1.67	$	4.63	$	5.67
Earnings per common share - diluted	$	1.31	$	1.62	$	4.51	$	5.54

Anti-dilutive stock-based awards excluded from diluted calculation	253		7		135		59

Commitments and Contingencies (Details) $ in Millions	9 Months Ended
Commitments and Contingencies (Details) $ in Millions	Oct. 28, 2023 USD ($)
Freight, technology-related, construction and other contractual commitments
Long-term Purchase Commitment [Line Items]
Contractual commitment obligations	$ 68.4
Contractual commitment obligations, payable in next 12 months	36.4
Sponsorship Agreement and Intellectual Property Commitments
Long-term Purchase Commitment [Line Items]
Contractual commitment obligations	13.8
Contractual commitment obligations, payable in next 12 months	$ 5.1
Minimum \| Sponsorship Agreement and Intellectual Property Commitments
Long-term Purchase Commitment [Line Items]
Agreement term	1 year
Maximum \| Sponsorship Agreement and Intellectual Property Commitments
Long-term Purchase Commitment [Line Items]
Agreement term	3 years

Earnings per Common Share (Tables)

9 Months Ended

Oct. 28, 2023

Earnings Per Share [Abstract]

Earnings per Common Share

Basic and diluted weighted average common shares outstanding and basic and diluted earnings per common share are calculated as follows (amounts in thousands except per share amounts):


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Net income	$	99,978	$	131,741	$	351,023	$	470,348

Weighted average common shares outstanding - basic	74,461		79,085		75,809		82,901
Dilutive effect of Service Restricted Stock Units	177		144		301		123
Dilutive effect of Performance Restricted Stock Units	155		105		159		96
Dilutive effect of Service Options	1,176		1,840		1,478		1,581
Dilutive effect of Performance Unit Options	88		205		119		209
Dilutive effect of ESPP Shares	—		—		27		—
Weighted average common shares outstanding - diluted	76,057		81,379		77,893		84,910

Earnings per common share - basic	$	1.34	$	1.67	$	4.63	$	5.67
Earnings per common share - diluted	$	1.31	$	1.62	$	4.51	$	5.54

Anti-dilutive stock-based awards excluded from diluted calculation	253		7		135		59

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings
Stockholders' Equity, beginning balance (in shares) at Jan. 29, 2022		87,079,000
Stockholders' Equity, beginning balance at Jan. 29, 2022	$ 1,466,946	$ 870	$ 198,016	$ 1,268,060
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	149,806			149,806
Equity compensation	3,499		3,499
Repurchase of common stock for retirement (in shares)		(2,272,000)
Repurchase of common stock for retirement	(88,501)	$ (23)	(5,247)	(83,231)
Settlement of vested Restricted Stock Units, net of shares withheld (in shares)		63,000
Settlement of vested Restricted Stock Units, net of shares withheld	0	$ 1	(1)
Stock option exercises (in shares)		201,000
Stock option exercises, net of shares withheld	3,294	$ 2	3,292
Cash dividends declared	(6,536)			(6,536)
Stockholders' Equity, ending balance (in shares) at Apr. 30, 2022		85,071,000
Stockholders' Equity, ending balance at Apr. 30, 2022	$ 1,528,508	$ 850	199,559	1,328,099
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared (in dollars per share)	$ 0.075
Stockholders' Equity, beginning balance (in shares) at Jan. 29, 2022		87,079,000
Stockholders' Equity, beginning balance at Jan. 29, 2022	$ 1,466,946	$ 870	198,016	1,268,060
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 470,348
Repurchase of common stock for retirement (in shares)	(9,999,704)
Repurchase of common stock for retirement	$ (389,400)
Stockholders' Equity, ending balance (in shares) at Oct. 29, 2022	77,959,530	77,960,000
Stockholders' Equity, ending balance at Oct. 29, 2022	$ 1,558,919	$ 779	203,734	1,354,406
Stockholders' Equity, beginning balance (in shares) at Apr. 30, 2022		85,071,000
Stockholders' Equity, beginning balance at Apr. 30, 2022	1,528,508	$ 850	199,559	1,328,099
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	188,801			188,801
Equity compensation	6,158		6,158
Repurchase of common stock for retirement (in shares)		(5,551,000)
Repurchase of common stock for retirement	(200,111)	$ (55)	(13,391)	(186,665)
Settlement of vested Restricted Stock Units, net of shares withheld (in shares)		29,000
Settlement of vested Restricted Stock Units, net of shares withheld	0	$ 0	0
Issuance of common stock under employee stock purchase plan (in shares)		93,000
Issuance of common stock under employee stock purchase plan	2,797	$ 1	2,796
Stock option exercises (in shares)		83,000
Stock option exercises, net of shares withheld	1,389	$ 1	1,388
Cash dividends declared	(6,271)			(6,271)
Stockholders' Equity, ending balance (in shares) at Jul. 30, 2022		79,725,000
Stockholders' Equity, ending balance at Jul. 30, 2022	$ 1,521,271	$ 797	196,510	1,323,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared (in dollars per share)	$ 0.075
Net income	$ 131,741			131,741
Equity compensation	$ 5,829		5,829
Repurchase of common stock for retirement (in shares)	(2,176,463)	(2,176,000)
Repurchase of common stock for retirement	$ (100,824)	$ (22)	(5,477)	(95,325)
Settlement of vested Restricted Stock Units, net of shares withheld (in shares)		3,000
Settlement of vested Restricted Stock Units, net of shares withheld	0	$ 0	0
Stock option exercises (in shares)		408,000
Stock option exercises, net of shares withheld	6,876	$ 4	6,872
Cash dividends declared	$ (5,974)			(5,974)
Stockholders' Equity, ending balance (in shares) at Oct. 29, 2022	77,959,530	77,960,000
Stockholders' Equity, ending balance at Oct. 29, 2022	$ 1,558,919	$ 779	203,734	1,354,406
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared (in dollars per share)	$ 0.075
Stockholders' Equity, beginning balance (in shares) at Jan. 28, 2023	76,711,720	76,712,000
Stockholders' Equity, beginning balance at Jan. 28, 2023	$ 1,628,306	$ 767	216,209	1,411,330
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	93,970			93,970
Equity compensation	11,382		11,382
Repurchase of common stock for retirement (in shares)		(750,000)
Repurchase of common stock for retirement	(50,264)	$ (8)	(2,450)	(47,806)
Settlement of vested Restricted Stock Units, net of shares withheld (in shares)		93,000
Settlement of vested Restricted Stock Units, net of shares withheld	(2,469)	$ 1	(2,470)
Stock option exercises (in shares)		385,000
Stock option exercises, net of shares withheld	6,966	$ 4	6,962
Cash dividends declared	(6,929)			(6,929)
Stockholders' Equity, ending balance (in shares) at Apr. 29, 2023		76,440,000
Stockholders' Equity, ending balance at Apr. 29, 2023	$ 1,680,962	$ 764	229,633	1,450,565
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared (in dollars per share)	$ 0.09
Stockholders' Equity, beginning balance (in shares) at Jan. 28, 2023	76,711,720	76,712,000
Stockholders' Equity, beginning balance at Jan. 28, 2023	$ 1,628,306	$ 767	216,209	1,411,330
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 351,023
Repurchase of common stock for retirement (in shares)	(3,607,705)
Repurchase of common stock for retirement	$ (201,500)
Stockholders' Equity, ending balance (in shares) at Oct. 28, 2023	74,143,759	74,144,000
Stockholders' Equity, ending balance at Oct. 28, 2023	$ 1,793,087	$ 741	239,447	1,552,899
Stockholders' Equity, beginning balance (in shares) at Apr. 29, 2023		76,440,000
Stockholders' Equity, beginning balance at Apr. 29, 2023	1,680,962	$ 764	229,633	1,450,565
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	157,075			157,075
Equity compensation	8,501		8,501
Repurchase of common stock for retirement (in shares)		(1,994,000)
Repurchase of common stock for retirement	(107,349)	$ (20)	(7,087)	(100,242)
Settlement of vested Restricted Stock Units, net of shares withheld (in shares)		41,000
Settlement of vested Restricted Stock Units, net of shares withheld	(268)	$ 0	(268)
Issuance of common stock under employee stock purchase plan (in shares)		67,000
Issuance of common stock under employee stock purchase plan	2,887	$ 1	2,886
Stock option exercises (in shares)		292,000
Stock option exercises, net of shares withheld	3,127	$ 3	3,124
Cash dividends declared	(6,896)			(6,896)
Stockholders' Equity, ending balance (in shares) at Jul. 29, 2023		74,846,000
Stockholders' Equity, ending balance at Jul. 29, 2023	$ 1,738,039	$ 748	236,789	1,500,502
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared (in dollars per share)	$ 0.09
Net income	$ 99,978			99,978
Equity compensation	$ 6,245		6,245
Repurchase of common stock for retirement (in shares)	(863,631)	(864,000)
Repurchase of common stock for retirement	$ (43,910)	$ (9)	(3,038)	(40,863)
Settlement of vested Restricted Stock Units, net of shares withheld (in shares)		53,000
Settlement of vested Restricted Stock Units, net of shares withheld	(1,605)	$ 1	(1,606)
Stock option exercises (in shares)		109,000
Stock option exercises, net of shares withheld	1,058	$ 1	1,057
Cash dividends declared	$ (6,718)			(6,718)
Stockholders' Equity, ending balance (in shares) at Oct. 28, 2023	74,143,759	74,144,000
Stockholders' Equity, ending balance at Oct. 28, 2023	$ 1,793,087	$ 741	$ 239,447	$ 1,552,899
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared (in dollars per share)	$ 0.09

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 274,827	$ 337,145	$ 318,167
Accounts receivable - less allowance for doubtful accounts of $3,102, $2,004 and $1,449, respectively	17,706	16,503	15,998
Merchandise inventories, net	1,492,219	1,283,517	1,495,464
Prepaid expenses and other current assets	110,823	47,747	44,241
Assets held for sale	0	1,763	1,763
Total current assets	1,895,575	1,686,675	1,875,633
PROPERTY AND EQUIPMENT, NET	429,648	351,424	354,014
RIGHT-OF-USE ASSETS	1,126,825	1,100,085	1,100,522
TRADE NAME	578,071	577,716	577,571
GOODWILL	861,920	861,920	861,920
OTHER NONCURRENT ASSETS	29,231	17,619	12,804
Total assets	4,921,270	4,595,439	4,782,464
CURRENT LIABILITIES:
Accounts payable	820,428	686,472	840,585
Accrued expenses and other current liabilities	232,046	240,169	259,179
Current lease liabilities	117,141	109,075	88,447
Current maturities of long-term debt	3,000	3,000	3,000
Total current liabilities	1,172,615	1,038,716	1,191,211
LONG-TERM DEBT, NET	583,364	584,456	682,803
LONG-TERM LEASE LIABILITIES	1,095,812	1,072,192	1,093,909
DEFERRED TAX LIABILITIES, NET	264,565	259,043	242,843
OTHER LONG-TERM LIABILITIES	11,827	12,726	12,779
Total liabilities	3,128,183	2,967,133	3,223,545
COMMITMENTS AND CONTINGENCIES (NOTE 10)
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value, authorized 50,000,000 shares; none issued and outstanding	0	0	0
Common stock, $0.01 par value, authorized 300,000,000 shares; 74,143,759; 76,711,720 and 77,959,530 issued and outstanding as of October 28, 2023, January 28, 2023 and October 29, 2022, respectively.	741	767	779
Additional paid-in capital	239,447	216,209	203,734
Retained earnings	1,552,899	1,411,330	1,354,406
Stockholders' equity	1,793,087	1,628,306	1,558,919
Total liabilities and stockholders' equity	$ 4,921,270	$ 4,595,439	$ 4,782,464

Net Sales - Gift Card Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Change in Contract with Customer, Liability [Roll Forward]
Gift card liability, beginning balance	$ 74,750	$ 69,959	$ 90,650	$ 86,568
Issued	18,855	18,288	61,968	63,164
Gift card liability, ending balance	71,849	66,544	71,849	66,544
Redeemed
Change in Contract with Customer, Liability [Roll Forward]
Redeemed and recognized as breakage income	(20,835)	(21,023)	(77,626)	(80,668)
Recognized as breakage income
Change in Contract with Customer, Liability [Roll Forward]
Redeemed and recognized as breakage income	$ (921)	$ (680)	$ (3,143)	$ (2,520)

Summary of Significant Accounting Policies

9 Months Ended

Oct. 28, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

The accompanying unaudited financial statements of the Company have been prepared as though they were required to be in accordance with Rule 10-01 of Regulation S-X for interim financial statements, however, they do not include all information and footnotes required by United States generally accepted accounting principles ("GAAP") for complete financial statements. Certain information and footnote disclosures normally included in our annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. However, we believe that the disclosures included herein are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended January 28, 2023, as filed with the Securities and Exchange Commission on March 16, 2023 (the "Annual Report"). The information furnished herein reflects all normal recurring adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The results of operations for the thirteen and thirty-nine weeks ended October 28, 2023 are not necessarily indicative of the results that will be realized for the fiscal year ending February 3, 2024 or any other period. The balance sheet as of January 28, 2023 has been derived from our audited financial statements as of that date. For further information, refer to our audited financial statements and notes thereto included in the Annual Report.

Basis of Presentation and Principles of Consolidation

These unaudited condensed consolidated financial statements include the accounts of ASO, Inc. and its subsidiaries, New Academy Holding Company, LLC ("NAHC"), Academy Managing Co., LLC, Associated Investors, LLC, Academy, Ltd., the Company's operating company, and Academy International Limited. NAHC, Academy Managing Co., LLC, and Associated Investors, LLC are intermediate holding companies. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Our management bases its estimates on historical experience and other assumptions it believes to be reasonable under the circumstances. Actual results could differ significantly from those estimates. Our most significant estimates and assumptions that materially affect the financial statements involve difficult, subjective or complex judgments by management, including the valuation of merchandise inventories and performing goodwill, intangible and long-lived asset impairment analyses. Given the global economic climate, these estimates remain challenging, and actual results could differ materially from our estimates.

Reclassifications

Within the merchandise division sales table presented in Note 3, certain products and categories were recategorized amongst various categories and divisions, respectively, to better align with our current merchandising strategy and view of the business. As a result, we have reclassified sales between divisions in the thirteen and thirty-nine weeks ended October 29, 2022 for comparability purposes. This reclassification is in divisional presentation only and did not impact the overall net sales balances previously disclosed.

Change in Accounting Principle

Effective January 29, 2023, the Company changed the method of accounting for its inventories from the last-in-first-out (“LIFO”) method to the weighted average cost method. The Company believes that this inventory method change is preferable because we believe it improves comparability with industry peers and is a more accurate representation of merchandise inventories, net and cost of goods sold. Due to historical price deflation on the Company’s merchandise purchases, the Company was in a position where the LIFO merchandise inventories value exceeded the cost of its inventory for all periods presented in the consolidated financial statements. In considering the lower of cost or market principle, merchandise inventories valued at LIFO, including necessary valuation adjustments, approximated the cost of such inventories using the weighted average inventory method. As such, there is no impact to the prior periods from the retrospective presentation of the change.

The following tables show the pro forma effect to our consolidated financial statements as if the Company had remained on LIFO (amounts in thousands):


	Thirteen Weeks Ended October 28, 2023						Thirty-Nine Weeks Ended October 28, 2023
	As Reported		Effect of Change		Pro Forma LIFO		As Reported		Effect of Change		Pro Forma LIFO
Consolidated Statements of Income:
Cost of goods sold	$	915,136	$	383	$	915,519	$	2,851,261	$	4,443	$	2,855,704
Gross margin	482,641		(383)		482,258		1,513,202		(4,443)		1,508,759
Operating income	136,731		(383)		136,348		473,890		(4,443)		469,447
Income before income taxes	129,947		(383)		129,564		451,899		(4,443)		447,456
Income tax expense	29,969		(98)		29,871		100,876		(933)		99,943
Net income	99,978		(285)		99,693		351,023		(3,510)		347,513

Earnings per common share:
Basic	$	1.34	$	(0.00)	$	1.34	$	4.63	$	(0.05)	$	4.58
Diluted	$	1.31	$	(0.00)	$	1.31	$	4.51	$	(0.05)	$	4.46


	October 28, 2023
	As Reported		Effect of Change		Pro Forma LIFO
Consolidated Balance Sheet:
Merchandise inventories, net	$	1,492,219	$	(4,443)	$	1,487,776
Total current assets	1,895,575		(4,443)		1,891,132
Total assets	4,921,270		(4,443)		4,916,827

Accrued expenses and other current liabilities	232,046		(18,733)		213,313
Total current liabilities	1,172,615		(18,733)		1,153,882

Deferred tax liabilities, net	264,565		17,800		282,365
Total liabilities	3,128,183		(933)		3,127,250

Retained earnings	1,552,899		(3,510)		1,549,389
Stockholders' equity	1,793,087		(3,510)		1,789,577
Total liabilities and stockholders' equity	4,921,270		(4,443)		4,916,827


	Thirty-Nine Weeks Ended October 28, 2023
	As Reported		Effect of Change		Pro Forma LIFO
Consolidated Statements of Cash Flows:
Net income	$	351,023	$	(3,510)	$	347,513
Deferred income taxes	5,522		17,800		23,322
LIFO charge	—		4,443		4,443
Income taxes payable	(7,910)		(18,733)		(26,643)
Net cash provided by operating activities	301,042		—		301,042

Share Repurchases

On September 2, 2021, the Board of Directors of the Company authorized a share repurchase program (the "2021 Share Repurchase Program") under which the Company may purchase up to $500 million of its outstanding shares during the three-year period ending September 2, 2024. On June 2, 2022, the Board of Directors of the Company authorized a new share repurchase program (the "2022 Share Repurchase Program") under which the Company may purchase up to $600 million of its outstanding shares during the three-year period ending June 2, 2025. The 2022 Share Repurchase Program and the 2021 Share Repurchase program are collectively referred to as the "Share Repurchase Programs".

Under the Share Repurchase Programs, repurchases can be made using a variety of methods, which may include open market purchases, block trades, privately negotiated transactions, accelerated share repurchase programs and/or a non-discretionary trading plan, all in compliance with the rules of the SEC and other applicable legal requirements. The timing, manner, price and amount of any common share repurchases under the Share Repurchase Programs are determined by the Company in its discretion and depend on a variety of factors, including legal requirements, price and economic and market conditions. The Share Repurchase Programs do not obligate the Company to acquire any particular number of common shares, and the programs may be suspended, extended, modified or discontinued at any time.

The following table summarizes our share repurchases for the periods presented:


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Shares repurchased	863,631		2,176,463		3,607,705		9,999,704
Aggregate amount paid (amounts in millions) (1)	$	43.9	$	100.8	$	201.5	$	389.4

(1) Includes estimated excise tax fees of $0.3 million and $1.5 million for the thirteen and thirty-nine weeks ended October 28, 2023, respectively.

As of October 28, 2023, we no longer had availability under the 2021 Share Repurchase Program, and we had $99.4 million available for share repurchases pursuant to the 2022 Share Repurchase Program.

Supplier Finance Programs

In September 2022, the FASB issued ASU 2022-04: Liabilities - Supplier Finance Programs Disclosure of Supplier Finance Program Obligations. This pronouncement requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of the financial statements to understand the program's nature, activity during the period, changes from period to period and potential magnitude. The Company adopted the new guidance as of January 29, 2023.

We have previously entered into a supply chain financing arrangement with a third-party financial institution, whereby certain suppliers have the ability to settle outstanding payment obligations earlier than the due date required by our original supplier terms. Subsequently, we settle invoices with the financial institution within 45 days, which approximates our original supplier terms. The Company does not have an economic interest in suppliers’ voluntary participation, does not provide any guarantees or pledge assets under these arrangements, and our rights and obligations to our suppliers, including amounts due, are not impacted. Our liability associated with these arrangements, which is presented within accounts payable on the consolidated balance sheets, was $6.9 million, $9.0 million and $6.8 million as of October 28, 2023, January 28, 2023 and October 29, 2022, respectively.

Recent Accounting Pronouncements

Reference Rate Reform

In March 2020, the FASB issued ASU 2020-04: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This pronouncement provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. In December 2022, the FASB issued ASU 2022-06 which extended the effectiveness of this guidance to December 31, 2024. The Company elected to utilize these optional expedients in connection with the amendments to our ABL Facility and Term Loan, which transitioned the facility from LIBOR to the Secured Overnight Financing Rate (“SOFR”) on March 30, 2023 and August 1, 2023, respectively (see Note 4).

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Oct. 28, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as an exit price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Authoritative guidance establishes a three-level hierarchy for disclosure that is based on the extent and level of judgment used to estimate the fair value of the assets and liabilities. The fair value measurements are classified as either: •Level 1 which represents valuations based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; •Level 2 which represents valuations based on quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and •Level 3 which represents valuations based on prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy in which the fair value measurement is classified in its entirety, is based on the lowest level input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. There were no transfers made into or out of the Level 1, 2 or 3 categories during any period presented. Periodically we make cash investments in money market funds comprised of U.S. Government treasury bills and securities, which are classified as cash and redeemable on demand. As of October 28, 2023, January 28, 2023 and October 29, 2022, we held $224.0 million, $95.6 million and $264.7 million in money market funds, respectively. The fair value of the Term Loan and Notes is estimated using a discounted cash flow analysis based on quoted market prices for the instrument in an inactive market and is therefore classified as Level 2 within the fair value hierarchy. As of October 28, 2023, January 28, 2023, and October 29, 2022 the estimated fair value of the Term Loan and Notes was $0.6 billion, $0.6 billion and $0.7 billion, respectively. As borrowings on the ABL Facility are generally repaid in less than 12 months, we believe that fair value approximates the carrying value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Summary of Significant Accounting Policies - Cumulative Effect of Changes (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022	Oct. 28, 2023	Oct. 29, 2022	Jan. 28, 2023	Jan. 29, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	$ 915,136			$ 971,454			$ 2,851,261	$ 3,008,612
Gross margin	482,641			522,471			1,513,202	1,639,958
Operating income	136,731			179,522			473,890	641,749
Income before income taxes	129,947			169,897			451,899	612,185
Income tax expense	29,969			38,156			100,876	141,837
NET INCOME	$ 99,978	$ 157,075	$ 93,970	$ 131,741	$ 188,801	$ 149,806	$ 351,023	$ 470,348
Earnings per common share - basic (in usd per share)	$ 1.34			$ 1.67			$ 4.63	$ 5.67
Earnings per common share - diluted (in usd per share)	$ 1.31			$ 1.62			$ 4.51	$ 5.54
Merchandise inventories, net	$ 1,492,219			$ 1,495,464			$ 1,492,219	$ 1,495,464	$ 1,283,517
Total current assets	1,895,575			1,875,633			1,895,575	1,875,633	1,686,675
Total assets	4,921,270			4,782,464			4,921,270	4,782,464	4,595,439
Accrued expenses and other current liabilities	232,046			259,179			232,046	259,179	240,169
Total current liabilities	1,172,615			1,191,211			1,172,615	1,191,211	1,038,716
Deferred tax liabilities, net	264,565			242,843			264,565	242,843	259,043
Total liabilities	3,128,183			3,223,545			3,128,183	3,223,545	2,967,133
Retained earnings	1,552,899			1,354,406			1,552,899	1,354,406	1,411,330
Stockholders' equity	1,793,087	$ 1,738,039	$ 1,680,962	1,558,919	$ 1,521,271	$ 1,528,508	1,793,087	1,558,919	1,628,306	$ 1,466,946
Total liabilities and stockholders' equity	4,921,270			$ 4,782,464			4,921,270	4,782,464	$ 4,595,439
Deferred income taxes							5,522	25,631
LIFO charge							0
Income taxes payable							(7,910)	(12,332)
Net cash provided by operating activities							301,042	$ 309,169
Effect of Change
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	383						4,443
Gross margin	(383)						(4,443)
Operating income	(383)						(4,443)
Income before income taxes	(383)						(4,443)
Income tax expense	(98)						(933)
NET INCOME	$ (285)						$ (3,510)
Earnings per common share - basic (in usd per share)	$ (0.00)						$ (0.05)
Earnings per common share - diluted (in usd per share)	$ (0.00)						$ (0.05)
Merchandise inventories, net	$ (4,443)						$ (4,443)
Total current assets	(4,443)						(4,443)
Total assets	(4,443)						(4,443)
Accrued expenses and other current liabilities	(18,733)						(18,733)
Total current liabilities	(18,733)						(18,733)
Deferred tax liabilities, net	17,800						17,800
Total liabilities	(933)						(933)
Retained earnings	(3,510)						(3,510)
Stockholders' equity	(3,510)						(3,510)
Total liabilities and stockholders' equity	(4,443)						(4,443)
Deferred income taxes							17,800
LIFO charge							4,443
Income taxes payable							(18,733)
Net cash provided by operating activities							0
Pro Forma LIFO
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	915,519						2,855,704
Gross margin	482,258						1,508,759
Operating income	136,348						469,447
Income before income taxes	129,564						447,456
Income tax expense	29,871						99,943
NET INCOME	$ 99,693						$ 347,513
Earnings per common share - basic (in usd per share)	$ 1.34						$ 4.58
Earnings per common share - diluted (in usd per share)	$ 1.31						$ 4.46
Merchandise inventories, net	$ 1,487,776						$ 1,487,776
Total current assets	1,891,132						1,891,132
Total assets	4,916,827						4,916,827
Accrued expenses and other current liabilities	213,313						213,313
Total current liabilities	1,153,882						1,153,882
Deferred tax liabilities, net	282,365						282,365
Total liabilities	3,127,250						3,127,250
Retained earnings	1,549,389						1,549,389
Stockholders' equity	1,789,577						1,789,577
Total liabilities and stockholders' equity	$ 4,916,827						4,916,827
Deferred income taxes							23,322
LIFO charge							4,443
Income taxes payable							(26,643)
Net cash provided by operating activities							$ 301,042

Share-Based Compensation - Units Granted (Details)	9 Months Ended
Share-Based Compensation - Units Granted (Details)	Oct. 28, 2023 $ / shares shares
Service Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Number of shares (in shares) \| shares	252,798
Options, Weighted average grant date fair value per Award (in usd per share)	$ 27.69
Options, Weighted average exercise price per Award (in usd per share)	$ 58.26
Service Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted units, Number of shares (in shares) \| shares	361,008
Restricted units, Weighted average grant date fair value per Award (in usd per share)	$ 60.32
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted units, Number of shares (in shares) \| shares	241,229
Restricted units, Weighted average grant date fair value per Award (in usd per share)	$ 58.03

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Subsequent Events	9 Months Ended
Subsequent Events	Oct. 28, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Our management evaluated events or transactions that occurred after October 28, 2023 through November 30, 2023, the issuance date of the consolidated financial statements, and identified the following matters to report: On November 29, 2023, the Company's Board of Directors declared a quarterly cash dividend with respect to the fiscal quarter ended October 28, 2023, of $0.09 per share of the Company's common stock, payable on January 10, 2024, to stockholders of record as of the close of business on December 13, 2023. On November 29, 2023, the Company's Board of Directors authorized a new share repurchase program under which the Company may purchase up to $600 million of its outstanding shares during the three-year period ending November 29, 2026 (the "2023 Share Repurchase Program"). Under the 2023 Share Repurchase Program repurchases can be made using a variety of methods, which may include open market purchases, block trades, accelerated share repurchase programs, privately negotiated transactions and/or a non-discretionary trading plan, all in compliance with the rules of the SEC and other applicable legal requirements. The timing, manner, price and amount of any common share repurchases under the 2023 Share Repurchase Program will be determined by the Company in its discretion and will depend on a variety of factors, including legal requirements, price and economic and market conditions. The 2023 Share Repurchase Program does not obligate the Company to acquire any particular number of common shares, and the program may be suspended, extended, modified or discontinued at any time. The total availability under the 2023 Share Repurchase Program and the 2022 Share Repurchase Program is $699.4 million.

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	Jun. 02, 2022	Sep. 02, 2021	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Accounting Policies [Abstract]
Share repurchase program, authorized amount	$ 600,000,000	$ 500,000,000
Share repurchase program, period in force	3 years	3 years
Liability associated with supplier finance programs			$ 6,900,000	$ 9,000,000	$ 6,800,000
2021 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program, remaining authorized amount			0
2022 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program, remaining authorized amount			$ 99,400,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Share-Based Compensation (Tables)

9 Months Ended

Oct. 28, 2023

Share-Based Payment Arrangement [Abstract]

Assumptions and Grant Date Fair Values for Options Granted

The following table presents the assumptions and grant date fair values for Service Options granted in the thirty-nine weeks ended October 28, 2023:


Expected life in years	6.0
Expected volatility	45.7% to 50.8%
Weighted-average volatility	47.9	%
Risk-free interest rate	3.7% to 4.4%
Dividend yield	0.6	%

Units Granted

The following table presents the Award grants during the thirty-nine weeks ended October 28, 2023:


	Service Options		Service Restricted Stock Units		Performance Restricted Stock Units
Number of shares	252,798		361,008		241,229
Weighted average grant date fair value per Award	$	27.69	$	60.32	$	58.03
Weighted average exercise price per Award	$	58.26	N/A		N/A

Unrecognized Compensation Cost

The following table presents the unrecognized compensation cost as of October 28, 2023:


	Service Options		Service Restricted Stock Units		Performance Restricted Stock Units
Remaining expense	$	12,716,241	$	21,479,241	$	10,017,247
Weighted average life remaining in years	2.2		2.2		2.2

Net Sales - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Disaggregation of Revenue [Line Items]
Net Sales	$ 1,397,777	$ 1,493,925	$ 4,364,463	$ 4,648,570
Customer Concentration Risk \| Revenue from Contract with Customer Benchmark \| E-Commerce
Disaggregation of Revenue [Line Items]
Percentage of sales	9.40%	9.50%	9.00%	9.70%
Total merchandise sales
Disaggregation of Revenue [Line Items]
Net Sales	$ 1,389,976	$ 1,485,464	$ 4,340,594	$ 4,622,201
Outdoors
Disaggregation of Revenue [Line Items]
Net Sales	440,330	472,961	1,261,700	1,423,496
Sports and recreation
Disaggregation of Revenue [Line Items]
Net Sales	266,870	274,315	1,000,154	1,028,786
Apparel
Disaggregation of Revenue [Line Items]
Net Sales	373,991	401,891	1,165,663	1,207,979
Footwear
Disaggregation of Revenue [Line Items]
Net Sales	308,785	336,297	913,077	961,940
Other sales
Disaggregation of Revenue [Line Items]
Net Sales	$ 7,801	$ 8,461	$ 23,869	$ 26,369

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 3,102	$ 2,004	$ 1,449
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	50,000,000	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0	0
Preferred stock, outstanding (in shares)	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized (in shares)	300,000,000	300,000,000	300,000,000
Common stock, issued (in shares)	74,143,759	76,711,720	77,959,530
Common stock, outstanding (in shares)	74,143,759	76,711,720	77,959,530

Property and Equipment (Tables)

9 Months Ended

Oct. 28, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following (amounts in thousands) as of:


	October 28, 2023		January 28, 2023		October 29, 2022
Leasehold improvements	$	542,698	$	484,930	$	476,670
Equipment and software	671,939		641,387		624,915
Furniture and fixtures	383,507		360,099		352,501
Construction in progress	63,563		23,159		37,267
Land	3,698		3,698		3,698
Total property and equipment	1,665,405		1,513,273		1,495,051
Accumulated depreciation and amortization	(1,235,757)		(1,161,849)		(1,141,037)
Property and equipment, net	$	429,648	$	351,424	$	354,014

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Debt Instrument [Line Items]
Total debt	$ 592,500	$ 594,750	$ 695,500
Less current maturities	(3,000)	(3,000)	(3,000)
Less unamortized discount on Term Loan	(1,124)	(1,340)	(2,135)
Less deferred loan costs	(5,012)	(5,954)	(7,562)
Long-term debt, net	583,364	584,456	682,803
Secured Debt \| Term Loan, due November 2027
Debt Instrument [Line Items]
Total debt	192,500	194,750	295,500
Senior Notes \| Notes, due November 2027
Debt Instrument [Line Items]
Total debt	400,000	400,000	400,000
Revolving Credit Facility \| ABL Facility, due November 2025
Debt Instrument [Line Items]
Total debt	$ 0	$ 0	$ 0

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Oct. 28, 2023
Accounting Policies [Abstract]
Basis of Presentation	These unaudited condensed consolidated financial statements include the accounts of ASO, Inc. and its subsidiaries, New Academy Holding Company, LLC ("NAHC"), Academy Managing Co., LLC, Associated Investors, LLC, Academy, Ltd., the Company's operating company, and Academy International Limited. NAHC, Academy Managing Co., LLC, and Associated Investors, LLC are intermediate holding companies.
Principles of Consolidation	All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates in the Preparation of Financial Statements	The preparation of financial statements in conformity with GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Our management bases its estimates on historical experience and other assumptions it believes to be reasonable under the circumstances. Actual results could differ significantly from those estimates. Our most significant estimates and assumptions that materially affect the financial statements involve difficult, subjective or complex judgments by management, including the valuation of merchandise inventories and performing goodwill, intangible and long-lived asset impairment analyses. Given the global economic climate, these estimates remain challenging, and actual results could differ materially from our estimates.
Supplier Finance Programs	In September 2022, the FASB issued ASU 2022-04: Liabilities - Supplier Finance Programs Disclosure of Supplier Finance Program Obligations. This pronouncement requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of the financial statements to understand the program's nature, activity during the period, changes from period to period and potential magnitude. The Company adopted the new guidance as of January 29, 2023.
Recent Accounting Pronouncements	Reference Rate Reform In March 2020, the FASB issued ASU 2020-04: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This pronouncement provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. In December 2022, the FASB issued ASU 2022-06 which extended the effectiveness of this guidance to December 31, 2024. The Company elected to utilize these optional expedients in connection with the amendments to our ABL Facility and Term Loan, which transitioned the facility from LIBOR to the Secured Overnight Financing Rate (“SOFR”) on March 30, 2023 and August 1, 2023, respectively (see Note 4).

Share-Based Compensation - Unrecognized Compensation Cost (Details)	Oct. 28, 2023 USD ($)
Service Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Remaining expense	$ 12,716,241
Weighted average life remaining in years	2 years 2 months 12 days
Service Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted units, Remaining expense	$ 21,479,241
Weighted average life remaining in years	2 years 2 months 12 days
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted units, Remaining expense	$ 10,017,247
Weighted average life remaining in years	2 years 2 months 12 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Accrued Expenses and Other Current Liabilities (Tables)

9 Months Ended

Oct. 28, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses and other current liabilities consist of the following (amounts in thousands) as of:


	October 28, 2023		January 28, 2023		October 29, 2022
Accrued interest	$	13,395	$	7,015	$	13,340
Accrued personnel costs	33,014		57,504		57,979
Accrued professional fees	1,417		3,943		1,762
Accrued sales and use tax	17,441		9,302		15,025
Accrued self-insurance	15,694		20,941		15,677
Deferred revenue - gift cards and other	74,171		92,603		69,727
Income taxes payable	2,128		6,195		5,848

Property taxes	48,160		15,921		46,806
Sales return allowance	5,200		6,100		6,100
Other	21,426		20,645		26,915
Accrued expenses and other current liabilities	$	232,046	$	240,169	$	259,179

Schedule of Other Current Liabilities

Accrued expenses and other current liabilities consist of the following (amounts in thousands) as of:


	October 28, 2023		January 28, 2023		October 29, 2022
Accrued interest	$	13,395	$	7,015	$	13,340
Accrued personnel costs	33,014		57,504		57,979
Accrued professional fees	1,417		3,943		1,762
Accrued sales and use tax	17,441		9,302		15,025
Accrued self-insurance	15,694		20,941		15,677
Deferred revenue - gift cards and other	74,171		92,603		69,727
Income taxes payable	2,128		6,195		5,848

Property taxes	48,160		15,921		46,806
Sales return allowance	5,200		6,100		6,100
Other	21,426		20,645		26,915
Accrued expenses and other current liabilities	$	232,046	$	240,169	$	259,179

Share-Based Compensation

9 Months Ended

Oct. 28, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

On September 29, 2020, the ASO, Inc. Board of Directors adopted the 2020 Omnibus Incentive Plan (the "2020 Omnibus Incentive Plan"), which became effective on October 1, 2020. The 2020 Omnibus Incentive Plan provides for the grant of certain equity incentive awards (each, an "Award"), such as options to purchase ASO, Inc. common stock (each, a "Stock Option") and restricted units that may settle in ASO, Inc. common stock (each, a "Restricted Stock Unit") to our directors, executives and eligible employees of the Company. Awards granted under the 2020 Omnibus Incentive Plan consist of Stock Options that vest upon the satisfaction of time-based requirements (each, a "Service Option"), Restricted Stock Units that vest upon the satisfaction of time-based requirements (each, a "Service Restricted Stock Unit") and Restricted Stock Units that vest upon the satisfaction of time and performance and/or market based requirements (each, a "Performance Restricted Stock Unit"). The plan reserved a total of 5,150,000 shares of common stock for issuance. On June 1, 2023, our stockholders approved the First Amendment to the 2020 Omnibus Incentive Plan, which, among other changes, increased the number of shares available for issuance thereunder by 2,600,000 shares. As of October 28, 2023, there were 4,256,743 shares that were authorized and available for future issuance under the 2020 Omnibus Incentive Plan.

On September 29, 2020, the ASO, Inc. Board of Directors adopted the 2020 Employee Stock Purchase Plan (the "ESPP"), which became effective on October 1, 2020. We have reserved a total of 2,000,000 shares under the ESPP and as of October 28, 2023, there were 1,650,543 shares authorized and available for future issuance under the ESPP.

Equity compensation expense was $6.2 million and $26.1 million for the thirteen and thirty-nine weeks ended October 28, 2023, respectively. Equity compensation expense was $5.8 million and $15.5 million for the thirteen and thirty-nine weeks ended October 29, 2022, respectively. These costs are included in selling, general and administrative expenses in the consolidated statements of income.

Service Option Fair Value Assumptions

The fair value for Service Options granted was estimated using a Black-Scholes option-pricing model. The expected lives of the Service Options granted were based on the "SEC simplified" method. Expected price volatility was determined based on a time-weighted average of the historical volatility for the Company and implied volatilities of comparable companies over a historical period that matches the expected life of the Award. The risk-free interest rate was based on the expected U.S. Treasury rate over the expected life. The dividend yield was calculated based on the most recent annualized quarterly dividend and the valuation date closing stock price. The assumptions used to calculate the fair value of Awards granted are evaluated and modified, as necessary, to reflect current market conditions and experience.

The following table presents the assumptions and grant date fair values for Service Options granted in the thirty-nine weeks ended October 28, 2023:


Expected life in years	6.0
Expected volatility	45.7% to 50.8%
Weighted-average volatility	47.9	%
Risk-free interest rate	3.7% to 4.4%
Dividend yield	0.6	%

The following table presents the Award grants during the thirty-nine weeks ended October 28, 2023:


	Service Options		Service Restricted Stock Units		Performance Restricted Stock Units
Number of shares	252,798		361,008		241,229
Weighted average grant date fair value per Award	$	27.69	$	60.32	$	58.03
Weighted average exercise price per Award	$	58.26	N/A		N/A

The following table presents the unrecognized compensation cost as of October 28, 2023:


	Service Options		Service Restricted Stock Units		Performance Restricted Stock Units
Remaining expense	$	12,716,241	$	21,479,241	$	10,017,247
Weighted average life remaining in years	2.2		2.2		2.2

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Oct. 28, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022	Oct. 28, 2023	Oct. 29, 2022
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 99,978	$ 157,075	$ 93,970	$ 131,741	$ 188,801	$ 149,806	$ 351,023	$ 470,348
Weighted average common shares outstanding - basic (in shares)	74,461			79,085			75,809	82,901
Weighted average common shares outstanding - diluted (in shares)	76,057			81,379			77,893	84,910
Earnings per common share - basic (in usd per share)	$ 1.34			$ 1.67			$ 4.63	$ 5.67
Earnings per common share - diluted (in usd per share)	$ 1.31			$ 1.62			$ 4.51	$ 5.54
Anti-dilutive stock-based awards excluded from diluted calculation (in shares)	253			7			135	59
Service Restricted Stock Units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock-based awards (in shares)	177			144			301	123
Performance Restricted Stock Units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock-based awards (in shares)	155			105			159	96
Service Options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock-based awards (in shares)	1,176			1,840			1,478	1,581
Performance Unit Options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock-based awards (in shares)	88			205			119	209
ESPP
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock-based awards (in shares)	0			0			27	0

Net Sales

9 Months Ended

Oct. 28, 2023

Revenue from Contract with Customer [Abstract]

Net Sales

Revenue from merchandise sales is recognized, net of sales tax, when the Company’s performance obligation to the customer is met, which is when the Company transfers control of the merchandise to the customer. Store merchandise sales are recognized at the point of sale and e-commerce sales are recognized upon delivery to the customer.

The following table sets forth the approximate amount of sales by merchandise divisions for the periods presented (amounts in thousands):


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Merchandise division sales (1)
Outdoors	$	440,330	$	472,961	$	1,261,700	$	1,423,496
Sports and recreation	266,870		274,315		1,000,154		1,028,786
Apparel	373,991		401,891		1,165,663		1,207,979
Footwear	308,785		336,297		913,077		961,940
Total merchandise sales (2)	1,389,976		1,485,464		4,340,594		4,622,201
Other sales (3)	7,801		8,461		23,869		26,369
Net Sales	$	1,397,777	$	1,493,925	$	4,364,463	$	4,648,570

(1) Certain products and categories were recategorized amongst various categories and divisions, respectively, to better align with our current merchandising strategy and view of the business. As a result, we have reclassified sales between divisions in the thirteen and thirty-nine weeks ended October 29, 2022, for comparability purposes. This reclassification is in divisional presentation only and did not impact the overall net sales balances previously disclosed (see Note 2).

(2) E-commerce sales consisted of 9.4% and 9.0% of merchandise sales for the thirteen and thirty-nine weeks ended October 28, 2023, respectively, and 9.5% and 9.7% for thirteen and thirty-nine weeks ended October 29, 2022, respectively.

(3) Other sales consisted primarily of the gift card breakage income, credit card bounties and royalties, shipping income, net hunting and fishing license income, sales return allowance and other items.

We sell gift cards in stores, online and in third-party retail locations. A liability for gift cards, which is recorded in accrued expenses and other liabilities on our consolidated balance sheets is established at the time of sale and revenues are recognized as the gift cards are redeemed in stores or on our website.

The following is a reconciliation of the gift card liability (amounts in thousands):


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Gift card liability, beginning balance	$	74,750	$	69,959	$	90,650	$	86,568
Issued	18,855		18,288		61,968		63,164
Redeemed	(20,835)		(21,023)		(77,626)		(80,668)
Recognized as breakage income	(921)		(680)		(3,143)		(2,520)
Gift card liability, ending balance	$	71,849	$	66,544	$	71,849	$	66,544

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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+ Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022	Jan. 28, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 1,665,405	$ 1,495,051	$ 1,665,405	$ 1,495,051	$ 1,513,273
Accumulated depreciation and amortization	(1,235,757)	(1,141,037)	(1,235,757)	(1,141,037)	(1,161,849)
Property and equipment, net	429,648	354,014	429,648	354,014	351,424
Depreciation expense	27,400	27,000	79,400	78,900
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	542,698	476,670	542,698	476,670	484,930
Equipment and software
Property, Plant and Equipment [Line Items]
Total property and equipment	671,939	624,915	671,939	624,915	641,387
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	383,507	352,501	383,507	352,501	360,099
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	63,563	37,267	63,563	37,267	23,159
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3,698	$ 3,698	$ 3,698	$ 3,698	$ 3,698

Cover - shares	9 Months Ended
Cover - shares	Oct. 28, 2023	Nov. 22, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 28, 2023
Document Transition Report	false
Entity File Number	001-39589
Entity Registrant Name	Academy Sports and Outdoors, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1800912
Entity Address, Address Line One	1800 North Mason Road
Entity Address, City or Town	Katy
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77449
City Area Code	281
Local Phone Number	646-5200
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ASO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		74,151,384
Entity Central Index Key	0001817358
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--02-03

Nature of Operations (Details)	Oct. 28, 2023 location state distributionCenter
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of retail locations \| location	275
Number of states \| state	18
Number of distribution centers \| distributionCenter	3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Payables and Accruals [Abstract]
Accrued interest	$ 13,395	$ 7,015	$ 13,340
Accrued personnel costs	33,014	57,504	57,979
Accrued professional fees	1,417	3,943	1,762
Accrued sales and use tax	17,441	9,302	15,025
Accrued self-insurance	15,694	20,941	15,677
Deferred revenue - gift cards and other	74,171	92,603	69,727
Income taxes payable	2,128	6,195	5,848
Property taxes	48,160	15,921	46,806
Sales return allowance	5,200	6,100	6,100
Other	21,426	20,645	26,915
Accrued expenses and other current liabilities	$ 232,046	$ 240,169	$ 259,179

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022	Oct. 28, 2023	Oct. 29, 2022
Pay vs Performance Disclosure
Net income	$ 99,978	$ 157,075	$ 93,970	$ 131,741	$ 188,801	$ 149,806	$ 351,023	$ 470,348

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Net Sales (Tables)

9 Months Ended

Oct. 28, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table sets forth the approximate amount of sales by merchandise divisions for the periods presented (amounts in thousands):


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Merchandise division sales (1)
Outdoors	$	440,330	$	472,961	$	1,261,700	$	1,423,496
Sports and recreation	266,870		274,315		1,000,154		1,028,786
Apparel	373,991		401,891		1,165,663		1,207,979
Footwear	308,785		336,297		913,077		961,940
Total merchandise sales (2)	1,389,976		1,485,464		4,340,594		4,622,201
Other sales (3)	7,801		8,461		23,869		26,369
Net Sales	$	1,397,777	$	1,493,925	$	4,364,463	$	4,648,570

Reconciliation of Gift Card Liability

The following is a reconciliation of the gift card liability (amounts in thousands):


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Gift card liability, beginning balance	$	74,750	$	69,959	$	90,650	$	86,568
Issued	18,855		18,288		61,968		63,164
Redeemed	(20,835)		(21,023)		(77,626)		(80,668)
Recognized as breakage income	(921)		(680)		(3,143)		(2,520)
Gift card liability, ending balance	$	71,849	$	66,544	$	71,849	$	66,544

Share-Based Compensation - Assumptions and Grant Date Fair Values for Options Granted (Details) - Service Options	9 Months Ended
	Oct. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life in years	6 years
Expected volatility, minimum	45.70%
Expected volatility, maximum	50.80%
Weighted-average volatility	47.90%
Risk-free interest rate, minimum	3.70%
Risk-free interest rate, maximum	4.40%
Dividend yield	0.60%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Income Statement [Abstract]
NET SALES	$ 1,397,777	$ 1,493,925	$ 4,364,463	$ 4,648,570
COST OF GOODS SOLD	915,136	971,454	2,851,261	3,008,612
GROSS MARGIN	482,641	522,471	1,513,202	1,639,958
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	345,910	342,949	1,039,312	998,209
OPERATING INCOME	136,731	179,522	473,890	641,749
INTEREST EXPENSE, NET	10,930	12,163	33,473	34,240
OTHER (INCOME), NET	(4,146)	(2,538)	(11,482)	(4,676)
INCOME BEFORE INCOME TAXES	129,947	169,897	451,899	612,185
INCOME TAX EXPENSE	29,969	38,156	100,876	141,837
NET INCOME	$ 99,978	$ 131,741	$ 351,023	$ 470,348
EARNINGS PER COMMON SHARE:
BASIC (in dollars per share)	$ 1.34	$ 1.67	$ 4.63	$ 5.67
DILUTED (in dollars per share)	$ 1.31	$ 1.62	$ 4.51	$ 5.54
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
BASIC (in shares)	74,461	79,085	75,809	82,901
DILUTED (in shares)	76,057	81,379	77,893	84,910