Academy Sports and Outdoors has filed to go public

/ / News

While one retailer (Century 21) is closing its stores, another has filed to go public. Academy Sports and Outdoors Inc. filed Wednesday afternoon for an initial public offering, but has yet to determine the number of shares it will offer and the expecting pricing. The Texas-based sporting goods and outdoor recreation retailer has applied for listing on the Nasdaq under the ticker symbol “ASO.” The lead underwriters of the IPO are Credit Suisse, J.P. Morgan, KKR and BofA Securities. Affiliates of KKR &Co. own more than 10% of Academy Sports’ shares. For the six months ended Aug. 1, the company recorded net income of $157.7 million on revenue of $2.74 billion, after net income of $73.8 million on revenue of $2.31 billion in the same period a year ago. The company is looking to go public at a time that the SPDR S&P Retail ETF has run up 19.2% over the past three months, while the Renaissance IPO ETF has rallied 26.0% and the S&P 500 has gained 6.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.