Retailer Academy Sports and Outdoors sets IPO range at $15-$17

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Academy Sports and Outdoors late Wednesday set its initial public offering terms, hoping to sell 15.625 million shares between $15 and $17 a share. The Texas-based sporting goods and recreation retailer would become a public company amid difficult times for the retail industry, beset by recent bankruptcies and competition with online-only retailers. Academy Sports and Outdoors has applied for listing on the Nasdaq, with underwriters including Credit Suisse, J.P. Morgan, and BofA Securities. 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.
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