Academy Sports + Outdoors

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Academy Sports and Outdoors, Inc.
TypePublic company
IndustryRetail
Founded1938; 84 years ago (1938) in San Antonio, Texas, U.S.
HeadquartersUnincorporated Harris County (near Katy, Texas, U.S.)[1]
Number of locations
260[2] (2020)
Areas served
Alabama, Arkansas, Florida, Georgia, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee, Illinois, Texas, Virginia
Key people
Max & Arthur Gochman, Founder[3][4]
Ken Hicks, CEO & President
ProductsSports equipment
RevenueIncrease US$4.9 billion (2019)
Number of employees
17,000 (2011)
Websiteacademy.com

Academy Sports + Outdoors is an American sporting goods store chain. It has corporate offices in the Katy Distribution Center in unincorporated western Harris County, Texas, United States, near Katy and west of Houston. For 74 years it was a privately held company owned by the Gochman family, until its May 2011 acquisition by KKR. In October 2020 it was listed on the Nasdaq.

History[edit]

Academy Sports + Outdoors came into existence in 1938,[5] when Arthur Gochman and his business partner purchased Southern Sales, a San Antonio based Army-Navy surplus chain comprising six stores that were by that year no longer making any profit. At the time, Gochman was a practicing attorney in San Antonio. He had not been formally educated as a businessman, but he had learned much about the surplus retail business from his father, Max Gochman, who had owned a surplus goods outlet in San Antonio and in 1935 still owned and operated a small chain of stores in Austin.

1970s[edit]

Gochman bought out his partner in 1973 and changed the company's business name from Southern Sales to Academy Corp. The Academy name was borrowed from his father's stores. It came from a now-defunct San Antonio Catholic school named St. Henry's Academy. Max Gochman had opened his first store across the street from the school in the 1930s, selling pre World War II surplus goods. Later, when he moved to Austin, he used the name for his four army-navy surplus stores. Because many University of Texas students and graduates lived in the Houston area and were familiar with the Austin stores, Max Gochman permitted his son to use the name, knowing that it would help his son's business. In 1978, the younger Gochman gave up his law practice and moved to Houston to assume active control of the company and complete the overhaul of its basic merchandising policies.

The chain grew from eight stores in 1980 to 12 in 1985.[citation needed]

By 1990 the company was selling more cowboy boots than any other chain in the United States.[citation needed]

By the end of the 1980s Academy had become a popular Texas chain. Among other things, its outlets sold more state fishing licenses than its chief competitor, Oshman's Sporting Goods, or any other group of stores in the state.[citation needed]

1990–2010[edit]

Academy Sports Outdoors, Valdosta

By 1990 Academy had grown to 18 stores. It also began a period of more rapid expansion, jumping to 34 stores by 1995, the year after it first moved into two adjoining states. It opened its first store outside Texas in Edmond, Oklahoma in June 1994, then added a store in Lafayette, Louisiana the following November, thus ending the company's exclusive Texas identity.

Academy's roots remain in Texas, though, and the epicenter of the company's business always has been the greater Houston area. Almost half of its stores are located there, as are the company headquarters and its distribution facility. As it has expanded beyond its home base, Academy has sought "hot-market" locales, places that from market analysis offered the promise of high-volume sales. The result has been that it has never had to close one of its new stores, all of which have been profitable since their first day of operation.

David Gochman -- the founder's son, a Chinese-studies graduate from Harvard, and also a University of Texas law school graduate -- joined Academy in 1995 on a full-time basis. By that time his father, then 65, had built Academy into a $350 million retail chain and was ready to turn control of the business over to his 30-year-old son. David Gochman initially served as vice-president of store operations and general counsel, but in the following year he succeeded his father as Academy's chairman, president, and CEO.[6]

In 1999, it had 35 stores in Texas, three in Oklahoma, two in Alabama, three in Louisiana, and one in Florida. The majority of these were "superstores," ranging from 35,000 to 100,000 square feet in size.

Acquisition by KKR[edit]

In 2011, Academy Sports + Outdoors was acquired by KKR.[7] Just months after acquisition, the brand launched an e-commerce store and became a multi-channel retailer.[8]

Under KKR, the company hired Ken Hicks as CEO. Soon after, it introduced the first company branded credit card. In 2019, the first "next gen" store opened in Richmond, Texas.[9]

IPO and further growth[edit]

On October 2020, Academy launched an IPO and became a public company listed on the Nasdaq with the ticker symbol ASO.[10] After going public, a continued national expansion plan was laid out calling for 8-10 stores per year starting in 2022. Shares originally stood below $13 but eventually rose to $40 by June 2021.[11] After its first public year, Academy debuted on the Fortune 500 list of 2021.[12]

Sponsorships[edit]

Academy owns the naming rights to the Bassmaster Classic (officially referred to the Academy Sports + Outdoors Bassmaster Classic).[13]

It is also the official sporting retailer of the NCAA SEC and the Big 12 Conference.[14] The Houston Astros, Kansas City Royals and Houston Texans also hold strong partnerships with the store.

References[edit]

  1. ^ Lindsay Peyton (September 17, 2018). "Big Business: Corporations build headquarters in Katy". Houston Chronicle. Retrieved October 13, 2018.
  2. ^ "Our History - ASO".
  3. ^ Turner, Allan (26 October 2010). "Arthur Gochman of Academy Sports dies at 79". HOUSTON CHRONICLE. Retrieved 17 April 2014.
  4. ^ "Academy Sports & Outdoors History". Funding Universe. Retrieved 17 April 2014.
  5. ^ "America's Largest Private Companies:#226 Academy Sports & Outdoors". Forbes. November 8, 2007. Archived from the original on November 12, 2007.
  6. ^ "History of Academy Sports & Outdoors – FundingUniverse".
  7. ^ Collin Eaton (May 31, 2011). "KKR to buy big stake in Texas-based sporting goods chain Academy". The Dallas Morning News. Retrieved October 13, 2018.
  8. ^ Danica Patrick (May 31, 2011). "Academy Sports + Outdoors Becomes a Multi-Channel Retailer with the Launch of its eCommerce Website". PR Newswire.
  9. ^ "Academy Sports launches new app, sees Big Plans moving forward". H-Town Connection. August 3, 2021.
  10. ^ Chibuike Oguh (May 31, 2011). "KKR-backed Academy Sports and Outdoors raises $203 million in IPO - source". PR Newswire. Retrieved October 1, 2020.
  11. ^ BNK Invest (June 15, 2021). "Noteworthy Tuesday Option Activity: RAPT, ASO, SCCO". Nasdaq.
  12. ^ "Academy Sports and Outdoors Company Profile". Fortune.
  13. ^ PR Newswire (October 16, 2020). "Academy Sports + Outdoors Reels in Title Sponsorship of the 50th Bassmaster Classic in 2020". PR Newswire.
  14. ^ "Big 12 and Academy Sports + Outdoors Announce Multi-Year Partnership". Big 12. May 11, 2020.

External links[edit]