Academy Sports Taps Sumit Anand as Chief Information Officer
Academy Sports and Outdoors has named Sumit Anand as executive vice president and chief information officer.
According to the Katy, Texas-based retailer, Anand will oversee all enterprise technology operations including cybersecurity, IT infrastructure and operations, and IT shared services supporting the company’s corporate, distribution center, and retail initiatives. He reports directly to Steve Lawrence, chief executive officer of the company.
Prior to joining the company, Anand served in a variety of executive roles for At Home, based in Dallas, including chief information officer and head of strategy and was previously senior vice president of business and technology transformation at Signet Jewelers as well as holding leadership roles with Accenture.
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Anand’s appointment comes just months after the company narrowed its fiscal 2024 guidance after experiencing some challenges in the month of October.
In December, Academy Sports reported that net sales decreased 3.9 percent in the third quarter to $1.343 billion, down from $1.397 billion the same time last year. Net income in the period was $65.8 million, a 34.2 percent decline from $100 million in Q3 2023.
Lawrence told analysts on the company’s earnings call that the declines seen in Q3 were due to some unseasonably warm temperatures, which persisted throughout the entire month of October across its footprint.
Looking ahead, the company is narrowing its guidance for fiscal 2024. As such, Academy now expects net sales for the year between $5.89 billion to $5.94 billion, which ranges from a 4.3 percent loss to a 3.6 percent loss for the year.
Academy Sports will release its fourth quarter earnings on March 20.
