Academy Sports Launches myAcademy Rewards Credit Card
Academy Sports + Outdoors (ASO) announced the national rollout of the new myAcademy Rewards Mastercard (MA) Credit Card, and enhanced myAcademy Rewards program, part of a reimagined payments and loyalty portfolio developed in partnership with Bread Financial (BFH). The refreshed myAcademy Rewards program delivers value to every member whether they shop in-store, online, or on the Academy app. Academy is reenvisioning loyalty by placing the new myAcademy Rewards Mastercard at the center of the program-transforming the card into the primary way members earn rewards for their everyday purchases. Cardholders earn 5% off every day at Academy and an unlimited 2% in rewards on everyday purchases, with rewards deposited directly into their myAcademy Rewards account on Academy.com or in the Academy app.
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- Liquidation Transaction: Alamar Capital Management disclosed on May 13 that it sold all 51,636 shares of Academy Sports and Outdoors, valued at approximately $2.6 million, indicating a complete exit from the position and reflecting a cautious outlook on the company's future performance.
- Position Size Change: The liquidation means that Academy Sports no longer constitutes 1.4% of Alamar's assets under management (AUM), which stood at $189.2 million as of the previous quarter, highlighting a reevaluation of the investment portfolio.
- Declining Performance: Academy Sports reported a 1.5% drop in same-store sales for the latest fiscal year, including a 1.6% decline in Q4, with management projecting a 1% decrease to a 2% increase in comps this year, indicating heightened macroeconomic pressures and investor caution regarding future performance.
- Underwhelming Market Returns: As of May 13, Academy Sports' stock returned 11.4%, significantly trailing the S&P 500 index's 28.2%, suggesting underperformance in the market that could impact investor confidence and future capital inflows.
- Private Offering Scale: Academy Sports and its wholly-owned subsidiary, Academy, Ltd., successfully priced a $500 million offering of 5.875% senior secured notes, expected to close on May 14, 2026, demonstrating the company's financing capability and market confidence.
- Clear Use of Proceeds: The net proceeds from this offering will be used to redeem all outstanding senior secured notes due 2027, repay loans, and for general corporate purposes, indicating the company's strategic intent to optimize its capital structure and reduce financial costs.
- Robust Guarantee Structure: The notes will be secured by certain subsidiaries of Academy, providing senior guarantees and a first-priority lien on nearly all personal property, enhancing investor confidence in the security of the notes.
- Compliance and Market Positioning: The notes are not registered under the Securities Act and are offered only to qualified institutional buyers and non-U.S. persons, reflecting Academy's commitment to regulatory compliance while actively expanding its international market presence.
- Offering Size: Academy Sports + Outdoors announced the pricing of $500 million in 5.875% senior secured notes through its wholly owned subsidiary, with the offering expected to close on May 14, 2026, thereby strengthening its capital structure.
- Use of Proceeds: The net proceeds from this offering will be utilized to redeem all outstanding senior secured notes due 2027, repay all amounts under its term loan facility, and cover related fees and expenses, optimizing the company's financial position.
- Strategic Implications: By redeeming high-cost debt early, Academy Sports aims to reduce interest expenses and enhance financial flexibility, further supporting its long-term growth strategy and operational efficiency.
- Market Confidence: This notes offering reflects market confidence in Academy Sports' financial health and is expected to help the company capitalize on opportunities during the upcoming 2026 World Cup.

Financial Offering: The Academy Sports and Outdoors has announced a private offering of $500 million in senior secured notes.
Interest Rate: The notes will carry an interest rate of 5.875% and are due in 2031.
- Announcement of Senior Secured Notes: Academy Sports + Outdoors has announced the pricing of its senior secured notes.
- Financial Details: The notes are part of a financing strategy aimed at optimizing the company's capital structure.










