Dive Brief:
- Academy Sports and Outdoors has named Sumit Anand as its chief information officer, the sporting goods retailer announced Thursday. Anand joined the retailer in March.
- In his new role, Anand manages the company’s enterprise tech operations, including its IT infrastructure, cybersecurity and shared IT services that support the company’s corporate, distribution center and retail initiatives. He reports to CEO Steve Lawrence, the company said.
- Anand previously served as the CIO and head of strategy at At Home as well as senior vice president of business and technology transformation at Signet Jewelers.
Dive Insight:
Academy Sports and Outdoors continues to add new faces to its C-suite. Last year, the sporting goods retailer hired Chad Fox to serve as its chief customer officer, a newly created position putting him in charge of the company’s marketing, customer care and customer insights functions. That same month, the company appointed Robert Howell as its chief supply chain officer.
Anand’s hiring comes as the company plots an ambitious store expansion. Last March, the company said it plans to open between 160 and 180 new stores over the next five years, and sees the potential to have a national presence of over 800 locations. The retailer wants to open stores in new and existing markets, but it is keenly focused on smaller and mid-sized markets with lower volume but potentially higher profitability.
As Academy Sports and Outdoors grows its brick-and-mortar footprint, the retailer is integrating more products from a major brand: Nike. At the end of last year, Lawrence said the company would introduce full assortments of Nike footwear, accessories, sporting goods and apparel in more than 140 stores in the first quarter of 2025.
In its most recent quarter, the retailer saw net sales decline by 3.9% from the previous year to $1.34 billion, while comparable sales dropped nearly 5% year over year. Net income fell by over 34% to $65.7 million. Academy Sports and Outdoors will announce its fourth quarter and fiscal 2024 results on March 20.
