Investing.com -- Academy Sports and Outdoors raised the low end of its fiscal 2026 guidance on Tuesday after reporting higher first-quarter results, driven by higher customer traffic, larger transaction sizes and robust e-commerce demand.

The sporting goods retailer posted first-quarter net sales of $1.44 billion, up 6.7% from a year earlier, while comparable sales rose 2.9%, reversing a 3.7% decline in the prior-year period. E-commerce sales also increased 17.4%, and stores opened within the past year delivered positive high-single-digit comparable sales growth.

Net income rose 14.3% to $52.7 million, while diluted earnings per share increased 17.6% to $0.80. Adjusted earnings per share climbed 22.4% to $0.93.

“Based on our Q1 performance, we are raising the low end of our full-year guidance. While we expect inflationary pressures to continue impacting consumer spending for the remainder of the year, our goal is to build on the momentum in our business. We plan to accomplish this by methodically executing against our long-range strategies as we continue to offer customers compelling assortments at outstanding values," said Steve Lawrence, Chief Executive Officer at Academy Sports.

For fiscal 2026, Academy raised the low end of its net sales forecast to $6.23 billion from $6.18 billion previously, while maintaining the top end at $6.36 billion. The company also increased its earnings outlook, now expecting diluted earnings per share of $5.95 to $6.35, compared with prior guidance of $5.65 to $6.15. Adjusted EPS is projected at $6.40 to $6.80.

Chief Financial Officer Carl Ford said the updated outlook reflects confidence in the company’s strategy, while still assuming consumers will remain under pressure throughout 2026.

Academy opened two new stores during the quarter, bringing its total store count to 324. The retailer plans to open three additional stores in the second quarter and another 15 to 20 locations in the second half of the fiscal year.

The company ended the quarter with $337.8 million in cash and repurchased about $99 million of stock while paying $9.6 million in dividends.