Academy Sports and Outdoors (NASDAQ:ASO) has released its financial results for the first quarter of 2024. 

The company experienced a net sales decline of 1.4% and a 5.7% drop in comparable sales.

Despite the sales downturn, Academy Sports and Outdoors reported a GAAP diluted earnings per share (EPS) of $1.01, with an adjusted EPS of $1.08.

During the quarter, the company expanded its retail footprint by opening two new stores.

Additionally, it demonstrated a strong commitment to shareholder returns by distributing $132 million through share repurchases and dividends.

Following the quarter's performance, the company declared a quarterly cash dividend of $0.11 per share, which is scheduled to be paid on July 18, 2024.