Academy Sports + Outdoors
Sub-investment grade (S&P BB issuer rating) Sun Belt sporting-goods retailer expanding to new states with ~20+ openings a year. Big-box freestanding leases have solid terms but backfill risk is high.
- US units
- 327
- Q2 2026
- 3Y net growth
- +22.0%
- vs. FY2022
- Credit rating
- BB
- Sub-investment grade
- Typical term
- 15 yr
- NNN
- Model
- Corporate
- Public
Unit count
Academy Sports + Outdoors in the news
All news →No tagged headlines in the last three weeks.
Academy Sports + Outdoors net lease FAQ
What is Academy Sports + Outdoors's credit rating?
Academy Sports + Outdoors is rated BB, which is below investment grade. Check the lease to confirm whether the rated entity is the actual guarantor.
How many Academy Sports + Outdoors locations are there in the US?
Academy Sports + Outdoors reported about 327 US locations as of Q2 2026. That is +22.0% versus 268 in FY2022.
What does a typical Academy Sports + Outdoors net lease look like?
Lease type: NNN. Initial term: 15 yr. Rent increases: 5-10% every 5 yr. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Academy Sports + Outdoors corporate or franchised?
Operating model: Corporate. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.