shares of academy sports  outdoors inc aso rallied 54 in premarket trading tuesday after the sporting goods and outdoor recreation retailers betterthanexpected fiscal firstquarter profit net sales and samestore sales offset a reduced fullyear outlook to reflect macroeconomic challenges net income for the quarter to april 30 fell to 1498 million or 169 a share from 1778 million or 184 a share in the yearago period excluding nonrecurring items adjusted earnings per share of 173 was well above the factset consensus of 145 net sales declined 71 to 147 billion just above the factset consensus of 145 billion as the samestore sales drop of 75 beat expectations of a 93 decline gross margin contracted to 355 from 357 as increased merchandise margin and a decrease in freight costs were offset by a rise in inventory and ecommerce shipping costs for fiscal 2022 the company revised lower its guidance ranges for adjusted eps to 655 to 725 from 670 to 725 for sales to 643 billion to 663 billion from 656 billion to 677 billion and for samestore sales to down 6 to down 3 from down 4 to down 1 the stock has shot up 188 over the past three months through monday while the sp 500 spx has slipped 19