Some new chick came in and cleaned house because the top guy didn't have the balls.
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Unfortunately Academy is very dependent on the oil and gas markets and their competitors are not. The company has been declining since early this year. They get to hide it all being privately held, but it also means trying to go public is delayed even further. They have also been slowly replacing most of their senior management over the last year. With the management in place they have been quietly laying off 20-30 at a time in the corporate office and they have more lay offs planned. Their number one competitor is moving right into their back yard this month, which will disrupt sales even further.