Can Hoka be a $100 Million Brand for Academy?

September 29, 2026

Hoka launches at Academy Sports + Outdoors later this week, and that could be the start of something big for the outdoor sports retailer.

How big? Jefferies hardlines analyst Jonathan Matuszewski said Tuesday that Hoka could become a $100 million plus brand by 2030 for the outdoor retailer.

“Assuming a successful pilot, our bottom-up analysis points to a credible path for Hoka to scale from an initial 15-store launch into a broader fleet rollout,” Matuszewski said.

The pilot commences online and at stores across Arkansas, Georgia, Louisiana and Texas. The analyst said Hoka is one of the most requested brands among Academy customers. He also noted that the brand can drive incremental traffic, attract new shoppers and lift average selling price at the retailer due to its premium positioning, although that could come at the expense of existing brands, such as Nike, Brooks and Asics. WOMEN’S WEAR DAILY