The partnership will focus on enhancing the assortment of officially licensed merchandise available to Academy customers both in-store and online.

Through this arrangement, shoppers will have access to a wider breadth of fan shop products that are new to Academy.

It will provide Academy the chance to tap into Fanatics' licensed sports inventory to give shoppers broader selection of fan apparel, jerseys, headwear, and novelty items for the whole family from portfolio brands.

"By teaming up with Fanatics, our customers will be able to browse an even wider assortment to make sure every member of the family has the gear they want at the right price," said Chief Merchandising Officer Matt McCabe.

Price Action: ASO shares are trading higher by 0.72% at $50.13 on the last check Wednesday.