Boot Barn Holdings, Inc. Provides Earnings Guidance for the Fiscal First Quarter Ending June 29, 2024 and for the Fiscal Year Ending March 29, 2025
May 13, 2024
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Boot Barn Holdings, Inc. provided earnings guidance for the fiscal first quarter ending June 29, 2024 and for the fiscal year ending March 29, 2025. For the fiscal first quarter ending June 29, 2024, the Company expects: Total sales of $399 million to $407 million, representing growth of 4.0% to 6.1% over the prior-year period. Same store sales decline of approximately (4.5)% to (2.5)%, with retail store same store sales declines of (5.0)% to (3.0)% and e-commerce same store sales growth of flat to 2.0%. Income from operations between $38.7 million and $41.2 million, or approximately 9.7% to 10.1% of sales. Net income per diluted share of $0.94 to $1.00 based on 30.7 million weighted average diluted shares outstanding.
For the fiscal year ending March 29, 2025 the Company expects: Total sales of $1.766 billion to $1.800 billion, representing growth of 5.9% to 8.0% over the prior year. Same store sales decline of approximately (3.6)% to (1.6)%, with retail store same store sales declines of approximately (4.0)% to (2.0)% and e-commerce same store sales declines of (0.5)% to growth of 2.0%. Income from operations between $188.3 million and $200.7 million, or approximately 10.7% to 11.2% of sales. Net income of $140.2 million to $149.3 million. Net income per diluted share of $4.55 to $4.85 based on 30.8 million weighted average diluted shares outstanding.
Boot Barn Holdings, Inc. is a lifestyle retailer of western and work-related footwear, apparel, and accessories in the United States. The Company operates through two segments: retail stores and e-commerce. The retail segment is a specialty retail store that sells western and work boots and related apparel and accessories. Its e-commerce segment sells its merchandise via the Internet. The Company carries an assortment of denim, western shirts, cowboy hats, belts and belt buckles, western-style jewelry, and accessories. The western assortment includes various brands, such as Ariat, Cinch, Cody James, Corral, Dan Post, Durango, El Dorado, Idyllwind, Justin, Laredo, Lucchese, Miss Me, Montana Silversmiths, Moonshine Spirit, Shyanne, Stetson, Tony Lama, Twisted X, Resistol and Wrangler. The work assortment includes rugged footwear, outerwear, overalls, denim, and shirts. Its other brand includes Dickies, Carhartt, Wolverine, and Hawx. It operates approximately 403 stores in 45 states.