Boot Barn Holdings, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ending April 1, 2023
January 25, 2023 at 09:10 pm
Share
Boot Barn Holdings, Inc. provided earnings guidance for the fourth quarter and full year ending April 1, 2023. For the fourth quarter, the company expects total sales of $438 million to $448 million, representing growth of 14.4% to 17.0% over the prior year. same store sales range of approximately (3.0)% to (0.5)%, with retail store same store sales of flat to 2.0% growth and e-commerce same store sales of (20.0)% to (16.0)%. Income from operations between $59 million and $63 million. This represents approximately 13.5% to 14.0% of sales. Net income per diluted share of $1.42 to $1.51 based on 30.4 million weighted average diluted shares outstanding.
For the year, the company expects total sales of $1.67 billion to $1.68 billion, representing growth of 12.2% to 12.9% over the prior year. Same store sales range of approximately 0.5% to 1.0%, with retail store same store sales of approximately 2.5% to 3.0% and e-commerce same store sales of (10.5)% to (9.5)%. Income from operations between $228 million and $232 million. This represents approximately 13.7% to 13.8% of sales. Net income of $167.2 million to $170.0 million. Net income per diluted share of $5.51 to $5.60 based on 30.4 million weighted average diluted shares outstanding. Fiscal year 2023 is a 53-week year and the Company expects to generate approximately $34.0 million of sales and earn approximately $0.19 per diluted share in the 53rd week, which is included in the above guidance range.
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.