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Dec 28, 2019
Boot Barn Q3 2020 Earnings Report
Boot Barn's financial performance surged in Q3 2020, marked by robust sales growth and enhanced profitability.
Key Takeaways
Boot Barn Holdings, Inc. reported an 11.8% increase in net sales, reaching $284.0 million. Same store sales grew by 6.7%, and net income increased to $24.8 million, or $0.85 per diluted share. The company also increased its annual guidance for fiscal year 2020.
Net sales increased by 11.8% to $284.0 million.
Same store sales increased by 6.7%, driven by both retail and e-commerce growth.
Net income reached $24.8 million, or $0.85 per diluted share.
The company opened three new stores during the quarter, progressing towards its annual target of 10% unit growth.
Forward Guidance
For fiscal year 2020, Boot Barn expects to open or acquire 25 stores, achieve same store sales growth of approximately 7.0%, income from operations between $81.7 million and $82.3 million, and net income per diluted share of $1.81 to $1.83. For the fiscal fourth quarter ending March 28, 2020, the Company expects same store sales growth of approximately 5.0%, total sales of $212.0 million to $214.0 million, and net income per diluted share of $0.36 to $0.38.
Positive Outlook
- Opening or acquiring 25 stores.
- Same store sales growth of approximately 7.0%.
- Income from operations of $81.7 million to $82.3 million.
- Net income of $53.1 million to $53.5 million.
- Net income per diluted share of $1.81 to $1.83.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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