Boot Barn Q3 2020 Earnings Report
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.
Boot Barn
Boot Barn
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.