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Dec 25, 2021
Boot Barn Q3 2022 Earnings Report
Reported strong financial results driven by increased sales and margin expansion.
Key Takeaways
Boot Barn Holdings, Inc. reported a significant increase in net sales, gross profit, and net income for the third quarter of fiscal year 2022. Net sales increased by 60.7% compared to the prior-year period, driven by a 54.2% increase in consolidated same-store sales. The company's net income also saw a substantial rise, reaching $69.2 million, or $2.27 per diluted share.
Net sales increased 60.7% to $485.9 million compared to the prior-year period.
Consolidated same store sales increased 54.2% with retail store same store sales up 55.7% and e-commerce same store sales up 48.4%.
Gross profit was $191.7 million, or 39.4% of net sales, compared to $106.8 million, or 35.3% of net sales, in the prior-year period.
Net income was $69.2 million, or $2.27 per diluted share, compared to a net income of $29.6 million, or $1.00 per diluted share in the prior-year period.
Forward Guidance
The Company provides the following full-year fiscal 2022 guidance: New unit growth of 10%. Exclusive brand penetration growth of 450 basis points compared to full-year fiscal 2021. Effective tax rate for the fourth quarter of 25.4%. Capital expenditures between $41.0 to $43.0 million.
Positive Outlook
- New unit growth of 10%.
- Exclusive brand penetration growth of 450 basis points compared to full-year fiscal 2021.
- Effective tax rate for the fourth quarter of 25.4%.
- Capital expenditures between $41.0 to $43.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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