Boot Barn Holdings, Inc. Provides Earnings Guidance for the Fiscal First Quarter Ending June 25, 2022 and Fiscal Year Ending April 1, 2023
May 10, 2022 at 04:12 pm EDT
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Boot Barn Holdings, Inc. provided earnings guidance for the fiscal first quarter ending June 25, 2022 and fiscal year ending April 1, 2023. For the fiscal first quarter ending June 25, 2022, the Company expects: Same store sales growth of 10%; Total sales of $367 million; Income from operations of $47 million or 12.8% of sales; and Net income per diluted share of $1.14 based on 30.5 million weighted average diluted shares outstanding.
For the fiscal year ending April 1, 2023 the Company expects: Same store sales growth of 4.8%; Total sales of $1.740 billion; Income from operations of $266 million or 15.3% of sales; Net income of $197 million; Net income per diluted share of $6.41 based on 30.7 million weighted average diluted shares outstanding; and Fiscal year 2023 is a 53-week year and the Company expects to generate approximately $34 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 345 stores in 43 states.