Boot Barn Holdings, Inc. Announces Preliminary Third Quarter Results that Beat Sales & EPS Guidance & Participation in the 20...
January 11 2019 - 4:10PM
Business Wire
Boot Barn Holdings, Inc. (NYSE:BOOT) today announced preliminary
results for the third quarter of fiscal year 2019 ended December
29, 2018 in advance of its participation in the ICR Conference on
Monday, January 14, 2019.
Preliminary Results for the Third Quarter of Fiscal Year
2019
For the third quarter ended December 29, 2018, the Company
expects to report:
- Net sales increased 13% to
approximately $254 million.
- Same store sales increased
approximately 9.2%, with double-digit growth in e-commerce and high
single digit growth in retail stores. This compares with third
quarter guidance of 5.0% to 7.0%.
- Net income per diluted share of
approximately $0.66 based on 28.9 million weighted average diluted
shares outstanding. Net income per diluted share in the prior-year
period was $0.73, or $0.46 when excluding approximately $0.27
related to tax reform.
Jim Conroy, Chief Executive Officer, commented, “I am thrilled
with our third quarter performance, which included sales growth in
virtually all major product categories and geographic regions while
generating strong merchandise margin expansion. Sales momentum in
our retail stores continued as we have now reported 7 consecutive
quarters of same store sales growth in our stores. We also
delivered double-digit growth in e-commerce sales with a healthy
increase in margin. The team executed extremely well from a
merchandising, marketing and operational perspective, driving
strong top line and bottom line growth. While early, I am also
quite pleased with current business and a solid start to our fiscal
fourth quarter.”
The foregoing expected results are preliminary and remain
subject to the completion of normal quarter end accounting
procedures and closing adjustments. The Company currently plans to
report third quarter results on February 5, 2019, at which time it
will also provide fourth quarter guidance.
2019 ICR Conference
The Company will be presenting at the 2019 ICR Conference held
at the JW Marriott Orlando Grande Lakes in Orlando, Florida, on
Monday, January 14, 2019 at 2:00pm Eastern Standard Time. The slide
presentation is available on the “Events & Presentations”
section at http://investor.bootbarn.com. The audio portion of the
presentation will be webcast live over the internet and can also be
accessed at http://investor.bootbarn.com. An online archive will be
available for a period of 90 days following the presentation.
About Boot Barn
Boot Barn is the nation’s leading lifestyle retailer of western
and work-related footwear, apparel and accessories for men, women
and children. The Company offers its loyal customer base a wide
selection of work and lifestyle brands. As of the date of this
release, Boot Barn operates 234 stores in 31 states, in addition to
an e-commerce channel www.bootbarn.com. The Company also operates
www.sheplers.com, the nation’s leading pure play online western and
work retailer and www.countryoutfitter.com, an e-commerce site
selling to customers who live a country lifestyle. For more
information, call 888-Boot-Barn or visit www.bootbarn.com.
Forward Looking Statements
This press release contains forward-looking statements that are
subject to risks and uncertainties. All statements other than
statements of historical fact included in this press release are
forward-looking statements. Forward-looking statements refer to our
current expectations and projections relating to, by way of example
and without limitation, our financial condition, liquidity,
profitability, results of operations, margins, plans, objectives,
strategies, future performance, business and industry. You can
identify forward-looking statements by the fact that they do not
relate strictly to historical or current facts. These statements
may include words such as "anticipate", "estimate", "expect",
"project", "plan“, "intend", "believe", “may”, “might”, “will”,
“could”, “should”, “can have”, “likely”, “outlook” and other words
and terms of similar meaning in connection with any discussion of
the timing or nature of future operating or financial performance
or other events, but not all forward-looking statements contain
these identifying words. These forward-looking statements are based
on assumptions that the Company’s management has made in light of
their industry experience and on their perceptions of historical
trends, current conditions, expected future developments and other
factors they believe are appropriate under the circumstances. As
you consider this press release, you should understand that these
statements are not guarantees of performance or results. They
involve risks, uncertainties (some of which are beyond the
Company’s control) and assumptions. These risks, uncertainties and
assumptions include, but are not limited to, the following:
decreases in consumer spending due to declines in consumer
confidence, local economic conditions or changes in consumer
preferences; the Company’s ability to effectively execute on its
growth strategy; and the Company’s failure to maintain and enhance
its strong brand image, to compete effectively, to maintain good
relationships with its key suppliers, and to improve and expand its
exclusive product offerings. The Company discusses the foregoing
risks and other risks in greater detail under the heading “Risk
factors” in the periodic reports filed by the Company with the
Securities and Exchange Commission. Although the Company believes
that these forward-looking statements are based on reasonable
assumptions, you should be aware that many factors could affect the
Company’s actual financial results and cause them to differ
materially from those anticipated in the forward-looking
statements. Because of these factors, the Company cautions that you
should not place undue reliance on any of these forward-looking
statements. New risks and uncertainties arise from time to time,
and it is impossible for the Company to predict those events or how
they may affect the Company. Further, any forward-looking statement
speaks only as of the date on which it is made. Except as required
by law, the Company does not intend to update or revise the
forward-looking statements in this press release after the date of
this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20190111005437/en/
Investors:ICR, Inc.Brendon Frey,
203-682-8216BootBarnIR@icrinc.comorMedia:Jim WatkinsVice
President, Investor
Relations949-453-4428BootBarnIRMedia@bootbarn.com
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