Boot Barn Holdings, Inc. announces preliminary results for the third quarter, the appointment of a new chief digital officer and participation in the 2025 ICR conference.

IRVINE, Calif.–( BUSINESS WIRE )–Boot Barn Holdings, Inc. (NYSE: BOOT) (The Company, We, Us and Our) today announced preliminary results for the third quarter of fiscal year 2025 ended December 28, 2024 prior to attending the ICR conference call on Monday, January 13, 2025. Additional financial The presentation is available at investor.bootbarn.com.

Preliminary results for the third quarter of fiscal year 2025

For the third quarter ended December 28, 2024, the Company expects the following reports:

• Net sales of approximately $608.2 million, representing growth of 16.9% over the prior year.
• Same-store sales growth of approximately 8.6%, with retail same-store sales growth of approximately 8.2% and e-commerce same-store sales growth of approximately 11.1%.
• Income from operations of approximately $99.5 million compared to $75.1 million in the prior year period. Included in operating income is a net gain of $6.7 million related to the transition of the Chief Executive Officer (CEO). This charge primarily relates to the forfeiture of non-equity long-term incentive compensation and the reversal of fiscal 2025 cash incentive bonus expense for the Company’s former Chief Executive Officer. These expenses were not deductible for income tax.
• Net income per diluted share of approximately $2.43 based on 30.9 million weighted average diluted shares and an effective tax rate of 24.3%, compared to net income per diluted share of $1.81 in the prior year period. Net income per diluted share includes an estimated charge of $0.22 related to the CEO transition.
• The company opened 13 new stores in the third quarter, or 39 stores year-to-date, bringing the total number of stores to 438.

John Hazen, Interim Chief Executive Officer, commented, I am very pleased with our results in the third quarter. We again experienced robust growth, driving same-store sales growth of 8.6% year-over-year and above our expectations. Both channels and all geographies and major product categories were nicely positive, with the latter led by Western women’s and men’s jobs, which grew in the low double digits and high single digits, respectively. We are pleased that our sales performance, driven by strong full price sales, translated into strong earnings per share as we increased gross margin by approximately 130 basis points. I am proud of the entire team for delivering a strong holiday quarter and look forward to a successful end to our fiscal year.

The above expected results are preliminary and are subject to the completion of normal quarter-end accounting procedures and final reconciliations. The company currently plans to report third quarter results on January 30, 2025, when it will also provide guidance for the fourth quarter.

Appointment of new Chief Digital Officer

The company has named Jonathon D. Kosoff as its Chief Digital Officer, effective January 27, 2025. Mr. Kosoff previously served as Chief Digital Officer for Tilly’s (NYSE:), Inc. from February 2020 to January 2025, Mr. Kosoff served as Vice President of E-Commerce and Performance Marketing at Taco Bell, a subsidiary of Yum! Brands (NYSE:), Inc., from January 2018 to February 2020.

ICR Conference 2025

The company will host a fireside chat at the 2025 ICR Conference on Monday, January 13, 2025 at 10:30 am ET. The fireside chat will be webcast live and can also be accessed at http://investor.bootbarn.com. The online archive will be available for a period of 90 days on the investor page of the Company’s website.

About Boot Barn (NYSE:)

Boot Barn is the nation’s leading retailer of western and work 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 438 stores in 46 states, along with an e-commerce channel www.bootbarn.com. The company also operates www.sheplers.com, the nation’s leading retailer of western and pure-play business apparel, and www.countryoutfitter.com, an e-commerce website that sells to customers who live the 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 the Company’s current expectations and projections relating to, by way of example and without limitation, the Company’s financial condition, liquidity, profitability, operating results, margins, plans, goals, strategies, future results, operations and industry . You can recognize forward-looking statements by not referring solely to historical or current facts. These statements may include words such as predict, estimate, expect, project, plan, intend, believe, may, might, will, could, should, may have, likely, likely and other words and terms of similar meaning in in connection with any discussion of the timing or nature of future business or financial performance or other events, but do not contain all forward-looking statements and identifying words. These forward-looking statements are based on assumptions made by the Company’s management in light of its industry experience and its perceptions of historical trends, current conditions, expected future developments and other factors it believes 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 its growth strategy; and the Company’s failure to maintain and enhance its brand image, to compete effectively, to maintain good relationships with its key suppliers, and to improve and expand its exclusive product offerings. The Company considers the above-mentioned risks and other risks in more detail under the heading Risk Factors in the periodic reports that the Company submits to the Securities 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 these events or how they may affect the Company. Furthermore, 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 any forward-looking statements in this press release after the date of this press release.

See the original version on businesswire.com: https://www.businesswire.com/news/home/20250110378200/en/

Contact for investors:
ICR, Inc.
Brendon Frey, 203-682-8216
BootBarnIR@icrinc.com

or

Company contact:
Boot Barn Holdings, Inc.
Mark Dedovesh, 949-453-4489
Senior Vice President, Investor Relations and Financial Planning
BootBarnIRMedia@bootbarn.com

Source: Boot Barn