IRVINE, Calif.--(BUSINESS WIRE)--
Boot Barn Holdings, Inc. (NYSE: BOOT) today announced that it amended
both its revolving credit facility and term loan on June 6, 2019.
The amendment to its revolving credit facility increased the capacity
from $135.0 million to $165.0 million and extended the maturity by two
years to the earlier of June 6, 2024 or 90 days prior to the maturity
date of the term loan, which is now scheduled to mature on June 29, 2023.
The amendment to its term loan extended the maturity date by two years
to June 29, 2023. In conjunction with the amendment, the Company made a
prepayment of $65.0 million, reducing the balance outstanding from
$176.5 million to $111.5 million.
Total fees associated with the amendments of approximately $1.2 million
have been capitalized.
As a result of these amendments and the prepayment of the term loan, the
Company now expects interest expense for the fiscal year ended March 28,
2020 to be $14.5 million, compared to its previous guidance of $15.5
million.
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 240 stores in 33 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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190612005292/en/
Investors:
ICR, Inc.
Brendon Frey, 203-682-8216
BootBarnIR@icrinc.com
or
Media:
Boot Barn Holdings, Inc.
Jim Watkins,
949-453-4428
Vice President, Investor Relations
BootBarnIRMedia@bootbarn.com
Source: Boot Barn Holdings, Inc.