IRVINE, Calif.--(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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190111005437/en/
Investors:
ICR, Inc.
Brendon Frey, 203-682-8216
BootBarnIR@icrinc.com
or
Media:
Jim
Watkins
Vice President, Investor Relations
949-453-4428
BootBarnIRMedia@bootbarn.com
Source: Boot Barn Holdings, Inc.