Boot Barn reports preliminary third-quarter results

IRVINE, Calif. – Boot Barn Holdings, Inc. (NYSE: BOOT), a leading lifestyle retailer of work-related and Western products, announced preliminary results for the third quarter of fiscal 2024 ended December 30, 2023. The company reported net sales rose 1.1% from a year earlier to $520.4 million, even as same-store sales rose 9.7%.

The decline in same-store sales was mainly divided into retail store sales (down 9.4%) and e-commerce sales (down 11.3%). However, Boot Barn expects diluted net income per share to be at or above the high end of its previously announced guidance range of $1.79.

In the third quarter, Boot Barn continued its expansion strategy and opened 11 new stores. This brings the total number of new stores opened since the beginning of the year to 37, and the total number of stores to 382.

Boot Barn Chairman and CEO Jim Conroy commented on the company’s resiliency and the effectiveness of its business model, which has grown earnings despite lower sales at comparable stores. He highlighted the company’s performance compared to pre-pandemic levels and attributed the positive earnings outlook to a disciplined advertising strategy and strong cost controls.

The company’s preliminary financial results are subject to completion of standard quarter-end accounting procedures and adjustments. Boot Barn plans to release full third-quarter results on January 31, 2024, at which time it will also provide fourth-quarter guidance.

The information provided in this report is based on a press release from Boot Barn Holdings, Inc.

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