Boot Barn net sales increases 11.8% in Q3 FY20

Boot Barn Holdings Inc, a lifestyle retailer of footwear, apparel and accessories, reported a jump in net sales by 11.8 per cent to $284 million in Q3 FY20 that ended on December 28, 2019. Same store sales increased 6.7 per cent, including an increase in retail store same store sales of 5.7 per cent and in e-commerce sales of 11 per cent. 

 

Boot Barn Holdings Inc, a lifestyle retailer of footwear, apparel and accessories, reported a jump in net sales by 11.8 per cent to $284 million in Q3 FY20 that ended on December 28, 2019. Same store sales increased 6.7 per cent, including an increase in retail store same store sales of 5.7 per cent and in e-commerce sales of 11 per cent.#

Net sales for nine months period FY20, increased 12.5 per cent to $656.9 million from $584.1 million in the prior-year period. Consolidated same store sales increased 7.8 per cent with retail store same store sales up 7.9 per cent and e-commerce same store sales up 7.4 per cent for nine months period. The increase in net sales was driven by the increase in same store sales and sales from stores added over the past twelve months.

 

Boot Barn Holdings Inc, a lifestyle retailer of footwear, apparel and accessories, reported a jump in net sales by 11.8 per cent to $284 million in Q3 FY20 that ended on December 28, 2019. Same store sales increased 6.7 per cent, including an increase in retail store same store sales of 5.7 per cent and in e-commerce sales of 11 per cent.#

Net income in Q3 was $24.8 million compared to $19 million in the prior-year period. With increased sales and merchandise margin rate in Q3, the company reported gross profit of $97 million or 34.2 per cent of net sales compared to $85.7 million, or 33.7 per cent of net sales in the prior-year period. The increase in gross profit rate was driven by a 50 basis point increase in merchandise margin rate primarily driven by growth in exclusive brand penetration.

 

Boot Barn Holdings Inc, a lifestyle retailer of footwear, apparel and accessories, reported a jump in net sales by 11.8 per cent to $284 million in Q3 FY20 that ended on December 28, 2019. Same store sales increased 6.7 per cent, including an increase in retail store same store sales of 5.7 per cent and in e-commerce sales of 11 per cent.#

Selling, general and administrative (SG&A) expenses in Q3 were $62.1 million compared to $56.4 million in the prior-year period. The increase in SG&A expenses was primarily a result of additional costs to support higher sales and expenses for both new and acquired stores.

 

Boot Barn Holdings Inc, a lifestyle retailer of footwear, apparel and accessories, reported a jump in net sales by 11.8 per cent to $284 million in Q3 FY20 that ended on December 28, 2019. Same store sales increased 6.7 per cent, including an increase in retail store same store sales of 5.7 per cent and in e-commerce sales of 11 per cent.#

Income from operations in Q3 grew 19.4 per cent to $35 million compared to $29.3 million in the prior-year period.

 

Boot Barn Holdings Inc, a lifestyle retailer of footwear, apparel and accessories, reported a jump in net sales by 11.8 per cent to $284 million in Q3 FY20 that ended on December 28, 2019. Same store sales increased 6.7 per cent, including an increase in retail store same store sales of 5.7 per cent and in e-commerce sales of 11 per cent.#

During the quarter, the company reportedly expanded their physical footprint with the opening of three new stores and are on pace to meet our annual target of 10 per cent unit growth this fiscal year.

 

Boot Barn Holdings Inc, a lifestyle retailer of footwear, apparel and accessories, reported a jump in net sales by 11.8 per cent to $284 million in Q3 FY20 that ended on December 28, 2019. Same store sales increased 6.7 per cent, including an increase in retail store same store sales of 5.7 per cent and in e-commerce sales of 11 per cent.#

For the fiscal year ending March 28, 2020 the company now expects: to open or acquire 25 stores, including stores opened fiscal year-to-date; same store sales growth of approximately 7 per cent, compared to the company's prior outlook of approximately 6.5 per cent; income from operations of $81.7 million to $82.3 million, compared to the company's prior outlook of $78 million to $81 million; interest expense of approximately $13.3 million, compared to the company's prior outlook of approximately $13.6 million and net income of $53.1 million to $53.5 million, compared to the company's prior outlook of $49 million to $51.3 million.