U.S. Markets closed

Free Research Report as Boot Barn's Net Sales Jumped 5% and EPS Soared 140%

Stock Monitor: Cherokee Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 20, 2018 / If you want access to our free earnings report on Boot Barn Holdings, Inc. (NYSE: BOOT) ("Boot Barn"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BOOT. The Company reported its fourth quarter and full fiscal year 2018 operating and financial results on May 15, 2018. The Western apparel and footwear retailer surpassed revenue and earnings estimates. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Cherokee Inc. (NASDAQ: CHKE), which also belongs to the Services sector as the Company Boot Barn Holdings. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=CHKE

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Boot Barn Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=BOOT

Earnings Highlights and Summary

For the 13-week fourth quarter ended March 31, 2018, Boot Barn's net sales increased to $170.8 million from $163.0 million in the 14-week fourth quarter of the fiscal year 2017. The Company's net sales increased during the reported quarter, due to an increase in same-store sales of 12.1%; a contribution from 9 stores added over the past twelve months; and sales from the Country Outfitter site that was acquired in February 2017. Boot Barn's revenue numbers topped analysts' estimates of $158.0 million.

During Q4 FY18, Boot Barn's gross profit was $52.9 million, or 31.0% of net sales, compared to $49.3 million, or 30.3% of net sales, in Q4 FY17. The Company's gross profit rate increased primarily as a result of a 90-basis point increase in merchandise margin rate, partially offset by a 20-basis point increase in buying and occupancy costs.

For Q4 FY18, Boot Barn's selling, general, and administrative expenses (SG&A) were $41.6 million, or 24.4% of net sales, compared to $41.3 million, or 25.3% of net sales, in Q4 FY17. Excluding the $1.2 million of store impairment charges in the prior year's same period, the Company's adjusted SG&A were $40.1 million, or 24.6% of net sales, in Q4 FY18.

Boot Barn's income from operations increased 39.9% to $11.3 million, or 6.6% of net sales, in Q4 FY18 compared to $8.1 million, or 4.9% of net sales, in Q4 FY17. Excluding the impact of the store impairment charges in the prior year's comparable period, the Company's adjusted income from operations was $9.2 million, or 5.7% of net sales, in the reported quarter.

For Q4 FY18, Boot Barn's net income was $6.9 million, or $0.24 per diluted share, compared to $2.6 million, or $0.10 per diluted share, in Q4 FY17. Excluding the impact of the store impairment charges, the Company's adjusted net income was $3.3 million, or $0.12 per diluted share, in the year earlier corresponding quarter, which was a 14-week quarter. Boot Barn's net income per diluted share for Q4 FY18 included approximately $0.06 per share of tax benefit related to stock option exercises and $0.02 per share related to improved tax rates. The Company's earnings numbers beat Wall Street's estimates of $0.11 per share.

For the 52-week full fiscal year 2018, Boot Barn's net sales increased to $677.9 million from $629.8 million in the 53-week full fiscal year 2017. The increase in net sales was due to a 5.2% increase in same store sales; the sales contribution from 9 stores added over the past twelve months; and sales from the Country Outfitter site that was acquired in February 2017.

For FY18, Boot Barn's net income was $28.9 million, or $1.05 per diluted share, compared to $14.2 million, or $0.53 per diluted share, in FY17. The Company's adjusted net income was $14.9 million, or $0.55 per diluted share, in FY18.

For FY18, Boot Barn added 9 stores through new openings and acquisitions and closed 2 underperforming stores, bringing the total count to 226 stores at year-end.

Balance Sheet Highlights

As of March 31, 2018, Boot Barn had cash of $9.0 million. The Company's average inventory per store increased 4.4% on a comparable store basis compared to April 01, 2017. As of March 31, 2018, the Company's total net debt was $204.2 million, including $21.0 million drawn under its revolving credit facility.

Outlook

For the full fiscal year ended March 30, 2019, Boot Barn is forecasting to open 23 new stores. The Company is expecting same-store sales growth of mid-single digits. For FY18, Boot Barn is estimating income from operations to be between $52.5 million and $56.5 million. The Company is estimating net income to be in the range of $26.2 million to $29.2 million, or $0.92 to $1.02 per diluted share.

For the first fiscal quarter ending June 30, 2018, Boot Barn is projecting same-store sales growth of approximately 10%. The Company is expecting net income per diluted share to be in the band of $0.10 to $0.12.

Stock Performance Snapshot

June 19, 2018 - At Tuesday's closing bell, Boot Barn's stock fell 1.26%, ending the trading session at $22.67.

Volume traded for the day: 616.26 thousand shares.

Stock performance in the last three-month - up 22.54%; previous six-month period - up 51.03%; past twelve-month period - up 229.03%; and year-to-date - up 36.48%

After yesterday's close, Boot Barn's market cap was at $627.05 million.

Price to Earnings (P/E) ratio was at 28.62.

The stock is part of the Services sector, categorized under the Apparel Stores industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number:73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors