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Boot Barn Holdings, Inc. Announces Fourth Quarter and Fiscal Year 2018 Financial Results
Fourth Quarter and Fiscal Year 2018 Results Exceed Guidance
Appointment of Anne MacDonald to Board of Directors
IRVINE, Calif.--(BUSINESS WIRE)--May 15, 2018--Boot Barn Holdings, Inc. (NYSE: BOOT) today announced its financial results for the fourth quarter and fiscal year ended March 31, 2018.
For the 13-week fourth quarter ended March 31, 2018:
- Net sales increased to $170.8 million, driven by a 12.1% increase in same store sales, with double-digit same store sales growth in both retail stores and online. This compares to $163.0 million in the prior-year period, which was a 14-week quarter.
- Net income was $6.9 million, or $0.24 per diluted share, compared to net income of $2.6 million, or $0.10 per diluted share (and compared to adjusted net income of $3.3 million, or $0.12 per diluted share) in the prior-year period, which was a 14-week quarter.
For the 52-week fiscal year ended March 31, 2018:
- Net sales increased 7.6% to $677.9 million, compared to $629.8 million in the prior year, which was a 53-week year.
- Same store sales increased 5.2%.
- Net income was $28.9 million, or $1.05 per diluted share, compared to net income of $14.2 million, or $0.53 per diluted share (and compared to adjusted net income of $14.9 million, or $0.55 per diluted share) in the prior-year, which was a 53-week year.
- Added 9 stores through new openings and acquisitions and closed two underperforming stores, bringing the total count at fiscal year-end to 226 stores.
Note: Adjusted net income is a non-GAAP measure. An explanation of the computation of this measure and a reconciliation to GAAP net income is included below. See also "Non-GAAP Financial Measures."
The Company announced that Anne MacDonald, an experienced branding and marketing executive, has been appointed to its Board of Directors. Ms. MacDonald will replace Fred Simmons, who has resigned from the Board.
Over the course of her career, Ms. MacDonald has served as Chief Marketing Officer for several global companies including Macy’s, Citigroup, and Travelers Insurance. In addition to her executive experience, Ms. MacDonald has had extensive agency experience advising iconic brands including, Procter & Gamble, AT&T and Pizza Hut. Presently she works as a strategic advisor to several clients through her own firm.
The following information was filed by Boot Barn Holdings, Inc. (BOOT) on Tuesday, May 15, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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