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Boot Barn Holdings, Inc. (BOOT) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, March 26, 2022

Boot Barn Holdings, Inc.

CIK: 1610250 Ticker: BOOT
Exhibit 99.1

Boot Barn Holdings, Inc. Announces Fourth Quarter and Fiscal Year 2022 Financial Results

Fourth Quarter Same Store Sales Increased 33%

Total Addressable Market Now Estimated to be $40 Billion vs. $20 Billion

Increases Store Count Potential to 900 Stores

IRVINE, Calif.--(BUSINESS WIRE)--May 10, 2022--Boot Barn Holdings, Inc. (NYSE: BOOT) today announced its financial results for the fourth fiscal quarter and fiscal year ended March 26, 2022. The Company has also filed a Supplemental Financial Presentation that has been made available on the investor relations section of its website.

For the quarter ended March 26, 2022:

  • Net sales increased 48.1% over the prior-year period to $383.3 million. Net sales increased 103.2% compared to the quarter ended March 28, 2020, two years ago.
  • Same store sales increased 33.3% compared to the prior-year period, comprised of an increase in retail store same store sales of 30.7% and an increase in e-commerce same store sales of 49.5%.
  • Net income was $44.7 million, or $1.47 per diluted share, compared to $24.6 million, or $0.82 per diluted share in the prior-year period. Net income per diluted share in the prior-year period includes an approximately $0.07 per share benefit primarily due to income tax accounting for share-based compensation. Excluding the tax benefit in the prior-year period, net income per diluted share grew 96.0% in the current-year period to $1.47, compared to $0.75 in the prior-year period.
  • The Company opened 11 new stores bringing its total store count to 300.

For the fiscal year ended March 26, 2022:

  • Net sales increased 66.6% to $1.488 billion. Net sales increased 76.0% compared to the fiscal year ended March 28, 2020, two years ago.
  • Same store sales increased 53.7% compared to the prior-year period, comprised of an increase in retail store same store sales of 57.2% and an increase in e-commerce same store sales of 38.7%.
  • Net income was $192.5 million, or $6.33 per diluted share, compared to $59.4 million, or $2.01 per diluted share in the prior-year period. Net income per diluted share in the current-year and prior-year periods includes an approximately $0.17 and $0.09 per share benefit, respectively, primarily due to income tax accounting for share-based compensation. Excluding the tax benefit in both periods, net income per diluted share in the current-year period was $6.16, compared to $1.92 in the prior-year period.
  • The Company opened 28 new stores and closed one store.

The following information was filed by Boot Barn Holdings, Inc. (BOOT) on Tuesday, May 10, 2022 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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Boot Barn Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Boot Barn Holdings, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Details)
Accrued Expenses And Other Current Liabilities (Tables)
Business Combinations
Business Combinations (Tables)
Business Combinations - Business Combinations (Details)
Business Combinations - Goodwill (Details)
Business Operations
Business Operations (Details)
Commitments And Contingencies
Defined Contribution Plan
Defined Contribution Plan (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Intangible Assets, Net
Intangible Assets, Net (Tables)
Intangible Assets, Net - Intangible Assets (Details)
Leases
Leases (Tables)
Leases - Future Lease Payments (Details)
Leases - Lease Cost (Details)
Leases - Narrative (Details)
Leases - Rou Assets And Liabilities (Details)
Leases - Supplemental Lease Information (Details)
Prepaid Expenses And Other Current Assets
Prepaid Expenses And Other Current Assets (Details)
Prepaid Expenses And Other Current Assets (Tables)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Related Party Transactions
Related Party Transactions (Details)
Revolving Credit Facilities And Long-Term Debt
Revolving Credit Facilities And Long-Term Debt (Tables)
Revolving Credit Facilities And Long-Term Debt - Revolving Credit Facilities And Long-Term Debt (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Non-Vested Options (Details)
Stock-Based Compensation - Stock Options And Significant Valuation Assumptions (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Disclosures (Details)
Summary Of Significant Accounting Policies - Customer Loyalty Program (Details)
Summary Of Significant Accounting Policies - Disaggregated Revenue (Details)
Summary Of Significant Accounting Policies - Gift Card Program (Details)
Summary Of Significant Accounting Policies - Goodwill And Indefinite Lived Intangible Assets (Details)
Summary Of Significant Accounting Policies - Recent Accounting Pronouncements (Details)
Summary Of Significant Accounting Policies - Reclassification Of Debt Issuance Costs, Fiscal Year, Accounts Receivable And Inventories (Details)
Summary Of Significant Accounting Policies - Sales Returns Reserve (Details)
Summary Of Significant Accounting Policies - Useful Lives Of Property And Equipment (Details)
Ticker: BOOT
CIK: 1610250
Form Type: 10-K Annual Report
Accession Number: 0001558370-22-008393
Submitted to the SEC: Wed May 11 2022 7:53:15 PM EST
Accepted by the SEC: Thu May 12 2022
Period: Saturday, March 26, 2022
Industry: Retail Shoe Stores

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