Boot Barn Holdings, Inc. reported that net sales for the first fiscal quarter ended July 1 increased 4.9 percent year-over-year to $383.7 million, on top of 19.4 percent net sales growth in the prior-year period.
The increase in net sales was said to be the result of the incremental sales from new stores opened over the past twelve months, partially offset by a decrease in consolidated same-store sales. Higher average unit retail prices, driven in part by inflation, contributed to the increase in net sales as well.
Net income was $34.3 million, or $1.13 per diluted share, int he fiscal first quarter, compared to $39.3 million, or $1.29 per diluted share in the prior-year period. Net income per diluted share in the current-year and prior-year period includes an approximately 2 cents and 3 cents per share benefit, respectively, primarily due to income tax accounting for share-based compensation. Excluding the tax benefits, net income per diluted share was $1.11 and $1.26 in the current-year and prior-year period, respectively.
For full details on the Boot Barn’s fiscal first quarter and early Q2 results, including executive commentary from the analyst conference call, go here:
EXEC: Boot Barn Ups Full-Year Outlook as Fiscal Q1 Improves and Q2 Off to Strong Start
Photo courtesy Boot Barn
