Boot Barn Holdings, Inc. Announces Second Quarter Fiscal Year 2025 Financial Results and CEO Transition

Boot Barn Holdings, Inc. (NYSE: BOOT) (the “Company”) today announced its financial results for the second fiscal quarter ended September 28, 2024. A Supplemental Financial Presentation is available at investor.bootbarn.com.

In addition, the Company announced that Jim Conroy plans to step down as the Company’s Chief Executive Officer (CEO) and President and as a member of the Company’s Board of Directors, effective November 22, 2024, to pursue an opportunity as CEO of Ross Stores, Inc (NASDAQ: ROST).

CEO Transition

The Company further announced that John Hazen, the Company’s current Chief Digital Officer, will assume the role of Interim CEO, effective November 22, 2024. Mr. Hazen joined the Company in 2018 with responsibility for e-commerce, marketing, and the customer experience. Additionally, Peter Starrett, the Company’s current Chairman of the Board of Directors, will assume the role of Executive Chairman, effective November 22, 2024. Mr. Conroy will remain with the Company through November 22, 2024 to assist with an orderly transition.

Mr. Starrett stated, “John Hazen is very highly regarded within the Boot Barn organization and has a diverse background that includes brand building, digital, and store roles. He has a strong track record of growing sales and profits both at Boot Barn and prior to joining the Company. He also has been extremely instrumental in advancing Boot Barn’s customer-facing technology capabilities including many industry-leading applications of artificial intelligence. I am confident in his ability to step into the role as Interim CEO. Personally, I am looking forward to providing oversight and mentorship as Executive Chairman while the Board conducts an internal and external search before making a permanent decision on our next CEO.”

John Hazen commented, "I am deeply honored to step into this role and incredibly grateful to Jim for his visionary leadership and unwavering support. I also want to express my heartfelt thanks to the Board for their trust and to every member of this incredible team for their dedication that makes this Company exceptional. Together, we will continue building on the strong foundation that we have created and will move forward with confidence, tenacity, and purpose.”

Mr. Starrett added, “The Board recognizes the great contributions Jim has made during his tenure as Boot Barn’s CEO. When he assumed the CEO reins 12 years ago, Boot Barn was one of several regional retail chains specializing in western and work products. His focused approach on the execution of our strategic initiatives has led to one of the most exceptional growth stories in the retail industry. Today, Boot Barn is a national chain of 426 stores and the industry leader by a wide margin. On behalf of all Boot Barn partners, we wish Jim continued success in his next endeavor.”

Mr. Conroy commented, “After 12 incredible years, I am filled with immense gratitude for this Company and the extraordinary people who have been by my side throughout this journey. Together, we’ve built something truly special, and I will forever cherish the shared successes, challenges, and memories we created. Thank you for your trust, dedication, and passion—I leave with a heart full of pride and appreciation for every one of you.”

Second Quarter Fiscal Year 2025 Financial Results

For the quarter ended September 28, 2024 compared to the quarter ended September 30, 2023:

• Net sales increased 13.7% over the prior-year period to $425.8 million.
• Same store sales increased 4.9% compared to the prior-year period, comprised of an increase of 4.3% in retail store same store sales and an increase of 10.1% in e-commerce same store sales.
• Net income was $29.4 million, or $0.95 per diluted share, compared to $27.7 million, or $0.90 per diluted share, in the prior-year period.
• The Company opened 15 new stores, bringing its total store count to 425.

Jim Conroy, President and Chief Executive Officer said, "Our fiscal second quarter saw broad-based growth in same store sales, the addition of 15 new stores and a healthy beat to guidance in earnings per diluted share. Our team's excellent execution has driven improving trends across all channels, store geographies, and major merchandise classifications, positioning us well for the upcoming holiday season. As we manage through an orderly transition over the next month, I feel great about the condition of the business and am confident in the team’s ability, under John’s leadership, to execute on the four strategic initiatives and to drive future growth in sales and earnings."

Operating Results for the Second Quarter Ended September 28, 2024 Compared to the Second Quarter Ended September 30, 2023

• Net sales increased 13.7% to $425.8 million from $374.5 million in the prior-year period. Consolidated same store sales increased 4.9%, with retail store same store sales increasing 4.3% and e-commerce same store sales increasing 10.1%. The increase in net sales was the result of incremental sales from new stores and the increase in consolidated same store sales.

• Gross profit was $152.9 million, or 35.9% of net sales, compared to $133.9 million, or 35.8% of net sales, in the prior-year period. Gross profit increased primarily due to an increase in sales and merchandise margin, partially offset by the occupancy costs of new stores. The increase in gross profit rate of 10 basis points was driven primarily by a 70 basis-point increase in merchandise margin rate, partially offset by 60 basis points of deleverage in buying, occupancy and distribution center costs. The increase in merchandise margin rate was primarily the result of supply chain efficiencies, while the deleverage in buying, occupancy and distribution center costs was driven by the occupancy costs of new stores.

• Selling, general and administrative expenses were $112.9 million, or 26.5% of net sales, compared to $95.3 million, or 25.5% of net sales, in the prior-year period. The increase in selling, general and administrative expenses, as compared to the prior-year period, was primarily a result of higher store payroll and store-related expenses associated with operating more stores, incentive-based compensation, marketing expenses, and legal expenses in the current year. Selling, general and administrative expenses as a percentage of net sales increased by 100 basis points primarily as a result of higher incentive-based compensation, legal expenses, and marketing expenses in the current year, partially offset by lower store payroll expenses.

• Income from operations increased $1.4 million to $40.0 million, or 9.4% of net sales, compared to $38.6 million, or 10.3% of net sales, in the prior-year period, primarily due to the factors noted above.

• Net income was $29.4 million, or $0.95 per diluted share, compared to net income of $27.7 million, or $0.90 per diluted share, in the prior-year period. The increase in net income is primarily attributable to the factors noted above.

Operating Results for the Six Months Ended September 28, 2024 Compared to the Six Months Ended September 30, 2023

• Net sales increased 12.0% to $849.2 million from $758.2 million in the prior-year period. Consolidated same store sales increased 3.1%, with retail store same store sales increasing 2.5% and e-commerce same store sales increasing 8.4%. The increase in net sales was the result of incremental sales from new stores and the increase in consolidated same store sales.

• Gross profit was $309.6 million, or 36.5% of net sales, compared to $275.9 million, or 36.4% of net sales, in the prior-year period. Gross profit increased primarily due to an increase in sales and merchandise margin, partially offset by the occupancy costs of new stores. The increase in gross profit rate of 10 basis points was driven primarily by an 80 basis-point increase in merchandise margin rate, partially offset by 70 basis points of deleverage in buying, occupancy and distribution center costs. The increase in merchandise margin rate was the result of supply chain efficiencies, while the deleverage in buying, occupancy and distribution center costs was driven primarily by the occupancy costs of new stores.

• Selling, general and administrative expenses were $219.4 million, or 25.8% of net sales, compared to $191.1 million, or 25.2% of net sales, in the prior-year period. The increase in selling, general and administrative expenses, as compared to the prior-year period, was primarily a result of higher store payroll and store-related expenses associated with operating more stores, marketing expenses, and incentive-based compensation in the current year. Selling, general and administrative expenses as a percentage of net sales increased by 60 basis points primarily as a result of higher incentive-based compensation and marketing expenses in the current year, partially offset by lower store payroll and store-related expenses.

• Income from operations increased $5.4 million to $90.2 million, or 10.6% of net sales, compared to $84.8 million, or 11.2% of net sales, in the prior-year period, primarily due to the factors noted above.

• Net income was $68.3 million, or $2.21 per diluted share, compared to net income of $61.9 million, or $2.03 per diluted share, in the prior-year period. The increase in net income is primarily attributable to the factors noted above.

Sales by Channel

The following table includes total net sales growth, same store sales (“SSS”) growth/(decline) and e-commerce as a percentage of net sales for the periods indicated below.

 

 

Thirteen Weeks

 

 

 

 

 

 

 

 

Preliminary

 

 

Ended

 

Four Weeks

Four Weeks

Five Weeks

 

Four Weeks

 

 

September 28, 2024

 

Fiscal July

Fiscal August

Fiscal September

 

Fiscal October

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Net Sales Growth

 

13.7

%

 

8.8

%

14.7

%

16.8

%

 

14.6

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail Stores SSS

 

4.3

%

 

(0.9)

%

5.3

%

7.5

%

 

4.3

%

E-commerce SSS

 

10.1

%

 

5.0

%

12.1

%

12.2

%

 

12.5

%

Consolidated SSS

 

4.9

%

 

(0.3)

%

6.0

%

8.0

%

 

5.1

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E-commerce as a % of Net Sales

 

9.5

%

 

9.2

%

9.4

%

9.9

%

 

9.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Highlights as of September 28, 2024

• Cash of $37 million.
• Zero drawn under the $250 million revolving credit facility.
• Average inventory per store increased approximately 10.5% on a same store basis compared to September 30, 2023.

Fiscal Year 2025 Outlook

The Company is providing updated guidance for the fiscal year ending March 29, 2025, superseding in its entirety the previous guidance issued in its first quarter earnings report on August 7, 2024. Please note that the Company’s guidance excludes any benefits and costs related to the CEO transition.

For the fiscal year ending March 29, 2025 the Company now expects:

• To open a total of 60 new stores.
• Total sales of $1.874 billion to $1.907 billion, representing growth of 12.4% to 14.4% over the prior year.
• Same store sales growth of approximately 3.0% to 5.0%, with retail store same store sales growth of approximately 2.5% to 4.5% and e-commerce same store sales growth of approximately 7.5% to 9.5%.
• Gross profit between $696.9 million and $713.4 million, or approximately 37.2% to 37.4% of sales.
• Selling, general and administrative expenses between $476.5 million and $480.4 million, or approximately 25.4% to 25.2% of sales.
• Income from operations between $220.4 million and $233.0 million, or approximately 11.8% to 12.2% of sales.
• Effective tax rate of 26.6% for the remaining six months of the fiscal year.
• Net income of $164.4 million to $173.7 million.
• Net income per diluted share of $5.30 to $5.60, based on 31.0 million weighted average diluted shares outstanding.
• Capital expenditures between $115.0 million and $120.0 million, which is net of estimated landlord tenant allowances of $30.2 million.

For the fiscal third quarter ending December 28, 2024, the Company now expects:

• Total sales of $582 million to $595 million, representing growth of 11.8% to 14.3% over the prior-year period.
• Same store sales growth of approximately 3.5% to 6.0%, with retail store same store sales growth of approximately 3.0% to 5.0% and e-commerce same store sales growth of approximately 7.5% to 10.0%.
• Income from operations between $82.7 million and $87.3 million, or approximately 14.2% to 14.7% of sales.
• Net income per diluted share of $1.96 to $2.07, based on 31.0 million weighted average diluted shares outstanding.

Conference Call Information

A conference call to discuss the financial results for the second quarter of fiscal year 2025 is scheduled for today, October 28, 2024, at 4:30 p.m. ET (1:30 p.m. PT). Investors and analysts interested in participating in the call are invited to dial [phone]. The conference call will also be available to interested parties through a live webcast at investor.bootbarn.com. Please visit the website and select the “Events and Presentations” link at least 15 minutes prior to the start of the call to register and download any necessary software. A Supplemental Financial Presentation is also available on the investor relations section of the Company’s website. A telephone replay of the call will be available until November 28, 2024, by dialing [phone] (domestic) or [phone] (international) and entering the conference identification number: 10193684. Please note participants must enter the conference identification number in order to access the replay.

About Boot Barn

Boot Barn is the nation’s leading lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company offers its loyal customer base a wide selection of work and lifestyle brands. As of the date of this release, Boot Barn operates 426 stores in 46 states, in addition to an e-commerce channel www.bootbarn.com. The Company also operates www.sheplers.com, the nation’s leading pure play online western and work retailer and www.countryoutfitter.com, an e-commerce site selling to customers who live a country lifestyle. For more information, call 888-Boot-Barn or visit www.bootbarn.com.

Forward Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements refer to the Company’s current expectations and projections relating to, by way of example and without limitation, the Company’s financial condition, liquidity, profitability, results of operations, margins, plans, objectives, strategies, future performance, business and industry. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan“, “intend”, “believe”, “may”, “might”, “will”, “could”, “should”, “can have”, “likely”, “outlook” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events, but not all forward-looking statements contain these identifying words. These forward-looking statements are based on assumptions that the Company’s management has made in light of their industry experience and on their perceptions of historical trends, current conditions, expected future developments and other factors that they believe are appropriate under the circumstances. As you consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond the Company’s control) and assumptions. These risks, uncertainties and assumptions include, but are not limited to, the following: decreases in consumer spending due to declines in consumer confidence, local economic conditions or changes in consumer preferences; the Company’s ability to effectively execute on its growth strategy; and the Company’s failure to maintain and enhance its strong brand image, to compete effectively, to maintain good relationships with its key suppliers, and to improve and expand its exclusive product offerings. The Company discusses the foregoing risks and other risks in greater detail under the heading “Risk factors” in the periodic reports filed by the Company with the Securities and Exchange Commission. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. Because of these factors, the Company cautions that you should not place undue reliance on any of these forward-looking statements. New risks and uncertainties arise from time to time, and it is impossible for the Company to predict those events or how they may affect the Company. Further, any forward-looking statement speaks only as of the date on which it is made. Except as required by law, the Company does not intend to update or revise the forward-looking statements in this press release after the date of this press release.

Boot Barn Holdings, Inc. Consolidated Balance Sheets (In thousands, except per share data) (Unaudited)

 

 

September 28,

 

March 30,

 

 

2024

 

2024

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

37,377

 

 

$

75,847

 

Accounts receivable, net

 

 

7,886

 

 

 

9,964

 

Inventories

 

 

712,991

 

 

 

599,120

 

Prepaid expenses and other current assets

 

 

48,851

 

 

 

44,718

 

Total current assets

 

 

807,105

 

 

 

729,649

 

Property and equipment, net

 

 

368,289

 

 

 

323,667

 

Right-of-use assets, net

 

 

429,020

 

 

 

390,501

 

Goodwill

 

 

197,502

 

 

 

197,502

 

Intangible assets, net

 

 

58,677

 

 

 

58,697

 

Other assets

 

 

6,184

 

 

 

5,576

 

Total assets

 

$

1,866,777

 

 

$

1,705,592

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

153,564

 

 

$

132,877

 

Accrued expenses and other current liabilities

 

 

134,302

 

 

 

116,477

 

Short-term lease liabilities

 

 

70,540

 

 

 

63,454

 

Total current liabilities

 

 

358,406

 

 

 

312,808

 

Deferred taxes

 

 

41,267

 

 

 

42,033

 

Long-term lease liabilities

 

 

446,068

 

 

 

403,303

 

Other liabilities

 

 

4,378

 

 

 

3,805

 

Total liabilities

 

 

850,119

 

 

 

761,949

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

Common stock, $0.0001 par value; September 28, 2024 - 100,000 shares authorized, 30,824 shares issued; March 30, 2024 - 100,000 shares authorized, 30,572 shares issued

 

 

3

 

 

 

3

 

Preferred stock, $0.0001 par value; 10,000 shares authorized, no shares issued or outstanding

 

 

—

 

 

 

—

 

Additional paid-in capital

 

 

244,931

 

 

 

232,636

 

Retained earnings

 

 

791,363

 

 

 

723,026

 

Less: Common stock held in treasury, at cost, 298 and 228 shares at September 28, 2024 and March 30, 2024, respectively

 

 

(19,639

)

 

 

(12,022

)

Total stockholders’ equity

 

 

1,016,658

 

 

 

943,643

 

Total liabilities and stockholders’ equity

 

$

1,866,777

 

 

$

1,705,592

 

Boot Barn Holdings, Inc. Consolidated Statements of Operations (In thousands, except per share data) (Unaudited)

 

 

Thirteen Weeks Ended

 

Twenty-Six Weeks Ended

 

 

September 28,

 

September 30,

 

September 28,

 

September 30,

 

 

2024

 

2023

 

2024

 

2023

Net sales

 

$

425,799

 

$

374,456

 

 

$

849,185

 

$

758,151

Cost of goods sold

 

 

272,941

 

 

240,540

 

 

 

539,578

 

 

482,272

Gross profit

 

 

152,858

 

 

133,916

 

 

 

309,607

 

 

275,879

Selling, general and administrative expenses

 

 

112,879

 

 

95,338

 

 

 

219,406

 

 

191,056

Income from operations

 

 

39,979

 

 

38,578

 

 

 

90,201

 

 

84,823

Interest expense

 

 

384

 

 

463

 

 

 

735

 

 

1,486

Other income (loss), net

 

 

949

 

 

(50

)

 

 

1,545

 

 

174

Income before income taxes

 

 

40,544

 

 

38,065

 

 

 

91,011

 

 

83,511

Income tax expense

 

 

11,116

 

 

10,385

 

 

 

22,674

 

 

21,578

Net income

 

$

29,428

 

$

27,680

 

 

$

68,337

 

$

61,933

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.96

 

$

0.92

 

 

$

2.24

 

$

2.06

Diluted

 

$

0.95

 

$

0.90

 

 

$

2.21

 

$

2.03

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

30,510

 

 

30,137

 

 

 

30,471

 

 

30,029

Diluted

 

 

30,899

 

 

30,627

 

 

 

30,859

 

 

30,540

Boot Barn Holdings, Inc. Consolidated Statements of Cash Flows (In thousands) (Unaudited)

 

 

Twenty-Six Weeks Ended

 

 

September 28,

 

September 30,

 

 

2024

 

2023

Cash flows from operating activities

 

 

 

 

 

 

Net income

 

$

68,337

 

 

$

61,933

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

Depreciation

 

 

29,540

 

 

 

22,597

 

Stock-based compensation

 

 

10,864

 

 

 

7,833

 

Amortization of intangible assets

 

 

20

 

 

 

27

 

Noncash lease expense

 

 

32,229

 

 

 

26,487

 

Amortization and write-off of debt issuance fees and debt discount

 

 

54

 

 

 

54

 

Loss on disposal of assets

 

 

134

 

 

 

298

 

Deferred taxes

 

 

(766

)

 

 

2,993

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

Accounts receivable, net

 

 

2,097

 

 

 

3,046

 

Inventories

 

 

(113,871

)

 

 

3,921

 

Prepaid expenses and other current assets

 

 

(4,397

)

 

 

9,243

 

Other assets

 

 

(608

)

 

 

1,302

 

Accounts payable

 

 

19,722

 

 

 

7,051

 

Accrued expenses and other current liabilities

 

 

9,897

 

 

 

13,600

 

Other liabilities

 

 

573

 

 

 

510

 

Operating leases

 

 

(20,283

)

 

 

(15,435

)

Net cash provided by operating activities

 

$

33,542

 

 

$

145,460

 

Cash flows from investing activities

 

 

 

 

 

 

Purchases of property and equipment

 

 

(65,403

)

 

 

(64,687

)

Net cash used in investing activities

 

$

(65,403

)

 

$

(64,687

)

Cash flows from financing activities

 

 

 

 

 

 

Payments on line of credit, net

 

 

—

 

 

 

(66,043

)

Repayments on debt and finance lease obligations

 

 

(423

)

 

 

(428

)

Tax withholding payments for net share settlement

 

 

(7,617

)

 

 

(2,412

)

Proceeds from the exercise of stock options

 

 

1,431

 

 

 

8,582

 

Net cash used in financing activities

 

$

(6,609

)

 

$

(60,301

)

Net (decrease)/increase in cash and cash equivalents

 

 

(38,470

)

 

 

20,472

 

Cash and cash equivalents, beginning of period

 

 

75,847

 

 

 

18,193

 

Cash and cash equivalents, end of period

 

$

37,377

 

 

$

38,665

 

 

 

 

 

 

 

 

Supplemental disclosures of cash flow information:

 

 

 

 

 

 

Cash paid for income taxes

 

$

17,770

 

 

$

2,822

 

Cash paid for interest

 

$

677

 

 

$

1,399

 

Supplemental disclosure of non-cash activities:

 

 

 

 

 

 

Unpaid purchases of property and equipment

 

$

24,061

 

 

$

14,103

 

Boot Barn Holdings, Inc. Store Count

 

 

Quarter

Ended

 

Quarter

Ended

 

Quarter

Ended

 

Quarter

Ended

 

Quarter

Ended

 

Quarter

Ended

 

Quarter

Ended

 

Quarter

Ended

 

 

September 28,

 

June 29,

 

March 30,

 

December 30,

 

September 30,

 

July 1,

 

April 1,

 

December 24,

 

 

2024

 

2024

 

2024

 

2023

 

2023

 

2023

 

2023

 

2022

Store Count (BOP)

 

411

 

 

400

 

382

 

371

 

361

 

345

 

333

 

321

Opened/Acquired

 

15

 

 

11

 

18

 

11

 

10

 

16

 

12

 

12

Closed

 

(1

)

 

—

 

—

 

—

 

—

 

—

 

—

 

—

Store Count (EOP)

 

425

 

 

411

 

400

 

382

 

371

 

361

 

345

 

333

Boot Barn Holdings, Inc. Selected Store Data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fourteen

 

Thirteen

 

 

Thirteen Weeks Ended

 

Weeks Ended

 

Weeks Ended

 

 

September 28,

 

June 29,

 

March 30,

 

December 30,

 

September 30,

 

July 1,

 

April 1,

 

December 24,

 

 

2024

 

2024

 

2024

 

2023

 

2023

 

2023

 

2023

 

2022

Selected Store Data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Same Store Sales growth/(decline)

 

 

4.9

%

 

1.4

%

 

(5.9

)%

 

(9.7

)%

 

(4.8

)%

 

(2.9

)%

 

(5.5

)%

 

(3.6

)%

Stores operating at end of period

 

 

425

 

 

411

 

 

400

 

 

 

382

 

 

 

371

 

 

 

361

 

 

 

345

 

 

 

333

 

Comparable stores operating during period(1)

 

 

363

 

 

349

 

 

335

 

 

 

322

 

 

 

312

 

 

 

302

 

 

 

290

 

 

 

280

 

Total retail store selling square footage, end of period (in thousands)

 

 

4,720

 

 

4,547

 

 

4,371

 

 

 

4,153

 

 

 

4,027

 

 

 

3,914

 

 

 

3,735

 

 

 

3,598

 

Average retail store selling square footage, end of period

 

 

11,105

 

 

11,063

 

 

10,929

 

 

 

10,872

 

 

 

10,855

 

 

 

10,841

 

 

 

10,825

 

 

 

10,806

 

Average sales per comparable store (in thousands)(2)

 

$

952

 

$

980

 

$

917

 

 

$

1,256

 

 

$

950

 

 

$

1,014

 

 

$

1,092

 

 

$

1,424

 

(1) Comparable stores have been open at least 13 full fiscal months as of the end of the applicable reporting period.

(2) Average sales per comparable store is calculated by dividing comparable store trailing three-month sales for the applicable period by the number of comparable stores operating during the period.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241028994741/en/

Investor Contact: ICR, Inc. Brendon Frey, 203-682-8216 [e-mail] or Company Contact: Boot Barn Holdings, Inc. Mark Dedovesh, 949-453-4489 Senior Vice President, Investor Relations & Financial Planning [e-mail]