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Boot Barn reports strong Q3, lifts guidance; taps Tilly’s exec as digital chief

Boot Barn expects to open 52 stores in its current fiscal year.
Boot Barn expects to open 21 stores during its current quarter.

Boot Barn Holdings’ momentum continued in the third quarter as the company delivered double-digit sales growth and continued to expand its store footprint — with 21 more stores on tap for its current quarter.

The retailer of Western and work-related footwear, apparel and accessories reported that its net income rose to $75.1 million, or $2.43 per share, for the quarter ended Dec. 30, compared to $55.6 million, or $1.81 per diluted share, in the year-ago period. (Included in the current quarter’s net income per share is an estimated $0.22 benefit related to the resignation of Jim Conroy, who stepped down as CEO in November to take the spot at Ross Stores.)

Net sales rose 16.9% to $608.2 million. Same-store sales were up 8.6%, with of an increase of 8.2% in store same-store sales and an increase of 11.1% in e-commerce comparative sales.

Boot Barn opened 13 new stores during the quarter, bringing its total store count to 438. The company expects to open 21 stores in its current quarter, including locations in Alaska, Vermont and Rhode Island, which would expand its total store presence to 49 states.

“Given the consistent success of our new store openings across all geographies, we believe that we have the market potential to double our store count in the U.S. alone over the next several years,” interim CEO John Hazen told analysts on the company’s earnings call. 

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Also during the call, Hazen said that Boot Barn has hired John Kosoff as chief digital officer. Most recently, Kosoff hold the same title at Tilly's. Before joining Tilly’s in 2020, Kosoff was the VP of e-commerce and marketing at Taco Bell.

In the earnings statement, Hazen noted the company had a “busy” holiday season, resulting in earnings above the high-end of its guidance range.

"The strength we saw in the business was once again driven by broad-based growth across all major merchandise categories, channels and geographies,” he said. “As we enter our fourth fiscal quarter, we feel very good about the overall tone of the business and the future growth potential of the brand.”

Boot Barn raised its guidance again for the full fiscal year. The company noe expects total sales for fiscal 2025 between $1.908 billion to $1.918 billion, representing growth of 14.5% to 15.1% over the prior year. Previously, it estimated total sales for the year of $1.874 billion to $1.907 billion, representing growth of 12.4% to 14.4% over the prior year.

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