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Boot Barn gets kicked by Sheplers in second quarter


The acquisition of Sheplers weighed on Boot Barn Holdings Inc. in the second quarter as the company reported flat same store sales.

Boot Barn said that for the second quarter endedSept. 26, net sales increased 50% to $129.7 million;same store sales increased 0.1%; and net income was $1.2 million, or 4 cents per diluted share.

“I am pleased with our execution in the quarter. We significantly grew our market share through a combination of the Sheplers acquisition, 25 new stores and growth in same stores sales," said Jim Conroy, CEO. "Additionally, despite facing a number of external headwinds in certain markets, the core Boot Barn business continued to grow as we achieved our 24th consecutive quarter of positive same store sales growth. Finally, the integration of the Sheplers business is on track with the back office systems fully converted and rebranding expected to be completed before Thanksgiving.”

The company acquired 25 stores and opened six new stores in the second quarter.The companyended the period with 201 stores in 29 states.

Looking ahead to the third quarter, the company now expects:

  • To open 22 new stores, with 9 expected to open in the second half of the fiscal year.

  • Consolidated same store sales growth of low single digits.

  • Pro forma adjusted net income of $20.5 million to $21.7 million, compared to the Company’s prior outlook of $23.2 million to $24.5 million.

  • Capital expenditures of approximately $33.0 million, which includes $13 million related to Sheplers.

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