Boot Barn Holdings, Inc. has announced its participation in the Piper Sandler Growth Frontiers Conference and provided an update on its recent performance ahead of the event. The company's President and CEO, Jim Conroy, expressed satisfaction with the strong execution from the entire Boot Barn team and noted solid performance from new store openings in multiple markets across the country.
In terms of same store sales (SSS), the company reported preliminary results for the periods indicated. For the four-week period ending in fiscal July, the retail stores SSS were at a decline of 0.9%, while the e-commerce SSS showed a positive growth of 5.0%. Moving to the four-week period ending in fiscal August, the retail stores SSS experienced a significant turnaround, with a growth of 5.3%, and the e-commerce SSS continued to show strong growth at 12.1%. Additionally, for the two-week period ending in fiscal September, both retail stores and e-commerce SSS continued to display positive growth, with retail stores at 7.9% and e-commerce at 11.3%.
Looking at the consolidated SSS, which takes into account both retail stores and e-commerce, the company reported a decline of 0.3% for the four-week period ending in fiscal July, followed by a significant improvement of 6.0% for the four-week period ending in fiscal August. The positive trend continued into the two-week period ending in fiscal September, with consolidated SSS reaching 8.2%.
Conroy highlighted that the recent strength in same store sales has been driven by year-over-year growth in average store transactions with no meaningful change in the company's promotional posture. He also expressed increasing confidence in the underlying tone of the business as they prepare for the upcoming holiday quarter.
Boot Barn, as of the date of the release, operates 417 stores in 46 states, in addition to its e-commerce channels. The company positions itself as the nation’s leading lifestyle retailer of western and work-related footwear, apparel, and accessories for men, women, and children, offering a wide selection of work and lifestyle brands. As a result of these announcements, the company's shares have moved 3.0% on the market, and are now trading at a price of $139.55. For the full picture, make sure to review Boot Barn's 8-K report.
