Boot Barn Holdings, Inc. Announces Participation in the Piper Sandler Growth Frontiers Conference
Boot Barn Holdings, Inc. (NYSE: BOOT) announced its participation in the Piper Sandler Growth Frontiers Conference on September 10, 2024. The company also provided an update on its recent performance, highlighting positive same-store sales across both channels, all four store geographies, and every major merchandise classification. CEO Jim Conroy noted sequential improvement from July to August and into the first two weeks of fiscal September. The company reported consolidated same-store sales growth of 4.0% for the ten-week fiscal second quarter, with retail stores at 3.4% and e-commerce at 9.2%. Despite ongoing macro uncertainty, Boot Barn expressed increased confidence in the underlying business tone as they approach the holiday quarter.
Boot Barn Holdings, Inc. (NYSE: BOOT) ha annunciato la sua partecipazione alla Piper Sandler Growth Frontiers Conference il 10 settembre 2024. L'azienda ha anche fornito un aggiornamento sulle sue recenti performance, evidenziando vendite comparabili positive in entrambi i canali, in tutte e quattro le geografie dei negozi e in ogni principale classificazione merceologica. Il CEO Jim Conroy ha notato un miglioramento sequenziale da luglio ad agosto e nelle prime due settimane di settembre fiscale. L'azienda ha riportato una crescita delle vendite comparabili consolidate del 4,0% per il secondo trimestre fiscale di dieci settimane, con i negozi al dettaglio al 3,4% e l'e-commerce al 9,2%. Nonostante l’incertezza macroeconomica in corso, Boot Barn ha espresso una maggiore fiducia nel tono commerciale sottostante mentre si avvicinano al trimestre delle vacanze.
Boot Barn Holdings, Inc. (NYSE: BOOT) anunció su participación en la Conferencia de Fronteras de Crecimiento de Piper Sandler el 10 de septiembre de 2024. La compañía también proporcionó una actualización sobre su desempeño reciente, destacando ventas comparables positivas en ambos canales, en las cuatro geografías de las tiendas y en cada una de las principales clasificaciones de mercancías. El CEO Jim Conroy señaló una mejora secuencial de julio a agosto y en las primeras dos semanas de septiembre fiscal. La compañía reportó un crecimiento de ventas comparables consolidadas del 4,0% para el segundo trimestre fiscal de diez semanas, con tiendas minoristas en 3,4% y comercio electrónico en 9,2%. A pesar de la incertidumbre macroeconómica en curso, Boot Barn expresó una mayor confianza en el tono del negocio subyacente a medida que se acercan al trimestre de vacaciones.
부트 반 홀딩스(주) (NYSE: BOOT)는 2024년 9월 10일에 파이퍼 샌들러 성장 프런티어스 컨퍼런스에 참가한다고 발표했습니다. 회사는 최근 성과에 대한 업데이트를 제공하며, 두 채널과 네 개의 매장 지역, 주요 상품 분류 전반에 걸쳐 긍정적인 동일 매장 매출을 강조했습니다. CEO 짐 콘로이는 7월에서 8월로의 순차적 개선과 회계연도 9월 첫 2주 동안의 개선을 언급했습니다. 회사는 10주간의 회계연도 두 번째 분기에 4.0%의 통합 동일 매장 매출 성장을 보고했으며, 소매점은 3.4%, 전자 상거래는 9.2%를 기록했습니다. 지속되는 거시경제의 불확실성에도 불구하고, 부트 반은 휴가 분기를 앞두고 기본 사업의 신뢰도가 높아졌다고 밝혔습니다.
Boot Barn Holdings, Inc. (NYSE: BOOT) a annoncé sa participation à la Conférence Piper Sandler Growth Frontiers le 10 septembre 2024. L'entreprise a également fourni une mise à jour sur sa performance récente, mettant en avant des ventes comparables positives dans les deux canaux, dans les quatre géographies de magasins et dans chaque principale catégorie de produits. Le PDG Jim Conroy a noté une amélioration séquentielle de juillet à août et dans les deux premières semaines de septembre fiscal. L'entreprise a rapporté une croissance des ventes comparables consolidées de 4,0% pour le deuxième trimestre fiscal de dix semaines, avec des magasins de détail à 3,4 % et du commerce électronique à 9,2 %. Malgré l'incertitude macroéconomique persistante, Boot Barn a exprimé une confiance accrue dans le ton commercial sous-jacent alors qu'ils s'approchent du trimestre des fêtes.
Boot Barn Holdings, Inc. (NYSE: BOOT) gab seine Teilnahme an der Piper Sandler Growth Frontiers Conference am 10. September 2024 bekannt. Das Unternehmen gab auch ein Update zu seiner aktuellen Leistung und hob die positiven vergleichbaren Verkäufe in beiden Kanälen, in allen vier Filialgeografien und jeder Hauptwarengruppe hervor. CEO Jim Conroy bemerkte eine sequenzielle Verbesserung von Juli bis August und in den ersten beiden Wochen des Geschäftsjahres September. Das Unternehmen meldete ein Wachstum der konsolidierten vergleichbaren Verkäufe von 4,0% für das zehnwöchige Geschäftsjahr im zweiten Quartal, mit Einzelhandelsgeschäften bei 3,4% und E-Commerce bei 9,2%. Trotz anhaltender makroökonomischer Unsicherheit drückte Boot Barn eine erhöhte Zuversicht in den zugrunde liegenden Geschäftston aus, da sie sich dem Urlaubsquartal nähern.
- Consolidated same-store sales growth of 4.0% for the fiscal second quarter
- E-commerce same-store sales growth of 9.2% for the fiscal second quarter
- Sequential improvement in same-store sales from July to September
- Positive comps across all channels, store geographies, and merchandise classifications
- Year-over-year growth in average store transactions without significant promotional changes
- Slight decline in retail store same-store sales (-0.9%) for the fiscal July period
Insights
Boot Barn's recent performance update reveals some positive trends that could interest investors. The company's consolidated same-store sales (SSS) have shown significant improvement, moving from a
The e-commerce segment has been a standout performer, with SSS growth consistently in the double digits. This suggests Boot Barn is successfully navigating the shift to online shopping. The positive comps across all store geographies and merchandise classifications indicate a broad-based recovery, rather than isolated pockets of growth. The increase in average store transactions without increased promotions is a healthy sign for margins.
However, investors should remain cautious. The data provided is short-term and may not represent a sustainable trend. The upcoming holiday quarter will be important in determining if this momentum can be maintained amidst ongoing macroeconomic uncertainties.
Boot Barn's performance update offers intriguing insights into consumer behavior and retail trends. The sequential improvement in same-store sales from July to early September suggests a potential shift in consumer sentiment or spending patterns. This could be indicative of broader retail sector trends as we approach the holiday season.
The strong performance of new store openings across multiple markets is particularly noteworthy. It demonstrates that Boot Barn's expansion strategy is resonating with consumers in diverse geographical areas, potentially indicating untapped market potential. The company's ability to grow both its physical and online presence simultaneously is impressive in today's challenging retail environment.
The growth in average store transactions without increased promotions is a positive signal. It suggests that Boot Barn's product mix and pricing strategy are aligning well with consumer demand, potentially leading to healthier margins. However, it's important to monitor whether this trend can be sustained, especially as we enter a traditionally promotional holiday season.
Piper Sandler Growth Frontiers Conference
Date: Tuesday, September 10, 2024
Webcast Fireside Chat: 12:30 p.m. Eastern Time
The fireside chat will be webcast live over the internet and can also be accessed at http://investor.bootbarn.com. An online archive of the fireside chat will be available for a period of 90 days on the investor page of the Company’s website.
Same Store Sales Update
In advance of the Piper Sandler Growth Frontiers Conference, the Company is providing an update on its recent performance.
Jim Conroy, President and Chief Executive Officer, commented, “I am pleased with the strong execution from the entire Boot Barn team. We continue to see solid performance from new store openings in multiple markets across the country. From a same store sales perspective, it is encouraging to see sequential improvement from July to August and for the first two weeks of fiscal September. On a quarter-to-date basis, we are now comping positive in both channels, across all four store geographies and in every major merchandise classification. Additionally, the recent strength in same store sales has been driven by year-over-year growth in average store transactions with no meaningful change in our promotional posture. While macro uncertainty continues, we are increasingly confident in the underlying tone of the business as we prepare for the upcoming holiday quarter.”
The following table shows the Company’s preliminary results for same store sales (“SSS”) for the periods indicated below.
| Preliminary | Preliminary | Preliminary | Preliminary | |||||||
| Four Weeks | Four Weeks | Two Weeks | Ten Weeks | |||||||
| Fiscal July | Fiscal August | Fiscal September | Fiscal Second Quarter | |||||||
| Retail Stores SSS | (0.9) |
% |
5.3 |
% |
7.9 |
% |
3.4 |
% |
||
| E-commerce SSS | 5.0 |
% |
12.1 |
% |
11.3 |
% |
9.2 |
% |
||
| Consolidated SSS | (0.3) |
% |
6.0 |
% |
8.2 |
% |
4.0 |
% |
||
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 417 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240909080036/en/
Investor Contact:
ICR, Inc.
Brendon Frey, 203-682-8216
BootBarnIR@icrinc.com
or
Company Contact:
Boot Barn Holdings, Inc.
Mark Dedovesh, 949-453-4489
Senior Vice President, Investor Relations & Financial Planning
BootBarnIRMedia@bootbarn.com
Source: Boot Barn
FAQ
What is Boot Barn's (BOOT) same-store sales performance for the fiscal second quarter?
When is Boot Barn (BOOT) participating in the Piper Sandler Growth Frontiers Conference?
How has Boot Barn's (BOOT) same-store sales performance changed from July to September 2024?
What factors are driving Boot Barn's (BOOT) recent sales strength?
