Boot Barn annual sales surpass one billion dollars for first time

Boot Barn, a US retailer of western and work-related footwear and apparel, saw its annual sales surpass the one billion dollar mark for the first time in the year ending March 26.

The company made full-year net sales of 1.488 billion dollars, representing growth of 66.6 percent on a year-over-year basis and 76 percent on a year-over-two-years basis.

Its net income for the year came in at 192.5 million dollars compared to 59.4 million dollars a year earlier.

In the fourth quarter, sales increased to 383.3 million dollars, up 48.1 percent from a year ago and up 103.2 percent from two years ago.

Meanwhile, its net income for the quarter came in at 44.7 million dollars, up from 24.6 million dollars a year earlier.

Strong full-price sales

“It was an incredible year by every measure,” Boot Barn president and CEO Jim Conroy told investors.

“Importantly, our performance was highlighted by very strong full-price selling, which contributed to a 270-basis point increase in merchandise margin and a more than tripling of our earnings per share to a record 6.33 dollars,” Conroy said.

He added that he was “excited about the strength in the business” in the first part of the current year, with consolidated same store sales in the first six weeks of fiscal 2023 up 12 percent on the prior year.

For the full year, the company expects total sales of 1.74 billion dollars and net income of 197 million dollars.