American apparel retailer Boot Barn exits Q2 with strong earnings

06 Dec '21

2 min read

Pic: Boot Barn

Boot Barn Holdings, a US-based lifestyle retailer of footwear and apparel, has reported a 69.5 per cent sales growth to $312.7 million in the second quarter (Q2) of FY22 ended on September 25, 2021, against the sales of $184.5 million in the same period of previous fiscal. Net income for the quarter achieved a multifold jump to $37.8 million (Q2 FY21: $5.7 million).

“We are experiencing strong gains both in stores and online fuelled by an increasing customer count, a compelling assortment and a fulfilling shopping experience. The consistency and duration of the outsized growth in sales seems to indicate that we have captured significant market share which should be sustainable,” Jim Conroy, president and chief executive officer at Boot Barn, said in a press release.

During Q2, retail stores sales surged 76 per cent to $268.4 million ($152.9 million), while e-commerce expanded 40 per cent to $44.3 million ($31.6 million).

Additionally, gross profit for the quarter rose to $118.1 million ($55.5 million). Income from operations accelerated to $50.1 million ($10.0 million).

“With our sales momentum continuing thus far in the third quarter and inventories in a solid position, we are optimistic about our prospects for the upcoming holiday season. Looking further ahead, we see a long runway for sustained growth and believe the company is poised to deliver increased shareholder value for years to come,” Conroy concluded.

In its outlook, the American company said that it expects a 10 per cent growth from new unit during FY22, with capital expenditures in the range of $36.0 billion to $39.0 billion.

Fibre2Fashion News Desk (JL)

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