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Boot Barn sales rise 6.5% to $302 mn in Q3 FY21

27
Jan '21

Pic: Boot Barn

Boot Barn Holdings Inc, a US-based lifestyle retailer of footwear and apparel, reported 6.5 per cent sales increase to $302.3 million in its third quarter (Q3) FY21 ended on December 26, 2020, compared to the sales of $283.9 million in the same period last year. Company's net income for the quarter rose to $29.5 million (Q3 FY20: $24.8 million).

“Our strong third quarter results against a difficult economic backdrop demonstrate the power of our business model. The work we’ve done over the last several years successfully executing our key strategic initiatives has provided the foundation to navigate the ongoing headwinds from Covid-19 and deliver mid-single digit same store sales growth and a 150-basis point improvement in operating margin,” Jim Conroy, chief executive officer, said in a press release.

Gross profit for Q3 FY21 was $106.8 million ($97.0 million). Selling, general and administrative expenses were $65.2 million ($62.1 million). Company’s income from operations were up 19.0 per cent to $41.6 million ($35.0 million).

“While the near term is likely to remain volatile, we believe our merchandising strategies, omni-channel capabilities and organisational expertise, combined with the adjustments we’ve made to our operating model during the pandemic, have us well positioned to build on our recent accomplishments and head into fiscal 2022 with good momentum,” Conroy said.

Fibre2Fashion News Desk (JL)

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