Boot Barn Holdings, Inc (BOOT) has reported an 155.73 percent jump in profit for the quarter ended Apr. 01, 2017. The company has earned $2.59 million, or $0.10 a share in the quarter, compared with $1.01 million, or $0.04 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $3.30 million, or $0.12 a share compared with $2.47 million or $0.09 a share, a year ago. Revenue during the quarter grew 9.06 percent to $163 million from $149.47 million in the previous year period. Gross margin for the quarter expanded 191 basis points over the previous year period to 30.26 percent. Total expenses were 95.05 percent of quarterly revenues, down from 96.24 percent for the same period last year. This has led to an improvement of 119 basis points in operating margin to 4.95 percent.
Operating income for the quarter was $8.06 million, compared with $5.62 million in the previous year period.
However, the adjusted operating income for the quarter stood at $9.23 million compared to $7.65 million in the prior year period. At the same time, adjusted operating margin improved 54 basis points in the quarter to 5.66 percent from 5.12 percent in the last year period.
Jim Conroy, chief executive officer, commented, “While we reported slightly negative consolidated same store sales for the quarter, we are pleased that comparable sales in our physical stores improved on a sequential basis, and we were able to achieve 30 basis points of improvement in our core merchandise margin. Unfortunately, our fourth quarter earnings per share fell short of our expectations due to lower than expected retail store sales, unanticipated operating expenses, and disruption in sales at sheplers.com arising from the transition of the e-commerce site to a new software platform. We are continuing to work to improve the site performance and return sheplers.com to positive sales growth.”
For fiscal year 2018, Boot Barn Holdings, Inc forecasts net income to be in the range of $14 million to $15.40 million. For fiscal year 2018, the company expects operating income to be in the range of $37.80 million to $40 million. For financial year 2018, the company projects diluted earnings per share to be in the range of $0.52 to $0.57.
Operating cash flow improves
Boot Barn Holdings, Inc has generated cash of $41.15 million from operating activities during the year, up 24.97 percent or $8.22 million, when compared with the last year. The company has spent $23.60 million cash to meet investing activities during the year as against cash outgo of $182.67 million in the last year.
The company has spent $16.71 million cash to carry out financing activities during the year as against cash inflow of $155.49 million in the last year period.
Cash and cash equivalents stood at $8.04 million as on Apr. 01, 2017, up 11.67 percent or $0.84 million from $7.20 million on Mar. 26, 2016.
Working capital increases sharply
Boot Barn Holdings, Inc has recorded an increase in the working capital over the last year. It stood at $76.50 million as at Apr. 01, 2017, up 1,143.93 percent or $70.35 million from $6.15 million on Mar. 26, 2016.
Debt comes down
Boot Barn Holdings, Inc has recorded a decline in total debt over the last one year. It stood at $233.68 million as on Apr. 01, 2017, down 6.79 percent or $17.02 million from $250.70 million on Mar. 26, 2016. Total debt was 41.32 percent of total assets as on Apr. 01, 2017, compared with 89.28 percent on Mar. 26, 2016. Debt to equity ratio was at 1.30 as on Apr. 01, 2017, down from 10.62 as on Mar. 26, 2016.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
