Boot Barn(BOOT) - 2025 Q1 - Quarterly Results

Financial Performance - Net sales increased by 10.3% to $423.4 million compared to$ 383.7 million in the prior-year period[1][2] - Gross profit was $156.7 million, maintaining a gross profit margin of 37.0%[3] - Net income increased to$ 38.9 million, or $1.26 per diluted share, compared to$ 34.3 million, or $1.13 per diluted share in the prior-year period[5] - Net sales for the thirteen weeks ended June 29, 2024, were$ 423,386,000, an increase of 10.4% compared to $383,695,000 for the same period last year[17] - Gross profit for the same period was$ 156,749,000, representing a gross margin of 37.0%, up from $141,963,000 and a margin of 36.9% in the prior year[17] - Net income for the thirteen weeks ended June 29, 2024, was$ 38,909,000, compared to $34,253,000 for the same period last year, reflecting a year-over-year increase of 13.3%[17] - Basic earnings per share increased to$ 1.28 for the current quarter, up from $1.14 in the same quarter last year[17] Sales and Store Performance - Same store sales grew by 1.4%, with retail store same store sales up 0.8% and e-commerce same store sales up 6.7%[1][2] - Same store sales growth for the quarter was 1.4%, a recovery from a decline of 5.9% in the previous quarter[21] - Same store sales are expected to decline approximately (1.0)% to grow by 1.2% for fiscal year 2025[9] Expenses and Financial Guidance - Selling, general and administrative expenses rose to$ 106.5 million, or 25.2% of net sales, compared to 24.9% in the prior-year period[4] - Total sales guidance for fiscal year 2025 is set between $1.816 billion and$ 1.850 billion, representing growth of 8.9% to 11.0%[9] Store Expansion and Capital Expenditures - The company plans to open 60 new stores in fiscal year 2025[9] - The company opened 11 new stores during the quarter, bringing the total store count to 411 as of June 29, 2024[20] - Capital expenditures are projected to be between $115.0 million and$ 120.0 million for fiscal year 2025[11] Cash and Assets - The company had cash of $83 million and no drawn amounts under its$ 250 million revolving credit facility as of June 29, 2024[8] - Cash and cash equivalents at the end of the period were $83,387,000, up from$ 17,099,000 at the end of the previous year[19] - Total assets increased to $1,774,459,000 as of June 29, 2024, compared to$ 1,705,592,000 at the end of the previous quarter[16] Operating Cash Flow - Operating cash flow for the thirteen weeks ended June 29, 2024, was $41,311,000, compared to$ 70,802,000 for the same period last year[19] - The company reported a total of 4,547 thousand square feet of retail store selling space at the end of the period, an increase from 4,371 thousand square feet in the previous quarter[21]