Boot Barn Holdings, a US-based lifestyle retailer of footwear and apparel, has reported 107.3 per cent sales jump to $306.3 million in its first quarter (Q1) of FY22 ended on June 27, 2021, against same period of previous fiscal, while increased 64.9 per cent against FY20. Net income rose to $40.6 million compared to loss of $0.5 million in Q1 FY21.
Boot Barn Holdings, a US-based lifestyle retailer of footwear and apparel, has reported 107.3 per cent sales jump to $306.3 million in its first quarter (Q1) of FY22 ended on June 27, 2021, against same period of previous fiscal, while increased 64.9 per cent against FY20. Net income rose to $40.6 million compared to loss of $0.5 million in Q1 FY21.#
“It has been a fantastic start to fiscal 2022 with sales and profitability up significantly on a two-year basis. While we believe there are macro tailwinds at play, our strategy to expand our addressable market, coupled with superb execution by the entire team in securing merchandise and staffing the stores to meet the additional demand, has resulted in another exceptional quarter,” Jim Conroy, president and chief executive officer at Boot Barn, said in a press release.
Boot Barn Holdings, a US-based lifestyle retailer of footwear and apparel, has reported 107.3 per cent sales jump to $306.3 million in its first quarter (Q1) of FY22 ended on June 27, 2021, against same period of previous fiscal, while increased 64.9 per cent against FY20. Net income rose to $40.6 million compared to loss of $0.5 million in Q1 FY21.#
The company said that its retail stores sales for Q1 FY22 surged 140 per cent to $265.1 million (Q1 FY21: $110.6 million), whereas e-commerce sales grew 11 per cent to $41.2 million ($37.2 million).
Boot Barn Holdings, a US-based lifestyle retailer of footwear and apparel, has reported 107.3 per cent sales jump to $306.3 million in its first quarter (Q1) of FY22 ended on June 27, 2021, against same period of previous fiscal, while increased 64.9 per cent against FY20. Net income rose to $40.6 million compared to loss of $0.5 million in Q1 FY21.#
With higher sales during the quarter, gross profit improved 38.0 per cent to $116.4 million ($40.2 million). Moreover, income from operations expanded to $53.6 million ($1.8 million), representing 17.2 per cent of the total sales.
Boot Barn Holdings, a US-based lifestyle retailer of footwear and apparel, has reported 107.3 per cent sales jump to $306.3 million in its first quarter (Q1) of FY22 ended on June 27, 2021, against same period of previous fiscal, while increased 64.9 per cent against FY20. Net income rose to $40.6 million compared to loss of $0.5 million in Q1 FY21.#
“We believe that our sharp focus on our merchandise, marketing and omni-channel initiatives over the past several years combined with the expansion of our store base has increased our market share and strengthened our foundation for outsized growth. We have maintained our strong momentum thus far in the second quarter as the team continues to perform extremely well managing the ongoing strength in demand,” Conroy concluded.
Fibre2Fashion News Desk (JL)
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