Boot Barn Holdings Inc (BOOT)

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oot Barn Holdings, Inc. Announces Preliminary Third Quarter Results that Beat Sales and EPS Guidance and Participation in the 2019 ICR Conference

IRVINE, Calif.--(BUSINESS WIRE)--January 11, 2019--Boot Barn Holdings, Inc. (NYSE:BOOT) today announced preliminary results for the third quarter of fiscal year 2019 ended December 29, 2018 in advance of its participation in the ICR Conference on Monday, January 14, 2019.

Preliminary Results for the Third Quarter of Fiscal Year 2019

For the third quarter ended December 29, 2018, the Company expects to report:

Net sales increased 13% to approximately $254 million.
Same store sales increased approximately 9.2%, with double-digit growth in e-commerce and high single digit growth in retail stores. This compares with third quarter guidance of 5.0% to 7.0%.
Net income per diluted share of approximately $0.66 based on 28.9 million weighted average diluted shares outstanding. Net income per diluted share in the prior-year period was $0.73, or $0.46 when excluding approximately $0.27 related to tax reform.

Jim Conroy, Chief Executive Officer, commented, “I am thrilled with our third quarter performance, which included sales growth in virtually all major product categories and geographic regions while generating strong merchandise margin expansion. Sales momentum in our retail stores continued as we have now reported 7 consecutive quarters of same store sales growth in our stores. We also delivered double-digit growth in e-commerce sales with a healthy increase in margin. The team executed extremely well from a merchandising, marketing and operational perspective, driving strong top line and bottom line growth. While early, I am also quite pleased with current business and a solid start to our fiscal fourth quarter.”

The foregoing expected results are preliminary and remain subject to the completion of normal quarter end accounting procedures and closing adjustments. The Company currently plans to report third quarter results on February 5, 2019, at which time it will also provide fourth quarter guidance.

2019 ICR Conference

The Company will be presenting at the 2019 ICR Conference held at the JW Marriott Orlando Grande Lakes in Orlando, Florida, on Monday, January 14, 2019 at 2:00pm Eastern Standard Time. The slide presentation is available on the “Events & Presentations” section at http://investor.bootbarn.com. The audio portion of the presentation will be webcast live over the internet and can also be accessed at http://investor.bootbarn.com. An online archive will be available for a period of 90 days following the presentation.