Boot Barn Reports First Quarter Earnings Results for FY2024
August 23, 2023
🌥️Earnings Overview
BOOT BARN ($NYSE:BOOT) released the financial results for the first quarter of FY2024, which ended June 30 2023, revealing that total revenue for the period was USD 383.7 million, a 4.9% increase from the previous year. However, net income decreased by 12.9%, amounting to USD 34.2 million.
Stock Price
The company saw a decrease of 2.8% in their stock price within one day, opening at $91.4 and closing at $89.9 from the previous closing price of $92.6. This decrease in stock price was a concerning issue for investors, but the company was able to beat analysts’ estimates and report better-than-expected revenue. While the decrease in stock price did cause concern amongst investors, it is not necessarily indicative of the company’s overall performance. Boot Barn’s solid first quarter results show that the company is on track for another strong fiscal year and investors may want to reconsider investing in the company if they have not already done so. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Boot Barn. More…
| Total Revenues | Net Income | Net Margin |
| 1.68k | 165.49 | 9.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Boot Barn. More…
| Operations | Investing | Financing |
| 185.46 | -133.59 | -50.78 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Boot Barn. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.51k | 692.77 | 27.15 |
Key Ratios Snapshot
Some of the financial key ratios for Boot Barn are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.5% | 56.0% | 13.5% |
| FCF Margin | ROE | ROA |
| 3.1% | 17.8% | 9.4% |
Analysis
GoodWhale performed an analysis of BOOT BARN‘s wellbeing to evaluate its performance. Our Star Chart showed that BOOT BARN was strong in growth and profitability, while it was medium in asset and weak in dividend. We also found that BOOT BARN had a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable to safely ride out any crisis without the risk of bankruptcy. Based on our analysis, we classified BOOT BARN as ‘gorilla’ – a type of company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. Investors looking for a company with a strong competitive advantage and stable, consistent growth may be interested in BOOT BARN. More…
Peers
The competition in the retail sector is fierce, with companies vying for market share in a number of ways. Boot Barn Holdings Inc is no exception, and competes against Christopher & Banks Corp, C’sMEN Co Ltd, and J.Jill Inc in a number of ways. While each company has its own strengths and weaknesses, the competition between them is intense, and the battle for market share is likely to continue.
– Christopher & Banks Corp ($OTCPK:CBKCQ)
Christopher & Banks Corporation is a Minnesota-based retailer of women’s apparel, accessories and footwear. The company operates under the Christopher & Banks, CJ Banks, and Missy & Plus names. It also offers merchandise through its e-commerce website and through a nationwide network of outlet stores. As of February 3, 2018, the company operated 942 stores in 44 states.
– C’sMEN Co Ltd ($TSE:3083)
MEN Co Ltd is a Japanese company that manufactures and sells electronic components. The company has a market cap of 1.52B as of 2022 and a Return on Equity of -12.39%. The company’s products include semiconductors, integrated circuits, and other electronic components.
– J.Jill Inc ($NYSE:JILL)
J.Jill Inc is a retailer of women’s apparel, accessories, and footwear. It operates through two segments, Retail and Direct. The company offers its products through retail stores, catalogs, and online. As of 2022, J.Jill Inc had a market cap of 186.02M and a Return on Equity of -233.39%. The company has been struggling in recent years, as evidenced by its negative ROE. J.Jill Inc is currently in the process of closing some of its stores in an effort to turn things around.
Summary
An investment analysis of BOOT BARN reveals mixed results for the first quarter of FY2024. Total revenue increased by 4.9%, however, net income decreased by 12.9%. This suggests that the company may be facing some challenges to maintain consistent profitability. Investors should monitor the company’s performance in the coming quarters to gain a better understanding of its financial health and prospects for the future.
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