BOOT BARN Reports Record Earnings in First Quarter of FY2024
August 15, 2023
🌥️Earnings Overview
BOOT BARN ($NYSE:BOOT) reported total revenue of USD 383.7 million for the first quarter of FY2024 on June 30, 2023, a 4.9% increase from the same period the year before. Net income for the quarter, however, saw a decrease of 12.9%, coming in at USD 34.2 million.
Market Price
On Wednesday, BOOT BARN reported record earnings for the first quarter of fiscal year 2024. Despite the positive news and strong performance, BOOT BARN’s stock closed at $89.9, a decrease of 2.8% from its opening price. The record earnings for the first quarter of fiscal year 2024 were driven by strong sales in both brick-and-mortar stores and online channels.
Overall, BOOT BARN’s stock endured a slight decrease in value despite the strong earnings report and increased sales. As BOOT BARN continues to build upon its success, investors are likely to remain confident in the company’s future performance and growth. 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
At GoodWhale, we conducted an analysis of BOOT BARN‘s wellbeing. Our Star Chart shows that BOOT BARN is strong in growth, profitability, and medium in asset, but weak in dividend. BOOT BARN has a high health score of 8/10 with regard to its cashflows and debt, and is capable to sustain future operations in times of crisis. We classify BOOT BARN as a ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. Given its strong competitive advantage, BOOT BARN is likely to attract strong investor interest. Value investors may be attracted by the company’s consistent growth and profitability, while growth investors may be attracted by the potential for above-market returns. Dividend investors may be less interested due to the company’s low dividend yield. All in all, BOOT BARN is an attractive option for investors looking for a strong and stable company with strong competitive advantages. 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
BOOT BARN reported solid first quarter earnings for FY2024 with total revenue of USD 383.7 million, a 4.9% increase from the prior year period. Net income, however, was down 12.9% over the same period to USD 34.2 million. Investors should note the rise in revenue which may indicate the company’s strategies are successful, but they should also take into account the potential for decreased profitability due to increased competition in the market. Further financial analysis is needed to make an informed investment decision.
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