Boot Barn Holdings, Inc. Announces Preliminary Third Quarter Results and Participation in the 2024 ICR Conference

Boot Barn Holdings, Inc. (NYSE: BOOT) today announced preliminary results for the third quarter of fiscal year 2024 ended December 30, 2023 in advance of its participation in the ICR Conference on Monday, January 8, 2024.

Preliminary Results for the Third Quarter of Fiscal Year 2024

For the third quarter ended December 30, 2023, the Company expects to report:

• Net sales of $520.4 million, representing growth of 1.1% over the prior year.
• Same store sales decline of 9.7%, with a retail store same store sales decline of 9.4% and an e-commerce same store sales decline of 11.3%.
• Net income per diluted share at or above the high end of its previously announced guidance range of $1.79.
• The Company opened 11 new stores in the third quarter, or 37 stores year-to-date, bringing its total store count to 382.

Jim Conroy, President and Chief Executive Officer, commented “Our third quarter played out largely as we expected with new store sales offsetting a decline in same store sales as we cycled outsized comp growth in prior years. We opened 11 new stores in the quarter, contributing to a 1.1% growth in total net sales. This modest sales growth combined with discipline around promotions and strong expense control drove an increase in earnings per share compared to last year.

The performance in the quarter demonstrates the power of the Boot Barn model where multiple levers can work in tandem to drive earnings growth. Additionally, our average store revenue continues to far exceed pre-pandemic sales levels despite the reduction in comparable store sales. I am proud of the Boot Barn team for excellent execution and look forward to the new calendar year and our fourth fiscal 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 January 31, 2024, at which time it will also provide fourth quarter guidance.

2024 ICR Conference

The Company will be presenting at the 2024 ICR Conference on Monday, January 8, 2024 at 2:30 pm Eastern Standard Time. The slide presentation is available on the “Events & Presentations” section at http://investor.bootbarn.com. 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.