Boot Barn Holdings Inc. reported increases in revenue and earnings for the fourth quarter and full fiscal 2015, sending its shares up more than 6% to a market value of about $620 million in trading Friday.
The Irvine-based western apparel and footwear retailer posted a 16% increase in revenue to $103.3 million for the quarter that ended March 28.
The retailer’s net income for the fourth quarter was $2.6 million, or 10 cents per diluted share, reflecting the effects of a secondary offering. It earned $1.8 million or 9 cents per diluted share during the same period last year.
Earnings were $4.6 million without the adjustments, or 17 cents per diluted share. Analysts anticipated earnings of 12 cents per share.
Same-store sales, which include e-commerce sales, increased 7.3%. The retailer opened 18 new locations for a total of 169 in 26 states. It was the 22nd consecutive quarter of same-store sales growth
“Our financial results reflect the strength of our business as well as a relentless focus on execution,” Chief Executive Jim Conroy said in a statement.
Full year revenue totaled $402.7 million, a 16.4% uptick from $345.9 million for the same period last year. Full year earnings were $13.7 million, or 54 cents per diluted share, compared with $5.4 million or 28 cents per diluted share for the prior year period.
Boot Barn’s adjusted earnings increased 25.7% to $19.9 million, or 76 cents per diluted share. Analysts expected 70 cents per share in earnings.
The company opened four stores in the last three months and expects to open 22 new stores in fiscal year 2016. It said it anticipates same store and e-commerce sales growth in the “low to mid-single digits” and its net income in the range from $21.9 million to $23.1 million.
