Boot Barn(BOOT) - 2025 Q4 - Annual Results

Financial Performance - Net sales increased 16.8% to $453.7 million for the fourth quarter compared to $388.5 million in the prior-year period[4] - Net income for the fourth quarter was $37.5 million, or $1.22 per diluted share, compared to $29.4 million, or $0.96 per diluted share in the prior-year period[4] - For Fiscal Year 2025, net sales increased 14.6% to $1.911 billion from $1.667 billion in Fiscal Year 2024[4] - Gross profit for the fourth quarter was $168.6 million, or 37.1% of net sales, compared to $139.4 million, or 35.9% of net sales in the prior-year period[7] - Gross profit for the fiscal year ended March 29, 2025, was $717.0 million, representing a 16.8% increase compared to $614.4 million in the previous year[23] - Net income for the fiscal year ended March 29, 2025, was $180.9 million, up 23.1% from $147.0 million in the prior year[25] - The company reported a diluted earnings per share of $5.88 for the fiscal year ended March 29, 2025, compared to $4.80 in the previous year, reflecting a 22.5% increase[23] Store Expansion - The Company opened 21 new stores in the fourth quarter, bringing the total store count to 459[4] - The Company plans to open between 65 and 70 new stores in Fiscal Year 2026[12] - The company opened 21 new stores in the quarter ended March 29, 2025, increasing the total store count to 459[27] - The number of stores operating at the end of the period increased to 459 from 438 in the previous quarter[29] - The company has been expanding its store count, with a net increase of 21 stores year-over-year[29] Sales Performance - Same store sales increased 6.0%, with retail store same store sales increasing 5.5% and e-commerce same store sales increasing 9.8%[4] - Same store sales growth for the thirteen weeks ended March 29, 2025, was 6.0% compared to 8.6% in the previous quarter[29] - Average sales per comparable store for the current period was $926, a decrease from $1,301 in the previous quarter[29] - The average sales per comparable store for the previous year was $1,014, indicating a decline in performance[29] Expenses and Financial Management - Selling, general and administrative expenses were $118.9 million, or 26.2% of net sales, compared to $101.2 million, or 26.1% of net sales in the prior-year period[7] - Selling, general and administrative expenses for the fiscal year ended March 29, 2025, were $477.7 million, a 14.7% increase from $416.2 million in the previous year[23] - Cash and cash equivalents at the end of the period were $69.8 million, down from $75.8 million at the end of the previous fiscal year[25] - Total assets increased to $2.02 billion as of March 29, 2025, compared to $1.71 billion as of March 30, 2024[20] - The Company has authorized a $200 million share repurchase program[3] Inventory Management - Boot Barn Holdings, Inc. reported a decrease in inventories to $747.2 million as of March 29, 2025, from $599.1 million as of March 30, 2024, indicating improved inventory management[20] Strategic Initiatives - The company plans to continue expanding its store footprint and enhancing its product offerings to drive future growth[18] - The company continues to focus on enhancing store performance and customer experience through strategic initiatives[29]