Thu, May 15, 8:24 PM (38 days ago)
**Summary of Boot Barn Holdings, Inc. (BOOT) 2025 Annual Report** **Financial Performance:** - **Revenue:** $1.911 billion, up 14.6% from $1.667 billion in 2024. - **Net Income:** $180.9 million, a 23.1% increase from $147.0 million in 2024. - **Earnings per Share (EPS):** $5.93 basic, $5.88 diluted. - **Gross Profit:** $717.0 million, up 16.7% from $614.4 million in 2024. - **Operating Income:** $239.4 million, a 20.8% increase from $198.2 million in 2024. **Strategic Overview:** - **Omni-Channel Leadership:** Continued investment in online and in-store advertising to drive traffic and sales. - **Same Store Sales Growth:** Focus on brand awareness and customer engagement. - **Exclusive Brand Portfolio:** Expansion of exclusive brands to enhance merchandise margins. - **Store Expansion:** Plans to grow store base to approximately 900 stores. - **Economies of Scale:** Leveraging infrastructure and supplier relationships to increase profitability. **Future Outlook:** - **Capital Expenditures:** Estimated at $115.0 million to $120.0 million for 2026. - **Liquidity:** Strong cash position with $69.8 million in cash and $250.0 million available under the revolving credit facility. - **Growth Strategies:** Continued focus on omni-channel capabilities, same store sales growth, and store expansion. **Risk Factors:** - **Economic Conditions:** Sensitivity to consumer spending and economic downturns. - **Supply Chain Risks:** Dependence on international suppliers and potential disruptions. - **Competition:** Intense competition in the retail industry. - **Regulatory Risks:** Compliance with various regulations and potential changes in trade policies. - **Cybersecurity:** Vulnerability to cyber threats and data breaches. **Financial Condition:** - **Cash Position:** $69.8 million as of March 29, 2025. - **Debt:** No outstanding debt under the Wells Fargo Revolver. - **Lease Obligations:** Significant lease payments for stores and distribution centers. **Market Position Changes:** - **Store Count:** 459 stores in 49 states as of March 29, 2025. - **E-commerce:** Continued growth with over 114 million visits to websites in 2025. - **Customer Loyalty:** B Rewarded program with approximately 9.6 million members. **Note:** All amounts are in thousands, 000s.