Boot Barn Files for IPO

Boot Barn Holdings Inc. is planning for the future.

The Irvine, Calif.-based retailer has filed with the Securities and Exchange Commission for an initial public offering.

While no terms were given for the offering, the move could potentially raise up to $86.25 million. The company plans to list on the New York Stock Exchange under the symbol BOOT.
Boot Barn, which offers Western and work-related footwear, apparel and accessories, boasts 155 stores in 24 states.

The store count was expanded to 155 stores by the end of June from 86 locations at the end of fiscal 2012. Of the new stores, 14 resulted from organic growth and 55 were the result of strategic acquisitions.

The company boasts 19 consecutive quarters of positive same-store sales growth averaging 11.6 percent per quarter and same-store sales growth of 6.7 percent in the 2014 fiscal year.
Net sales increased to $345.9 million in 2014 from $168.7 million in 2012, representing a compound annual growth rate of 43.2 percent.

In 2014, the company reported net income of 5.7 million, up from 2012, where it suffered a net loss of $5.3 million.

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