Earnings Wrap: Boot Barn Reports Latest Results + More

FN keeps track of all of our earnings coverage for retailers and footwear companies here.

Jan. 25, 2023: Boot Barn Holdings, Inc. (BOOT)

Revenue: Net income in the third quarter was $52.8 million, or $1.74 per diluted share, compared to $69.2 million, or $2.27 per diluted share in the prior-year period.

Sales: Net sales increased 5.9% over the prior-year period to $514.6 million.

CEO Comments: “Our growth opportunities remain as strong as ever, with very successful recent store openings combined with a robust new store pipeline,” Jim Conroy, president and CEO of Boot Barn, said in a statement. “We feel good about our level of store inventory with weeks of supply back to pre-pandemic levels and are pleased that our retail store same store sales remain positive on a year-to-date basis. As we head into fiscal 2024, we have multiple levers of earnings growth from same store sales, new store openings, and margin accretion from exclusive brands and lower freight charges.”

Outlook: The company now expects total sales for fiscal 2023 of $1.67 billion to $1.68 billion, representing growth of 12.2% to 12.9% over the prior year. This is up from the company’s previous guidance of total sales of $1.65 billion to $1.67 billion for the year.

Earnings from December 2022

Nike Rise Aventura
CREDIT: Courtesy of Nike

Dec. 20, 2022: Nike, Inc. (NKE)

Earnings: Net income was $1.3 billion, flat compared to prior year, and diluted earnings per share was $0.85, increasing 2%.

Sales: Second quarter reported revenues were $13.3 billion, up 17% compared to the prior year.

CEO Comments: “Nike’s results this quarter are a testament to our deep connection with consumers,” said John Donahoe, president and CEO of Nike, Inc. “Our growth was broad-based and was driven by our expanding digital leadership and brand strength. These results give us confidence in delivering the year as our competitive advantages continue to fuel our momentum.”

Lululemon, analyst day

Dec. 8, 2022: Lululemon Athletica Inc. (LULU)

Earnings: Net income in the third quarter was $255.5 million, up from $187.8 million in the same time last year.

Sales: Net revenue increased 28% to $1.9 billion.

CEO Comments: “In the third quarter, we continued to deliver strong and balanced results across the business, demonstrating the significant potential for our brand,” CEO Calvin McDonald said. “Our ongoing momentum is a testament to our innovative products, deep community relationships, and the hard work and dedication of our talented teams around the world. We are pleased with our early holiday season performance and look forward to all that’s ahead for lululemon as we continue to deliver on our Power of Three ×2 growth plan.”

Outlook: For 2022, the company expects net revenue to be in the range of $7.944 billion to $7.994 billion, representing a three-year compound annual growth rate of approximately 26%.

Academy Sports + Outdoors
An Academy Sports + Outdoors storefront.
CREDIT: Courtesy of Academy Sports + Outdoors

Dec. 7, 2022: Academy Sports and Outdoors, Inc. (ASO)

Earnings: Net income in the third quarter of 2022 was $131.7 million, down from $161.3 million the same time last year.

Sales: Net sales were $1.49 billion, a decrease of 6.2%, compared to $1.59 billion the same time last year.

CEO Comments: “The third quarter was challenging for Academy; however, we delivered a good profit performance that, while below last year, was in line with our expectations. Our team continues to execute at a high level in an uncertain environment, delivering results well above pre-pandemic levels on all measures,” Ken Hicks, chairman, president and CEO, said. “Our focus is on our long-term growth opportunities in stores and online through consistent operational excellence, strong financial discipline, and executing our store and omnichannel expansion plans.”

Outlook: The company is lowering its guidance for the full fiscal year 2022. The company now expects net sales for the year between $6.43 billion and $6.49 billion, down from its previous guidance of $6.43 billion to $6.63 billion.

Access exclusive content