Boot Barn Kicking Store Openings into Higher Gear

Boot Barn Holdings Inc. (Irvine, Calif.) said it plans to open 52 new stores this year. The specialty retailer included that forecast in reporting financial results for its fourth fiscal quarter and fiscal year ended April 1.

In its just-ended fiscal year, the seller of western and work-related footwear, apparel and accessories for men, women and children opened 45 stores, bringing its total to 345.

“Our new store opening efforts continue to pay off as we added 45 new stores, including expansion into five new states,” said Jim Conroy, President and CEO. “Once again, our exclusive brands have exceeded our expectations with penetration growing nearly 6 percentage points during fiscal 2023. I am encouraged by the ongoing progress across each of our four strategic initiatives and feel the company is well positioned for continued growth.”

The retailer’s operating results for its just-concluded fiscal year include net sales of $1.658 billion, up 11.4 percent from the prior fiscal year, and a gross profit of $610.6 million, up from $575.1 million.

Earlier this year, the brand found itself in the spotlight after stock analysts at Jeffries noted that music superstar Taylor Swift’s current “Eras” tour could translate into big sales for the brand, as concertgoers plan what to wear to the shows.

“With 2.4 million Taylor Swift tickets sold on Ticketmaster and Seat Geek, which averages out to [about 46,000] per venue, we believe this help will drive top-line for [Boot Barn],” the analysts wrote.