Boot Barn Holdings Inc. lifted its EPS outlook for the fiscal year ending March 31, 2018, as it reported a 12.7% year-over-year growth in third-quarter sales Jan. 31.
The retailer, which previously expected diluted EPS for fiscal 2018 to come in at 85 cents to 89 cents, raised it to the new range of 95 cents to 96 cents on a net income estimate of between $26.2 million and $26.5 million. The estimate includes $6.8 million in tax benefit related to deferred tax liabilities and lower federal corporate tax rates.
Boot Barn also projects to open 10 new outlets in fiscal 2018.
The company, which reported a 5.2% growth in third-quarter same store sales, expects a same-store sales rise of 4% to 5% in the fiscal fourth quarter ending March 31. It forecasts diluted EPS to be in the range of 15 cents to 16 cents on a net income outlook range of $4.2 million to $4.5 million.
For the third quarter ended Dec. 30, 2017, Boot Barn reported a 12.7% year-over-year rise of $224.7 million in sales, compared to $199.4 million a year earlier. Net income per diluted share for the period was 73 cents, higher than the 39 cents it reported for the comparable quarter in 2016. Excluding the favorable impact of the corporate tax reform, the company earned 46 cents per share, at par with analysts' mean consensus estimate compiled by S&P Capital IQ.
