North American fashion e-commerce is on a downward trend, but Boot Barn's revenue is encouraging

North American fashion e-commerce is on a downward trend, but Boot Barn's revenue is encouraging

Boot Barn , whose marketing centers on evoking Americans ’ romantic notions of the American West, reported a 6.5 percent sales increase to $ 302.3 million in its fiscal third quarter ended Dec. 26. Same-store sales, excluding the industry watchdog point of new stores or the impact of new stores, rose 4.6 percent.

 

Boot Barn said online sales rose 16 per cent in the last quarter, helped by a third of new customers.

 

By contrast, apparel and department store retailers both reported double-digit sales declines as the holiday quarter ended , Commerce Department data this month showed. Sales at U.S. apparel and footwear retailers fell 26 % last year, the worst performing segment, government data showed.

 

“Our customers truly enjoy shopping in our stores,” President and CEO James Conroy said on the call. “Even against the difficult backdrop of Covid-19 , our new store openings in new markets, particularly in the Northeast, are exceeding our expectations.”

 

He said that while the coronavirus has limited customer traffic, online sales still only account for a fifth of the company's sales, suggesting customers are eager to shop in stores.

 

"Barn Barn is a uniquely positioned retailer and an authority in the growing $ 20 billion western and workwear industry, with no national competitor matching its operations , " Cowen & Co. analyst Max Rakhlenko said in a note. "Barn Barn is poised to continue to extend its lead in a highly fragmented industry and take share from smaller peers. "

 

The company also attracts customers through its own exclusive brands, which now account for nearly a quarter of its sales. Boot Barn said at a recent ICR conference that two of its brands, Cody James boots for men and Shyanne boots for women , are among its top five best-selling brands, which also include Ariat and Wrangler .

 

Meanwhile, its loyalty program helps attract customers, as the bulk of its sales come from rewards members. UBS analyst Jay Sole said in a report this week that Boot Barn "offers a differentiated customer experience."

 


North America

Fashion e-commerce

Boot Barn

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