Boot Barn Holdings Inc (BOOT) 2018年年度报告「NYSE」.pdf

1、Dear Shareholders,While there are so many reasons to be grateful and proud of Boot Barns financial performance in fiscal 2018,I would be remiss to not begin with a bit of a broader perspective.Last year,members of our Boot Barn family and the rest of the country were impacted by hurricanes,a tragedy

2、 at a country music concert in Las Vegas and wildfires across the west.While it was disheartening to watch these events unfold,it was equally invigorating to see how our employees,customers and Americans everywhere came together in a spirit of unity and togetherness to help one another.It reminded m

3、e of just how fortunate I am to lead this terrific company and a truly amazing family of Boot Barn associates across the country.From a business perspective,I am extremely pleased with Boot Barns performance and the tremendous accomplishments of the team in Fiscal 2018.Our financial results exceeded

4、 the guidance that we provided for the business.For the year,we achieved same store sales growth of 5.2%,50 basis points of merchandise margin expansion,80 basis points of operating margin improvement,and a 100%increase in net income.Additionally,we were able to add nine stores through a combination

5、 of new stores and acquisitions,including the successful proof of concept with the completion of a tuck-in acquisition of four stores named Woods Boots.After being impacted by a period of low commodity prices in some of our key markets,as well as overall softness in the retail environment,the busine

6、ss appears to have regained momentum as we head into the coming year.We maintain our focus on executing against the four strategic initiatives that have been in place for the past several years,which I would like to outline as follows:1.Driving same-store sales growth We grew same-store sales by 5.2