Boot Barn beats expectations in Q2

Boot Barn Holdings, Inc reported second quarter results on Monday that beat expectations with a double-digit sales jump.

For the quarter ended September 29, 2018, the work and Western boot and apparel retailer reported net income of $4.5 million, or 16 cents per share, up from $1.1 million, or 4 cents per share, last year.

Net sales at the Irvine-based company increased 17.5 percent to $168.1 million, with same store sales up 11.3 percent.

“We are very pleased with our second quarter results and the underlying strength in the business. Same store sales increased double digits, both in our retail stores and online […] We are well positioned to continue driving improved results during our upcoming holiday quarter and over the long term,” said CEO Jim Conroy.

During the quarter, it added three stores via openings and acquisitions bringing its total to 232 sites in 31 states.

For the third quarter, the company expects net income per diluted share of $0.56 to $0.60 and same store sales growth of 5 percent to 7 percent.

“We are also pleased with sales through the first three weeks of our fiscal third quarter, which continue to be very strong both in our retail stores and online,” Conroy added.

Meanwhile, for the fiscal year ending March 30, 2019, the company expects net income of $33.6 million to $35.8 million and same store sales growth of 6.5 percent to 8 percent.

Boot Barn beats expectations in Q2

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