Western retailer Boot Barn Holdings Inc. (NYSE: BOOT) was up in after-hours trading Wednesday on better-than-expected quarterly results and the company’s store growth outlook.
Shares climbed 1.6% to $101.90 after the earnings beat.
The Irvine-based company, with a market cap of $3 billion, said net sales in its fiscal second quarter ended Sept. 26 totaled $312.7 million, up 69.5% from the prior-year period. That came in above consensus estimates of $291 million.
Boot Barn’s net income for the quarter was $37.9 million, up from $5.8 million in the prior year and beat the $28.3 million analysts on average expected.
President and CEO Jim Conroy noted in a statement the company’s growth is being driven by both in-store and online sales.
Conroy added Boot Barn is optimistic about the upcoming holiday selling season, with the company expected to grow its store base by 10% in the current fiscal year. Boot Barn currently counts 281 locations in 36 states.
The quarterly results also came with news Senior Vice President of Finance and Investor Relations Jim Watkins was promoted to Chief Financial Officer. Greg Hackman, who was CFO and COO of the retailer, remains as executive vice president and chief operating officer.
The change is effective Nov. 1.
