Irvine Western retailer Boot Barn Holdings Inc. (NYSE: BOOT) rode out its fiscal first quarter to reveal better-than-expected results for the period.
The company reported net sales of $147.8 million for the quarter ended June 27. That was off 20.5% from the year-ago period but still beat consensus estimates of $137.5 million.
Boot Barn recorded a loss of $500,000, which came in better than analyst estimates of a $4.3 million loss for the quarter.
CEO Jim Conroy noted comparable sales improve month to month in the quarter, going from a 45% decline in April to a 3% increase in June. Although shopping began to taper off in July with the uptick in COVID cases, customers began opening their wallets back up in mid-July.
Investors seized on the results with shares up 10.7% in after-hours trading Tuesday to $20.32. The retailer had a recent market cap of $586.4 million.
