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Boot Barn Beats; Shares Slip on Guidance

Shares of Western wear retailer Boot Barn Holdings Inc. (NYSE: BOOT) slid in after-hours trading Tuesday following the release of the company’s quarterly results and guidance.

The Irvine-based company’s stock was off 6.6% to $42.26 for a market cap of $1.2 billion.

Boot Barn said it expects revenue for the March quarter to be in the range of $212 million to $214 million. That compares with consensus estimates of $213.8 million.

Net income for the March quarter is expected to come in at $10.6 million to $11.2 million, missing analyst expectations of $11.5 million.

The guidance also came with the company’s results for its third quarter ended Dec. 28: revenue of $284 million, up 11.8% from the year-ago period and beating analyst estimates of $282.4 million.

The company ended the December quarter with net income of $24.8 million, up from $19 million a year earlier and above Wall Street analyst estimates of $20.3 million.

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