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Friday, Sep 30, 2022
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Boot Barn Sales Increase 19% in Q1 2023

Falls short of analysts' consensus

Boot Barn Holdings Inc. (NYSE: BOOT) said its net sales grew 19% to $365.9 million in the first fiscal quarter ended June 25, just below the analysts’ consensus estimate of $366.9 million.

“Following the tremendous growth and profitability we achieved in fiscal 2022, we are very pleased to report another quarter of double-digit same store sales growth and earnings per share that were ahead of our expectations,” President and CEO Jim Conroy said in a statement. “Our merchandise and marketing strategies combined with our expanding omni-channel capabilities continue to fuel strong full-price selling in stores and online. Our new stores are proving to be highly productive and we feel great about our real estate pipeline.”

The Irvine Western-inspired workwear retailer said its net sales growth was driven by the 10% increase in consolidated same store sales and incremental sales from new stores opened over the past year.

Shares in Boot Barn fell 1.3% to $69.00 per share and a $2 billion market cap in after-hours trading.

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