Why Boot Barn Holdings Inc. Stock Popped Today
Shares of Boot Barn Holdings Inc. (NYSE: BOOT) jumped 17% on Wednesday after the Western work apparel and footwear specialist announced better-than-expected fiscal first-quarter 2018 results.
Quarterly revenue climbed 4.5% year over year to $139.4 million, driven by a combination of 11 new stores having opened over the past year, a 1.3% increase in same-store sales (which was well above guidance for comps to be flat), and Boot Barn's acquisition of the CountryOutfitter.com site in June. On the bottom line, Boot Barn's net income increased by a third to $0.8 million, or $0.03 per share, up from $0.6 million, or $0.02 per share in the same year-ago period. By comparison, analysts' consensus estimates predicted a breakeven quarter on lower revenue of $137.4 million.
Image source: Boot Barn.
Source: Fool.com
