Boot Barn keeps kicking it up

Boot Barn says its integration of the Sheplers chain helped the company report is 23rd consecutive increase in quarterly same store sales.

The California-based retailer posted a5.6% increase in same store sales for the first quarter ended June 27. The company also posteda 16.4% increase in revenue to $96 million. That’s up from $82.5 million in the first quarter of fiscal 2015.The retailer’s net income for the quarter was $2.3 million, or 8 cents per diluted share. Analysts expected 11 cents per diluted share. The chain had income of $1.4 million for the same quarter a year ago.

“Double digit net sales growth was driven by the contribution from new stores as well as our 23rd consecutive quarterly increase in same store sales,” CEO Jim Conroy said. “We also saw a healthy improvement in merchandise margins year-over-year, achieved growth in adjusted operating income of 23.6% and more than doubled our net income on a pro forma adjusted basis.”

The company expects to open 22 new stores over the next three quarter, with 14 set to open in the next three months. It said it anticipates same store and e-commerce sales growth for the full year in the “low to mid-single digits,” and boosted its outlook on earning to a range of $23.2 million to $24.5 million.

The retailer opened seven new stores and ended the quarter with 176 stores in 28 states.