Boot Barn Q2 earnings meet the Street

Boot Barn’s second quarter performance rose slightly, meeting Wall Street estimates.



The western-influenced specialty retailer reported $134 million in revenue for the second quarter ending Sept. 24, 2016, a 3.3% increase from $129.7 million in the prior-year period. This jump also exceeded Wall Street’s estimate of $131.61 million. Boot Barn credited the increase to 13 new stores opened over the past 12 months, and a 1.8% increase in same-store sales. Two of those stores opened the chain during the second quarter.



In other gains, gross profit increased 1.6% to $36.4 million, compared to gross profit of $35.9 million in the prior-year period.



“I am pleased with our financial performance during the second quarter, in which we grew net sales, and achieved positive same store sales which reflects the strength of the Boot Barn brand, as well as the strategies we put in place to mitigate external pressures in oil and commodity driven markets,” said Jim Conroy, Boot Barn’s CEO.



“We met our expectations for the quarter and are optimistic about the second half of the year,” he added. “Our new merchandise categories and product offerings are resonating well with our customers, and we believe we have appropriately invested in the right level and composition of inventory.”