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The next big thing in footwear retail


Footwear is one of the hottest segments of retail these days and Boot Barn is ready to capitalize on the growing market.

The company reported a 7.3 percent increase in same store sales and reversed a prior year loss during its second quarter ended September 27, its first financial report since completing an initial public stock offering on Nov. 4.

Total sales during the quarter increased 11.7% to $86.4 million due to the 7.3% comp increase and the addition of 11 new stores. Profits during the period were $900,000, or five cents a share, compared to a prior year loss of $1.4 million, or seven cents a share.

“We are pleased to have delivered another quarter of strong operating results. This quarter marks our 20th consecutive quarter of same store sales increases, demonstrating that our offering continues to resonate with a broad and loyal audience of passionate western and country enthusiasts as well as workers seeking dependable products for their everyday needs,” said Jim Conroy, Boot Barn’s CEO.

The company went public on Nov. 4 when it sold 5.75 million shares at $16 a share to generate net proceeds of $82.5 million that was used to repay an existing loan. The IPO strengthened the company’s capital structure and provided flexibility to accelerate growth of the business, according to Conroy.

“We believe there are significant opportunities to expand our business, store base and customer reach, and we are excited about what the future holds for Boot Barn and our shareholders,” Conroy said.

Looking ahead to the company’s third quarter which encompasses the holiday season and fourth quarter ending March 28, 2015, Boot Barn expects to drive sales through a combination of mid-single digit same store sales and the addition of 11 new store in addition to the 158 units it currently operates.

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