Boot Barn expects third-quarter earnings to land 'at or above the high end' of expectations; shares rally

Western-themed retail chain Boot Barn Inc. (BOOT) on Friday said it expected third-quarter per-share profit to come in "at or above the high end" of previous expectations, while forecasting sales trends that were below analysts' estimates. Shares jumped 5.6% after hours. The company said it expected earnings per share "at or above the high end of its previously announced guidance range of $1.79," compared with FactSet forecasts for $1.72. Boot Barn said it expected sales of $520.4 million for the period, up 1.1% but below prior forecasts from the company and Wall Street. The chain said it expected a same-store sales drop of 9.7%, compared with earlier company forecasts for an 8% to 10.5% decline and FactSet forecasts for a 9.1% decrease. "This modest sales growth combined with discipline around promotions and strong expense control drove an increase in earnings per share compared to last year," Chief Executive Jim Conroy said in a statement. Boot Barn is set to report full third-quarter results on Jan. 31.

-Bill Peters

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

01-05-24 1724ET

Copyright (c) 2024 Dow Jones & Company, Inc.