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Shares of Boot Barn Holdings kick higher as fiscal 4Q earnings beat estimates

The company earned a profit $8.7 million or $0.30 a share, beating the consensus estimate of $0.27 per share
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The company opened six new stores during the quarter, and now has a total of 238 stores in 31 states

Investors on Friday kicked up shares of Boot Barn Holdings Inc. (NASDAQ:BOOT) a day after the Western-themed footwear and apparel retailer reported fiscal fourth-quarter earnings that beat analysts’ estimates.

Boot Barn on Wednesday said it earned a profit of $8.7 million, or $0.30 a share, compared with $6.9 million, or $0.24 a share in the prior-year period. Estimates called for earnings of $0.27 a share.

The stock recently traded up nearly 4% to $28.41 a share on heavier-than-average volume.

READ: Boot Barn Holdings to be added to S&P SmallCap 600 Index

The Irvine, California-based company also posted revenue of $192.8 million for the quarter that ended March 30, also surpassing Wall Street’s forecasts of $189.1 million.

Boot Barn said net sales increased 12.9% to $192.8 million and same-store sales increased 8.7%.

The company opened six new stores during the quarter, and now has a total of 238 stores in 31 states.

Boot Barn said it expects revenue in the range of $178 million to $180 million for its fiscal first quarter that ends in July. And the company predicts full-year earnings in a range of $1.42 to $1.50 per share.

“We have strong momentum as we head into fiscal 2020 and we remain very excited about our growth prospects for the current year and beyond,” said CEO Jim Conroy.

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