Boot Barn Holdings Shares Rise 3.5% on Raised 1Q, FY23 Guidance

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By Denny Jacob

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Boot Barn Holdings Inc. rose 3.5% to $89.70 in late trading Tuesday after the company posted better-than-expected results in fourth quarter and raised its guidance for the shares first quarter and fiscal 2023.

The western and work-related retailer logged net income of $44.7 million, or $1.47 a share, for the quarter ended March 26, compared with net income of $24.6 million, or 82 cents a share, in the year-ago period. Analysts polled by FactSet had expected $1.37 a share.

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Sales rose to $383.3 million from $258.9 million. Analysts polled by FactSet expected $355.1 million in sales.

The company issued guidance for the first quarter and fiscal 2023. Boot Barn Holdings said it expects total sales of $367 million in the first quarter, above analysts’ expectations of $322.5 million.

In fiscal 2023, the company expects to open 40 new stores, post total sales of $1.74 billion and net income of $197 million. Analysts polled by FactSet expect 36 stores to open, $1.54 billion in sales and $161.1 million in net income for fiscal 2023.

Write to Denny Jacob at [email protected]

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Credit: www.marketwatch.com /

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