Boot Barn Shares Rise Premarket as 1Q Sales Trend Above Views

Dow Jones06-04

By Colin Kellaher

Shares of Boot Barn Holdings moved higher in premarket trading Tuesday after the Western-wear retailer indicated that its sales for the current quarter are trending above its prior expectations.

Boot Barn said its consolidated same-store sales for the first nine weeks of its fiscal first-quarter were up 1.4%, with store comps up 0.8% and e-commerce up 6.7%.

The Irvine, Calif., company last month had said it expected same-store sales would be down 2.5% to 4.5% for the quarter, which ends on June 29, with retail store-same store sales down 3% to 5%, and e-commerce same-store sales flat to up 2%.

Analysts polled by FactSet, on average, are expecting a same-store sales decline of 4.2% for the quarter.

Boot Barn noted that it is seeing broad-based sequential sales improvement across all major merchandise departments and all four regional geographies.

Boot Barn shares, which closed Monday at $123.15, were recently up 5.6% at $130.09 in premarket trading.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

June 04, 2024 09:10 ET (13:10 GMT)

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

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