Boot Barn Registers 5.9% Preliminary Sales Growth In Q3

Boot Barn Holdings Inc BOOT reported a preliminary third-quarter FY23 sales increase of 5.9% to $514.6 million. Same-store sales declined 3.6%.
Merchandise margin declined 190 basis points compared to the prior-year period, driven primarily by a 180 basis-point headwind from higher freight expense.
The company opened 12 new stores in the third quarter, or 33 stores year-to-date, bringing its total store count to 333.
Boot Barn sees Q3 EPS of $1.74 compared to an EPS of $2.27 last year.
"I am extremely proud of the entire Boot Barn team for their tremendous execution as we delivered total sales at the high end of our guidance, despite late December storms that negatively impacted sales during the highest volume days of the quarter,” said CEO Jim Conroy.
The company currently plans to report Q3 results in late January 2023, at which time it will also provide Q4 guidance.
Price Action: BOOT shares are trading higher by 2.34% at $64.47 on the last check Friday.
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