Boot Barn Shares Drop Following Sales Miss in Q4

Shares for Boot Barn Holdings were down more than 12 percent shortly after markets closed on Wednesday, following a sales miss for the Western apparel and footwear retailer.

In the fourth quarter of fiscal 2023, Boot Barn reported net sales of $425.7 million, an increase of 11 percent over the same time last year, but short of the company’s expected sales target between $438 million and $448 million, for growth of between 14.4 percent and 17 percent. Net income was $46.4 million in the quarter compared with $44.7 million in the prior year. Diluted earnings per share were $1.53, ahead of expectations outlined by the company.

In Q1, Boot Barn expects sales to drop between 2.4 percent and 0.5 percent to total between $357 million to $364 million. Net income per diluted share is expected to be between 79 cents and 85 cents.

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