Boot Barn Holdings has revised its full-year outlook due to a continued decline in same-store sales. The operator of Western-themed footwear and apparel stores reported a profit of $55.6 million, or $1.81 per share, for the quarter ended Dec. 30. This is an increase from the profit of $52.8 million, or $1.74 per share, in the same quarter a year earlier.
Analysts were expecting earnings of $1.79 per share, according to FactSet. While revenue rose 1.1% to $520.4 million, slightly below analyst projections for $520.5 million, same-store sales fell by 9.7%. This includes a drop of 9.4% at physical stores and an 11.5% decrease in e-commerce sales.
For the full year, Boot Barn now expects net income between $142.8 million and $145.8 million, down from the earlier forecast of $145.2 million to $153.4 million. On a per-share basis, the company anticipates earnings between $4.65 and $4.75, compared to the previous range of $4.75 to $5.
The company has also adjusted its sales forecast, now forecasting net sales between $1.65 billion and $1.66 billion, compared to the prior view of $1.68 billion to $1.70 billion. Analysts polled by FactSet had predicted sales of $1.68 billion for the year.