Boot Barn reports Q2 EPS 16c, consensus 9c
EPS includes 04c of tax benefit related to stock option exercises. Reports Q2 revenue $168.1M, consensus $161.42M. Same store sales increased 11.3%. The company said, "We are very pleased with our second quarter results and the underlying strength in the business. Same store sales increased double digits, both in our retail stores and online, which combined with merchandise margin expansion from increased full-price selling and exclusive brand penetration, drove 130 basis points of operating margin improvement over last year. During the quarter, we made significant progress across each of our four strategic growth initiatives. Most notably, in mid-September we successfully launched our new exclusive brand, Idyllwind, Fueled by Miranda Lambert. We are well positioned to continue driving improved results during our upcoming holiday quarter and over the long term. We are also pleased with sales through the first three weeks of our fiscal third quarter, which continue to be very strong both in our retail stores and online."