: Boot Barn stock down 10% after mixed quarter, same-store sales drop

Boot Barn Holdings Inc. BOOT shares dropped more than 10% in the extended session Wednesday after the retailer reported a mixed fourth quarter and its same-store sales dropped more than expected. Boot Barn earned $46.4 million, or $1.53 a share, in the quarter, compared with $44.7 million, or $1.47 a share, in the prior-year period. Adjusted for one-time items, the company earned $1.51 a share. Sales rose 11% to $425.7 million, the company said. Analysts polled by FactSet expected adjusted earnings of $1.44 a share on sales of $441 million. Same-store sales fell 5.5%, Boot Barn said. The analysts surveyed by FactSet expected a drop in same-store sales around 2%. Boot Barn guided for fiscal 2024 sales between $1.690 billion and $1.723 billion, which would be growth of 2% to 4% over fiscal 2023. It called for a same-store sales drop of about 6.5% to 4.5%.

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