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Boot Barn swings to profit in fiscal Q1

Boot Barn Holdings, Inc. said its normalized net income for the fiscal first quarter ended June 28 amounted to 9 cents per share, compared with a loss of 5 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.7 million, compared with a loss of $948,000 in the year-earlier period.

The normalized profit margin rose to 2.0% from negative 1.5% in the year-earlier period.

Total revenue rose 27.8% year over year to $82.5 million from $64.6 million, and total operating expenses grew 26.1% year over year to $77.1 million from $61.1 million.

Reported net income totaled a loss of $38,300, or a loss of 0 cents per share, compared to a loss of $1.3 million, or a loss of 7 cents per share, in the year-earlier period.