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Boot Barn swings to loss in fiscal Q2

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Boot Barn swings to loss in fiscal Q2

Boot Barn Holdings, Inc. said its normalized net income for the fiscal second quarter ended Sept. 26 came to a loss of 13 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

The per-share result swung to a loss from the prior-year profit of 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.4 million, compared with income of $1.5 million in the year-earlier period.

The normalized profit margin fell to negative 0.0% from 1.8% in the year-earlier period.

Total revenue climbed 50.2% on an annual basis to $129.7 million from $86.4 million, and total operating expenses rose 60.4% on an annual basis to $130.1 million from $81.1 million.

Reported net income totaled a loss of $3.4 million, or a loss of 13 cents per share, compared to income of $1.0 million, or 5 cents per share, in the prior-year period.