Boot Barn beats earnings expectations, boosting shares

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Boot Barn Holdings Inc. shares surged in the extended session Tuesday after it posted results that were better than expected. The Western-wear-themed retailer’s shares rose 12% in after-hours trading after rising 3.46% to close at $20.32 in the regular session. The company reported a first-quarter loss of $490,000, or 2 cents a share, versus net income of $9.7 million, or 33 cents a share, in the year-ago period. Revenue fell to $147.8 million from $185.7 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 16 cents a share on revenue of $147.8 million. While the company said it would not issue second-quarter guidance because of the uncertainty surrounding the COVID-19 pandemic, CEO Jim Conroy said in a statement: “With the exception of temporary store closures due to COVID-19, we are fortunate to have all of our stores open and believe we are well positioned to reengage in growth when customer confidence in store shopping returns.” Shares of Boot Barn are down 54% this year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.