BOOT - Why Boot Barn Stock Jumped Thursday
2023-08-03 12:44:13 ET
Shares of Boot Barn Holdings (NYSE: BOOT) were up 12% as of noon ET on Thursday after the company delivered better-than-expected earnings results for the fiscal first quarter of 2024.
Although same-store sales were down 2.9% year over year, Boot Barn reported better total revenue and earnings than analysts were expecting.
Many retailers are still struggling with weak consumer demand, but with stock prices already discounting weak sales trends, investors are just looking for any signs of a recovery. On that note, management said that same-store sales trends turned positive in June and continued to grow in July.
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Why Boot Barn Stock Jumped Thursday