Boot Barn Holdings Inc (NYSE:BOOT) Shares Plunge

NEW YORK – Boot Barn Holdings Inc shares plunged over 10% in after-hours trading on Monday after the western wear retailer reported second-quarter earnings that missed estimates and announced its CEO will be stepping down.

The company reported adjusted earnings per share of $0.95 for the quarter ended September 28, falling short of analyst expectations of $0.96. Revenue came in at $425.8 million, slightly above the consensus estimate of $424.5 million and up 13.7% YoY.

Same-store sales increased 4.9% compared to the prior year period, with retail store same-store sales up 4.3% and e-commerce same-store sales rising 10.1%.

In a surprise announcement, Boot Barn said CEO Jim Conroy plans to step down effective November 22 to take the CEO role at Ross Stores Inc. The company named John Hazen, its current Chief Digital Officer, as interim CEO.

"Our fiscal second quarter saw broad-based growth in same-store sales, the addition of 15 new stores, and a healthy beat to guidance in earnings per diluted share," said Conroy in a statement.

For fiscal 2025, Boot Barn now expects revenue of $1.874 billion to $1.907 billion, representing growth of 12.4% to 14.4% over the prior year. This outlook is roughly in line with analyst estimates of $1.87 billion.

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