Shares of Boot Barn on Monday climbed past their all-time high level after the company reported growth in same-store sales in the first ten weeks of its fiscal second quarter following a significant improvement in sales in August.
The stock was up 8.6%, to $148.15, in after-hours trading. Shares have surged 93% since the beginning of the year, and are up 62% over the past 12 months. They hit their highest intraday level of $143.57 on Aug. 26.
The lifestyle retail chain, mostly known for its cowboy boots and hats, said that consolidated same-store sales rose 4% in the ten-week period of the quarter ending Sept. 30, boosted by a 3.4% increase in retail sales and a 9.2% jump in online sales.
Wall Street analysts expect a 0.1% decline for the second quarter, which would still represent an improvement from the 4.8% drop reported in the year-ago period.
In July, Boot Barn saw a decline of 0.3% in consolidated same-store sales, but this was offset by a 6% increase in August.
“While macro uncertainty continues, we are increasingly confident in the underlying tone of the business as we prepare for the upcoming holiday quarter,” Chief Executive Jim Conroy said.