What happened

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) soared 17.3% as of 12:40 p.m. EDT Wednesday after the Western wear and work apparel specialist announced strong fiscal fourth-quarter 2018 results.

Noting that this quarter had one less week as compared to the same year-ago period, quarterly net sales climbed 4.8% to $170.8 million, including a 12.1% increase in same-store sales. On the bottom line, that translated to net income of $6.9 million, or $0.24 per share, up from $2.6 million, or $0.10 per share in last year's fiscal fourth quarter.

Analysts, on average, were only looking for earnings of $0.16 per share on revenue of $163.7 million.

Ornate cowboy boots lined up on a wooden shelf

IMAGE SOURCE: GETTY IMAGES.

So what

Boot barn also pointed out that same-store sales grew in the double-digit percent range for both retail stores and online. Boot Barn CEO Jim Conroy also stated that the company was "very pleased" with its top-line momentum, elaborating that the company's exclusive brands and ability to stick to its full-price selling model were instrumental in boosting merchandise margins.

"I am equally excited about the business in April and May as our double-digit same-store sales growth has continued," Conroy added. "We are looking forward to fiscal 2019 and the opportunities we have to drive profitable growth, reaccelerate store expansion, build out our multi-brand e-commerce strategy, and further develop our exclusive brands."

Now what

For the current quarter, Boot Barn expects net income per share of $0.10 to $0.12 -- well above the $0.07 per share most investors were expecting -- with same-store sales growth of 10%.

Finally, for all of fiscal 2019, Boot Barn anticipates opening 23 new locations, generating same-store sales growth in the mid-single-digit percent range, and delivering net income per diluted share of $0.92 to $1.02. 

In the end, this was a straightforward quarterly beat followed by a better-than-expected forward outlook. And it's no surprise to see Boot Barn stock rallying in response.

Steve Symington has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.