Work-related footwear, apparel and accessories retailer Boot Barn Holdings recorded higher net sales in the second quarter of FY24 on the back of opening 10 new stores during the period, taking the company’s store count to 374 across 44 states.

Net sales increased 6.5 per cent year over year to $374.5 million during the three months ended September 30. However, same-store sales declined as retail store same-store sales and e-commerce same-store sales fell 3.8 per cent and 11.7 per cent, respectively.

“We opened 10 new stores in the quarter and continue to be encouraged by the new store performance across the country,” said Jim Conroy, president and CEO at Boot Barn.

“Exclusive brand penetration expanded more than 600 basis points as our brands are resonating well with the consumer.”

Net income declined 13.6 per cent amid an increase in selling, general and administrative expenses.

For the first six months, net sales rose 5.7 per cent to $758.2 million while net income slid 13.2 per cent to $61.9 million.

The company forecasts sales to grow 1.4 per cent to 4 per cent to $522 million to $535 million for the fourth quarter and to soar 1.2 per cent to 2.7 per cent to $1.68 billion to $1.70 billion for the full year.

The company also expects to open 52 new stores in FY24.