Boot Barn opened 11 new stores in the third quarter of the current fiscal year, helping save the top line of the cowboy apparel retailer despite a decline in same-store sales.

In the quarter ended December 31, the company’s net sales increased 1.1 per cent year over year to $520.4 million. 

This comes despite same-store sales falling 9.7 per cent, with physical store sales down 9.4 per cent and online sales down 11.5 per cent.

The company attributed the net sales growth to adding 49 stores over the past 12 months, taking the store count to 382.

Meanwhile, gross profit increased 6 per cent to $199.1 million and net income by 5.3 per cent to $55.6 million.

“Excluding three quarters in calendar 2020 that were impacted by the pandemic, the third quarter marks our 38th consecutive quarter of year-over-year sales growth since our IPO in 2014, nearly 10 years ago,” said Boot Barn president and CEO Jim Conroy.

“We also grew earnings compared to last year through a combination of sales growth, disciplined expense control and an increase in merchandise margin, which benefited from improved freight rates.”