Boot Barn Holdings, Inc. (NYSE: BOOT) released its financial results for the fourth quarter ended March 31, 2018. Both earnings and revenue beat estimates, and shares of the company increased over 16% in premarket trading on Wednesday.

For the fourth quarter, revenue increased from $163.0 million to $170.8 million, beating analysts’ estimates of $158 million. According to the company, same-store sales increased 12.1% for the quarter, compared with the expectation of rising 10.6%.

In addition, net income rose from $2.59 million, or 10 cents per share, for the same period last year, to $6.86 million, or 24 cents per share, which beat analysts’ estimates of 11 cents per share.

“We are very pleased with the top-line momentum our business experienced across most of the country both in store and online during the fourth quarter. Our investments in merchandising, marketing and omni-channel fueled double-digit gains in retail comparable sales and helped return our e-commerce business to double-digit growth as well,” Jim Conroy, the Chief Executive Officer of the company, commented in the statement.

“Importantly, we held true to our full-price selling model, which combined with a meaningful increase in our exclusive brand penetration, yielded a 90 basis point improvement in merchandise margin. Our strong sales and margin performance enabled us to exceed our earnings guidance for the quarter and further solidify our industry leading position,” Mr. Conroy said.