Boot Barn (NYSE:BOOT) Posts Quarterly Earnings Results

by · The Cerbat Gem

Boot Barn (NYSE:BOOT – Get Free Report) posted its earnings results on Wednesday. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.60, FiscalAI reports. Boot Barn had a return on equity of 18.15% and a net margin of 10.02%.The firm had revenue of $593.51 million for the quarter, compared to the consensus estimate of $583.15 million. During the same quarter in the prior year, the business posted $1.74 earnings per share. The business’s quarterly revenue was up 17.7% on a year-over-year basis. Boot Barn updated its FY 2027 guidance to 8.800-9.230 EPS and its Q2 2027 guidance to 1.550-1.650 EPS.

Here are the key takeaways from Boot Barn’s conference call:

  • First-quarter results exceeded expectations, with sales up 18% to $594 million, same-store sales up 4.7%, and diluted EPS up 32% to $2.29. Results included a $0.38-per-share benefit from tariff refunds and better-than-expected product margins and expense control.
  • Boot Barn raised its fiscal 2027 outlook, targeting up to $2.6 billion in sales, 4% same-store sales growth, and diluted EPS of $9.23, up 26%. The company now expects approximately 60 basis points of full-year merchandise-margin expansion excluding tariff refunds.
  • Current-quarter momentum moderated, with consolidated same-store sales approximately flat through the first four weeks of the second quarter and July below expectations. Management attributed the weakness primarily to fewer Western music and stadium events, World Cup-related viewing distractions, and difficult comparisons.
  • New-store performance remains strong, with 27 locations opened in the quarter and 70 planned for the fiscal year. New stores are projected to generate approximately $3.2 million in average annual revenue with payback in less than two years, supporting the long-term goal of 1,200 U.S. stores.
  • The work business continued to accelerate, delivering high-single-digit comparable growth in both work boots and work apparel. Strong third-party work-boot sales may reduce exclusive-brand penetration to flat or slightly down year over year, but management views the mix shift as beneficial for sales and customer acquisition.

Boot Barn Stock Down 4.8%

Shares of NYSE BOOT traded down $7.59 during trading hours on Wednesday, reaching $151.03. 1,180,686 shares of the stock traded hands, compared to its average volume of 703,891. The company has a market capitalization of $4.58 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.09 and a beta of 1.69. The company’s 50-day simple moving average is $162.68 and its two-hundred day simple moving average is $168.76. Boot Barn has a 52-week low of $133.18 and a 52-week high of $210.25.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America decreased their price objective on Boot Barn from $224.00 to $206.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. BTIG Research reaffirmed a “buy” rating and set a $235.00 target price on shares of Boot Barn in a report on Monday. Citigroup reiterated a “buy” rating on shares of Boot Barn in a research report on Monday, May 4th. Robert W. Baird cut their price objective on shares of Boot Barn from $244.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Finally, Piper Sandler cut their price target on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a report on Friday, May 15th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Boot Barn has an average rating of “Moderate Buy” and a consensus price target of $226.92.

Get Our Latest Research Report on Boot Barn

Institutional Investors Weigh In On Boot Barn

Large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in Boot Barn during the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Boot Barn during the 3rd quarter valued at $49,000. Johnson Financial Group Inc. bought a new stake in shares of Boot Barn during the 3rd quarter valued at $60,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Boot Barn in the 4th quarter worth about $91,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Boot Barn in the 4th quarter worth about $99,000.

Boot Barn Company Profile

(Get Free Report)

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.

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