Boot Barn (NYSE:BOOT) Issues Quarterly Earnings Results

Boot Barn (NYSE:BOOT) issued its earnings results on Wednesday. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.69 by $0.60, FiscalAI reports. The business had revenue of $593.51 million during the quarter, compared to the consensus estimate of $583.15 million. Boot Barn had a return on equity of 18.15% and a net margin of 10.02%.The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 EPS. 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 Performance

NYSE:BOOT traded up $0.87 during midday trading on Thursday, reaching $151.76. 564,695 shares of the stock traded hands, compared to its average volume of 701,865. The company has a fifty day moving average of $162.86 and a 200 day moving average of $168.46. Boot Barn has a 12 month low of $133.18 and a 12 month high of $210.25. The stock has a market capitalization of $4.60 billion, a P/E ratio of 20.58, a PEG ratio of 1.11 and a beta of 1.69.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BOOT. Piper Sandler lowered their price target on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Bank of America reduced their price objective on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Robert W. Baird set a $212.00 target price on shares of Boot Barn in a report on Thursday. BTIG Research set a $215.00 target price on shares of Boot Barn and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings lowered Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $224.17.

Trending Headlines about Boot Barn

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn reported fiscal Q1 revenue of $593.5 million, up 17.7% year over year, while same-store sales increased 4.7%. Earnings of $2.29 per share exceeded the $1.69 analyst consensus and rose from $1.74 a year earlier, providing the main bullish catalyst. Boot Barn fiscal first-quarter results
• Positive Sentiment: Management raised or maintained an optimistic full-year outlook, projecting fiscal 2027 EPS of $8.80 to $9.23 versus the $8.54 consensus. The upper end includes approximately $0.46 per share from tariff refunds, while projected sales are about $2.6 billion. Boot Barn fiscal 2027 outlook
• Positive Sentiment: The company’s growth profile continues to attract attention, with Zacks highlighting Boot Barn as a strong growth-stock candidate based on its style-score methodology. Why Boot Barn is a strong growth stock
• Neutral Sentiment: Boot Barn is expanding its store base by moving into a Gilroy, California, shopping center formerly occupied by Old Navy. The move supports long-term footprint growth, although its immediate financial impact is unclear. Boot Barn Gilroy store expansion
• Negative Sentiment: Second-quarter guidance was below expectations: EPS of $1.55 to $1.65 versus the $1.69 consensus, and revenue of $572 million to $582 million versus $593.9 million. This suggests a potential slowdown after the first-quarter beat. Boot Barn earnings and guidance
• Negative Sentiment: Some analysts argue that store expansion alone does not justify Boot Barn’s valuation, increasing concern that future growth expectations may already be reflected in the stock price. Boot Barn valuation analysis

Institutional Investors Weigh In On Boot Barn

A number of large investors have recently added to or reduced their stakes in BOOT. Los Angeles Capital Management LLC bought a new position in shares of Boot Barn during the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Boot Barn in the third quarter worth about $49,000. Johnson Financial Group Inc. bought a new stake in shares of Boot Barn in the third quarter worth about $60,000. Kemnay Advisory Services Inc. purchased a new position in Boot Barn during the 4th quarter valued at about $91,000. Finally, Kestra Advisory Services LLC purchased a new position in Boot Barn during the 4th quarter valued at about $99,000.

About Boot Barn

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.