Boot Barn (NYSE:BOOT) Posts Quarterly Earnings Results, Beats Estimates By $0.60 EPS

Boot Barn (NYSE:BOOT) posted its quarterly earnings data on Wednesday. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.69 by $0.60, FiscalAI reports. The firm had revenue of $593.51 million for the quarter, compared to the consensus estimate of $583.15 million. Boot Barn had a return on equity of 19.12% and a net margin of 10.35%.The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 earnings per share. 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 Trading Down 2.7%

Shares of NYSE:BOOT traded down $4.18 on Friday, reaching $150.19. The company had a trading volume of 381,884 shares, compared to its average volume of 708,879. The firm’s 50 day simple moving average is $162.87 and its 200-day simple moving average is $168.18. The firm has a market capitalization of $4.56 billion, a PE ratio of 19.02, a PEG ratio of 1.06 and a beta of 1.69. Boot Barn has a 52-week low of $133.18 and a 52-week high of $210.25.

Institutional Trading of Boot Barn

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new position in Boot Barn during the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Boot Barn in the third quarter valued at about $49,000. Johnson Financial Group Inc. acquired a new position in Boot Barn during the third quarter worth $60,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Boot Barn in the 4th quarter valued at $91,000. Finally, Kestra Advisory Services LLC acquired a new position in Boot Barn during the 4th quarter worth about $99,000.

Key Stories Impacting Boot Barn

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

• Positive Sentiment: Fiscal Q1 revenue rose 17.7% year over year to $593.5 million, exceeding the $583.2 million consensus estimate, while EPS of $2.29 beat expectations of $1.69. Same-store sales increased 4.7%, supported by store growth and e-commerce strength. Boot Barn fiscal first-quarter financial results
• Positive Sentiment: Boot Barn raised its fiscal 2027 EPS outlook to $8.80-$9.23 from the prior range, above the roughly $8.54 analyst consensus. The outlook includes an estimated $0.46 benefit from tariff refunds, while full-year sales are projected at approximately $2.6 billion. Boot Barn fiscal 2027 outlook
• Positive Sentiment: The company continues expanding its store base, including a planned location in a Gilroy, California, shopping center, supporting its longer-term growth strategy. Boot Barn Gilroy store expansion
• Neutral Sentiment: TD Cowen maintained a Buy rating but reduced its price target from $225 to $190, signaling continued confidence in the business while acknowledging a lower valuation or more cautious near-term outlook. TD Cowen Boot Barn price target update
• Negative Sentiment: Fiscal Q2 guidance fell below Wall Street expectations: EPS of $1.55-$1.65 versus consensus of $1.69 and revenue of $572 million-$582 million versus approximately $593.9 million expected. Management also indicated that July sales slowed, raising concerns about near-term consumer demand. Boot Barn July sales slowdown
• Negative Sentiment: Part of the full-year EPS increase comes from the tariff refund, a potentially nonrecurring benefit. Investors may therefore view the underlying earnings outlook as less robust than the headline guidance suggests. Boot Barn tariff refund benefit

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. 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. UBS Group set a $225.00 price objective on shares of Boot Barn in a research report on Wednesday, June 17th. Weiss Ratings cut shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Bank of America dropped their target price on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, Jefferies Financial Group upgraded Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a research report on Monday, April 6th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Boot Barn currently has an average rating of “Moderate Buy” and a consensus price target of $221.25.

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.