Boot Barn (NYSE:BOOT) Posts Earnings Results, Hits Expectations

Boot Barn (NYSE:BOOT) announced its quarterly earnings results on Wednesday. The company reported $2.79 earnings per share for the quarter, hitting the consensus estimate of $2.79, FiscalAI reports. The company had revenue of $705.64 million for the quarter, compared to the consensus estimate of $700.71 million. Boot Barn had a return on equity of 18.73% and a net margin of 10.10%.The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $2.43 EPS. Boot Barn updated its FY 2026 guidance to 7.250-7.350 EPS and its Q4 2026 guidance to 1.350-1.450 EPS.

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

• Strong Q3 results: Revenue grew 16% to $706 million, consolidated same-store sales rose 5.7%, and diluted EPS was $2.79, driven by broad-based strength across categories and channels.
• Merchandise margin expansion: Merchandise margin increased ~110 bps (exclusive brands +240 bps) from buying scale and supply‑chain efficiencies, and the company plans selective exclusive‑brand price increases in Q4 to sustain margins.
• Accelerating store growth: Opened a record 25 stores in Q3 (514 total); new stores average ~$3.2M in first‑year sales with <2‑year payback, 15 planned in Q4 (70 for the fiscal year) and a strong pipeline for FY27 toward a 1,200‑store target.
• Raised full‑year guidance: Management raised FY2026 outlook to $2.25 billion in sales (+18%), same‑store sales +7%, and EPS of $7.35, reflecting confidence in the business momentum.
• Near‑term headwinds: Q4 guidance contemplates a ~60 bps y/y merchandise‑margin decline due to normalized shrink and freight, inventory is up 17% to $805 million, and recent winter storms reduced revenue by roughly $5 million that is unlikely to be fully recovered.

Boot Barn Price Performance

BOOT stock opened at $189.13 on Friday. Boot Barn has a 1 year low of $86.17 and a 1 year high of $210.25. The firm has a market capitalization of $5.76 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 1.36 and a beta of 1.67. The business has a 50 day simple moving average of $190.56 and a 200-day simple moving average of $182.29.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Boot Barn in a report on Wednesday, January 21st. Stephens raised Boot Barn from an “equal weight” rating to an “overweight” rating and set a $237.00 target price for the company in a research note on Friday. Zacks Research raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Tuesday. UBS Group lifted their target price on shares of Boot Barn from $265.00 to $267.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Seaport Research Partners cut shares of Boot Barn from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $216.85.

Insiders Place Their Bets

In other Boot Barn news, Director Gene Eddie Burt sold 1,200 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $191.41, for a total value of $229,692.00. Following the completion of the sale, the director directly owned 3,338 shares of the company’s stock, valued at $638,926.58. This trade represents a 26.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. grew its stake in Boot Barn by 2,547.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company’s stock worth $78,086,000 after purchasing an additional 453,396 shares in the last quarter. Invesco Ltd. raised its position in Boot Barn by 46.3% in the 3rd quarter. Invesco Ltd. now owns 917,406 shares of the company’s stock valued at $152,033,000 after purchasing an additional 290,493 shares during the last quarter. Scopus Asset Management L.P. purchased a new stake in shares of Boot Barn during the third quarter worth approximately $21,573,000. Bank of America Corp DE increased its stake in shares of Boot Barn by 43.4% during the second quarter. Bank of America Corp DE now owns 384,404 shares of the company’s stock worth $58,429,000 after acquiring an additional 116,269 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Boot Barn by 24.2% in the third quarter. Ameriprise Financial Inc. now owns 579,680 shares of the company’s stock valued at $96,065,000 after buying an additional 112,918 shares in the last quarter.

Boot Barn Company Profile

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.