Boot Barn Holdings, Inc. Earnings Recaps
Q4 2026
May 16, 2026
Boot Barn’s shares declined modestly by 1.0% following Q4 and fiscal 2026 results, reflecting investor caution despite solid sales and margin expansion, likely due to decelerating same-store sales growth and tempered early fiscal '27 outlook.
Key takeaways
- Fourth quarter revenue rose 19% to $2.25 billion for the full year, driven by 25 new stores and 6.1% same-store sales growth, down from prior year’s higher growth rates.
- Fiscal 2026 merchandise margin expanded by 80 basis points, continuing a multi-year trend of gross margin improvement.
- EPS increased 19% in Q4 to $1.45 and 25% for the full year to $7.35, reflecting operating leverage from store growth and margin gains.
- New store openings accelerated, with 80 new stores in fiscal 2026 (vs original guidance of 15 in Q4), fueling incremental revenue but potentially pressuring margins and comp sales maturity.
- Early fiscal 2027 same-store sales rose 5% over a base of high single-digit growth, indicating a moderation in top-line momentum that may explain cautious investor sentiment.
Q3 2026
Feb 5, 2026
Boot Barn Holdings, Inc. reported a strong third quarter for fiscal 2026, with revenue up 16% year-over-year to $706 million and earnings per share of $2.79, reflecting robust performance across merchandise categories.
Key takeaways
- Consolidated same-store sales grew by 5.7%, despite an estimated $5 million revenue reduction from winter storm closures.
- Record 25 new store openings in Q3 and plans for 15 additional stores in Q4, positioning the company towards its goal of 1,200 stores in the U.S.
- Online sales surged by 19.6%, driven by the successful launch of exclusive brand websites for Cody James and Hawx.
- Merchandise margin expanded by 110 basis points, aided by supply chain efficiencies and a strong focus on exclusive brands, which saw a 240 basis point increase.
- The company is adjusting exclusive brand pricing to enhance margins while maintaining competitive positioning.