Boot Barn Q1 tops expectations; on track to open 70 stores
Boot Barn Holdings got off to a strong start in its first quarter with better-than-expected earnings and sales.
The Western and work-related apparel and footwear retailer opened 27 new stores during the quarter. It plans to open 70 new stores during its current fiscal year.
Boot Barn's first-quarter net income totaled $70.1 million, or $2.29 per share, for the quarter ended June 28, compared to $53.4 million, or $1.74 per diluted share, in the prior-year period.
The company disclosed that tariff refunds of $14.7 million were recognized in cost of goods sold during the current-year period.
Net sales increased 17.7% to $593.5 million. Same-store sales rose 4.7%, with retail store comparative increasing 3.8% and e-commerce comparative increasing 13.4%.
“We are pleased with our strong start to fiscal 2027, as first quarter results exceeded our expectations and reflected broad-based strength across the business,” said CEO John Hazen. “While July's sales came in slightly below our expectations, we believe the shortfall primarily reflected the impact of seasonal events and concerts on our business during a lower-volume month. We remain confident in our outlook for the balance of the fiscal year."
On the earnings call, Hazen cited fewer Western lifestyle stadium events and concerts, and the temporary impact of World Cup matches on customer traffic during televised games.
Looking ahead, the company raised its full-year guidance slightly to total sales between $2.580 billion and $2.625 billion compared to its previous estimate of $2.578 billion to $ 2.623. Net income for the year is now expected to range between $267.9 million and $281.0 million, up from its previous estimate of $251.1 million to $264.5 million. He said the traffic pressure was seen across geographies.
Based in Irvine, Calif., Boot Barn ended its first quarter with a total of 566 stores.
