10-Q · February 5, 2026
Boot Barn reported a strong quarter with net sales of $705,643,000 (up $97,473,000 vs. $608,170,000 year-ago) and diluted EPS of $2.79 (vs. $2.43 year-ago). Gross margin expanded modestly to ~39.9% and operating income…
Earnings analysis · 10-K
BOOT earnings analysis
Filed May 14, 2026 · Our reading of the company's report
The latest report
Boot Barn Holdings, Inc. reported strong financial growth in fiscal 2026, with revenues increasing by 17.9% to $2.25 billion and net income rising by 24.8% to $225.9 million. The company continues to expand its store…
Read full summary
Boot Barn Holdings, Inc. reported strong financial growth in fiscal 2026, with revenues increasing by 17.9% to $2.25 billion and net income rising by 24.8% to $225.9 million. The company continues to expand its store footprint, having opened 80 new locations in FY 2026, while maintaining strong margins and a commitment to capital allocation through stock repurchases. Enhanced omni-channel capabilities and a focus on brand expansion are key components of the company's growth strategy.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $7.35
What stood out
-
Revenue Growth
Net sales increased by 17.9% to $2.25 billion in fiscal 2026.
-
Improved EPS
Diluted EPS reached $7.35, up from $5.88, a 25.0% increase.
-
Strong Same-Store Sales
Same-store sales grew by 7.2%, with e-commerce same-store sales increasing by 15.3%.
-
Capital Expenditures
Capex for FY 2027 is projected between $125M - $130M, net of lease incentives.
-
Stock Buyback Program
$50 million worth of shares were repurchased during fiscal 2026.
-
Store Expansion
80 new stores opened in FY 2026, compared to 60 in FY 2025.
What to watch
-
Geographic Concentration Risk
195 of 539 stores are in Arizona, California, and Texas, exposing the company to regional economic downturns.
-
Cybersecurity Threats
Ongoing risks include potential data breaches; failure to secure customer data may lead to significant reputational damage.
-
Supplier Dependence
25% of sales depend on three suppliers; a disruption from any could severely affect inventory.
Management's outlook
Capital expenditures estimated between $125M - $130M; annual outlook for revenue growth of 14% to 16% in FY 2027 deferred to earnings call.
Earlier filings 4
10-K · May 15, 2025
Boot Barn emphasizes an omni-channel growth strategy anchored in a powerful lifestyle brand, rapid store expansion and higher-margin exclusive brands. The company reported 459 stores as of March 29, 2025, opened 60 new…
10-Q · January 31, 2025
Boot Barn reported a strong quarter with net sales of $608,170 (thousands) and diluted EPS of $2.43, up versus the prior-year quarter. Gross margin expanded to 39.3% and operating margin to 16.4%, while cash and cash…
10-Q · August 8, 2024
Boot Barn reported fiscal Q1 net sales of $423,386,000 and diluted EPS of $1.26 for the thirteen weeks ended June 29, 2024, versus $383,695,000 and $1.13 in the prior-year quarter. Operating income was $50,222,000 and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.