Boot Barn reports strong Q1 results

US retailer Boot Barn Holdings, Inc. (Boot Barn) announced its financial results for the first fiscal quarter ended June 27, 2026. Net sales increased 17.7 percent to 593.5 million dollars compared to the prior-year period. Consolidated like-for-like (LFL) sales increased 4.7 percent for the period.

Retail store LFL sales grew 3.8 percent while e-commerce LFL sales expanded 13.4 percent. Net income reached 70.1 million dollars, or 2.29 dollars per diluted share. This compares to net income of 53.4 million dollars, or 1.74 dollars per diluted share, in the previous year.

Gross profit totaled 239.9 million dollars, representing 40.4 percent of net sales. The results included 14.7 million dollars of tariff refunds recognized in cost of goods sold. Diluted earnings per share included an estimated 0.38 dollars benefit from these tariff refunds.

Chief executive officer John Hazen noted that the business exceeded expectations across multiple channels. Boot Barn opened 27 new stores during the quarter, bringing its total store network to 566 locations. Hazen stated that the team continued to execute at a high level while expanding margins.

Sales moderation and fiscal outlook

Exiting the first quarter, July sales moderated due to challenging year-over-year (YoY) comparisons. Management attributed the slight shortfall to seasonal events and concerts during a lower-volume month. The company remains confident in its financial trajectory for the remainder of the fiscal year.

For the fiscal year ending March 27, 2027, Boot Barn expects total sales between 2.580 billion and 2.625 billion dollars. This projection represents growth of 14 percent to 16 percent over fiscal 2026. Consolidated LFL sales growth is anticipated between 2 percent and 4 percent.

Net income for the full year is projected between 267.9 million and 281.0 million dollars. Diluted earnings per share are expected to range from 8.80 to 9.23 dollars. Capital expenditures are forecasted between 125 million and 130 million dollars. Boot Barn plans to open 70 stores during the year under review.

For the second quarter, the company projects sales of 572 million dollars to 582 million dollars, representing growth of 13 percent to 15 percent over the prior-year period. Consolidated same store sales are expected to remain flat to 2 percent growth, with retail store same store sales declines of 1 percent to growth of 1 percent and e-commerce same store sales growth of 10 percent to 12 percent.