Boot Barn Q2 sales slightly beat estimates on new store openings and higher same store sales
Overview
U.S. western apparel retailer's fiscal Q2 sales rose 15%, slightly beating analyst expectations
Adjusted EPS for fiscal Q2 rose 26% year-over-year
Company authorized additional $400 mln for share buybacks, $468 mln now available
Outlook
Boot Barn sees FY27 sales of $2.565 bln to $2.593 bln
Company expects FY27 EPS of $8.72 to $9.00
Boot Barn expects Q3 sales of $785 mln to $802 mln
Result Drivers
NEW STORES AND SAME STORE SALES - Co attributed sales growth to new store openings and higher same store sales
MERCHANDISE MARGIN - Co said margin expansion was driven by lower freight costs, tariff refunds, and product margin gains
STORE PERFORMANCE - CEO said new stores generated sales above projections, supporting expansion strategy
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Slight Beat* | $581.80 mln | $580.52 mln (17 Analysts) |
Q2 EPS | $1.73 | ||
Q2 Net Income | $52.50 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories retailers peer group is "buy"
Wall Street's median 12-month price target for Boot Barn Holdings, Inc. is $202.00, about 80.9% above its October 27 closing price of $111.69
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 18 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)