Boot Barn's Q3 results beat consensus, but outlook falls short

Despite recording a 16.9 percent increase in its third quarter net sales to 608.2 million dollars, lifestyle retailer Boot Barn’s shares tumbled 7.5 percent in after-hours trading since its guidance failed to meet analyst expectations.

Boot Barn's outlook falls short of market expectations

According to the Investing.com report, for the fiscal year ending March 29, 2025, the company expects EPS of 5.81 dollars to 5.90 dollars against the analyst estimate of 5.84 dollars. The company's revenue forecast aligns with the consensus, projected at 1.91 to 1.92 billion dollars.

Boot Barn’s fourth-quarter forecast includes an EPS range of 1.17 dollars to 1.26 dollars and revenue between 451 and 460 million dollars. These figures fall slightly below analyst projections of 1.25 dollars EPS and 455.3 million dollars in revenue.

Despite the market reaction, John Hazen, Boot Barn’s interim CEO, expressed optimism about the company’s future. He stated, "We feel very good about the overall tone of the business and the future growth potential of the brand."

Boot Barn posts strong Q3 and nine month results

Boot Barn posted robust third-quarter and nine-month financial results.

Hazen also acknowledged the company’s strong performance during the holiday season, adding, “I want to thank the entire Boot Barn team for their excellent execution and dedication during a busy holiday season, which resulted in strong third-quarter results and earnings per diluted share above the high end of our guidance range.”

The Irvine, California-based company’s third quarter same store sales growth of 8.6 percent driven by an increase of 8.2 percent in retail store same store sales and 11.1 percent in e-commerce.

For the nine month period, net sales increased 14 percent to 1.457 billion dollars and same store sales increased 5.4 percent. The company’s retail store same store sales increased 4.8 percent and e-commerce saw an increase of 9.7 percent. Boot Barn attributed the increase to incremental sales from new stores and the increase in consolidated same store sales.

The company said net income for the third quarter increased to 75.1 million dollars, or 2.43 dollars per diluted share. For the year-to-date nine month period, net income rose to 143.4 million dollars or 4.64 dollars per diluted share.

Boot Barn opened 13 new stores during the third quarter, reaching a total store count to 438 as of the quarter end.