Boot Barn Q3 net sales rise 16% on e-commerce strength

Overview

• Western lifestyle retailer's Q3 net sales rose 16% yr/yr to $705.6 mln

• Net income for Q3 was $85.8 mln, up from $75.1 mln last year

• Company opened 25 new stores, totaling 514 locations

Outlook

• Boot Barn expects fiscal 2026 sales of $2.24 bln to $2.25 bln

• Company projects opening 70 new stores in fiscal 2026

• Boot Barn forecasts Q4 sales growth of 16% to 18%

Result Drivers

• SALES GROWTH - Net sales increased 16% driven by broad-based demand across merchandise categories, channels, and geographies, according to CEO John Hazen

• E-COMMERCE PERFORMANCE - E-commerce same store sales surged 19.6%, significantly contributing to overall sales growth

• STORE EXPANSION - The opening of 25 new stores added to sales growth, bringing the total store count to 514

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 3 "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 $232.50, about 27.9% above its February 3 closing price of $181.82

• The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 25 three months ago

Press Release: ID:nBw9rgtya

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