Boot Barn Holdings, Inc. Reveals Financial Results for the Initial Quarter of Fiscal Year 2026
Boot Barn Holdings Reports Strong Q2 2025 Financial Results
Boot Barn Holdings, Inc., a leading western and workwear retailer, has announced its financial results for the quarter ended June 28, 2025. The company reported significant growth in revenue, profitability, and gross margin, despite facing some challenges in certain metrics.
Revenue Growth
The quarter saw a 19.1% increase in net sales compared to the same period in 2024, reaching approximately $504.1 million. The company projected Q2 2026 sales between $487 million and $495 million, indicating continued strong top-line growth.
Gross Profit and Margin
Gross profit reached $197.2 million in Q1 FY2026, with a gross margin of 39.1%, up from 37.0% in Q1 FY2025. This improvement was due to better merchandise margin from buying power, lower freight costs, and expanded exclusive brand sales.
Profitability
Income from operations for Q1 2026 was $71 million, or 14% of sales, up from $50 million (11.9%) in the prior year quarter. Net income per diluted share rose 38% to $1.74, from $1.26 per share previously. However, adjusted EBITDA dropped steeply in fiscal Q2 2025 to $0.4 million from $4.5 million a year earlier, largely due to property dispositions and lease expirations.
Expenses
Selling, general, and administrative (SG&A) expenses stayed well controlled at about 25.1% of sales, slightly improving over prior periods mainly due to lower incentive compensation expenses, though partly offset by higher marketing spend.
Inventory and Store Expansion
Inventory grew 23% year-over-year to $774 million, aligned with adding 15% more stores and growth of exclusive brand penetration. The company plans to open 65-70 new stores in fiscal 2026.
Full-Year Outlook
Boot Barn raised its fiscal 2026 guidance, projecting total sales between $2.1 billion and $2.18 billion (10-14% growth) and diluted EPS between $5.80 and $6.70, reflecting confidence in ongoing growth momentum.
Other Highlights
- Consolidated same store sales increased 9.4% for the quarter, with retail store same store sales increasing 9.5% and e-commerce same store sales increasing 9.3%.
- The company repurchased 77,959 shares of its common stock for an aggregate purchase price of $12.5 million in the current-year period.
- Cash on hand was $95 million as of June 28, 2025.
- Boot Barn operates 475 stores in 49 states, in addition to online platforms www.bootbarn.com, www.sheplers.com, and www.countryoutfitter.com.
Cautionary Statement Regarding Forward-Looking Statements
The press release contains forward-looking statements that are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements. The company discusses these risks and other risks in greater detail under the heading "Risk factors" in its periodic reports filed with the Securities and Exchange Commission. The company does not intend to update or revise the forward-looking statements in this press release after the date of this press release.
For more information, call 888-Boot-Barn or visit www.bootbarn.com.
- The cloud of continued strong top-line growth for Boot Barn Holdings, Inc. is evident, as the company has projected Q2 2026 sales between $487 million and $495 million.
- The financial results of Boot Barn Holdings, Inc. indicate that investing in the company's business may prove beneficial, as the company's net income per diluted share rose 38% to $1.74 in Q2 2025.
- Despite facing some challenges in certain metrics, the company's personal-finance health remains robust, with cash on hand reaching $95 million as of June 28, 2025.
- News about the industry has been positive, as Boot Barn Holdings, Inc. has been successful in expanding its business, adding 15% more stores and growing exclusive brand penetration.
