Boot Barn Q1 sales beat estimates on e-commerce growth

Overview

• U.S. western and workwear retailer's fiscal Q1 net sales rose 17.7%, beating analyst expectations

• Fiscal Q1 net income rose to $70.1 mln, with EPS at $2.29, aided by tariff refunds

• Company opened 27 new stores and repurchased $25 mln in shares during the quarter

Outlook

• Boot Barn sees FY27 sales of $2.58 bln to $2.63 bln, up 14% to 16%

• Company expects FY27 net income per diluted share of $8.80 to $9.23

• Boot Barn expects Q2 sales of $572 mln to $582 mln, up 13% to 15%

Result Drivers

• TARIFF REFUNDS - Co recognized $14.7 mln in tariff refunds in cost of goods sold, boosting gross profit and net income

• NEW STORE OPENINGS - Incremental sales from 27 new stores contributed to net sales growth

• E-COMMERCE GROWTH - E-commerce same store sales rose 13.4%, outpacing retail store growth

Company press release: ID:nBw4D7jjta

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 2 "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 $224.56, about 41.6% above its July 28 closing price of $158.62

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 17 three months ago

Reuters Recommended Reads

• July 28 - Rocky Brands Q2 profit beats on on tariff refunds, strong demand

• July 29 - VF Corp beats Q1 revenue estimates, raises FY27 outlook

• July 28 - Logitech beats forecasts after US tariff refund

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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.)