Boot Barn Holdings Inc
Q3 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: −0.06%.
Did BOOT Beat Earnings? Q3 2026 Results
Boot Barn delivered a clean beat to close out its fiscal third quarter, with earnings of $2.79 per diluted share edging past the $2.77 consensus estimate and revenue of $705.64 million topping expectations by a narrow but meaningful margin, rising 16.0% year over year. The quarter's standout driver was a 5.7% consolidated same-store sales gain, anchored by a 19.6% surge in e-commerce comps as the company's strategy of launching dedicated Shopify storefronts for exclusive brands drew in new customers at scale. Merchandise margins expanded 110 basis points, aided by buying efficiencies and growing penetration of exclusive brands, which carry roughly a 1,000 basis point margin premium over third-party labels and are on track to represent 41.0% of sales in fiscal 2026. Boot Barn also opened 25 new stores in the quarter, bringing its total to 514 as it pursues a long-term target of 1,200 U.S. locations. Management raised full-year guidance, now projecting revenue of $2.24 billion to $2.25 billion and diluted EPS of $7.25 to $7.35, with analysts growing increasingly constructive on the company's earnings growth model.
- Consolidated same-store sales growth of 5.7%
- E-commerce same-store sales growth of 19.6%
- Merchandise margin expansion of 110 basis points driven by buying economies of scale, supply chain efficiencies, and exclusive brand penetration growth
- Exclusive brands penetration expected to reach 41.0% in FY26, up from 38.6% in FY25
- Broad-based demand across merchandise categories, channels, and geographies
- 25 new stores opened during the quarter bringing total to 514
“We are very pleased with our third quarter results and the strength of our holiday performance across the chain. Sales increased 16% year over year, reflecting broad-based demand across merchandise categories, channels, and geographies. Merchandise margin expanded by 110 basis points, and combined with solid expense control, drove strong earnings per diluted share of $2.79.”
Boot Barn CEO, on the earnings call
Forward Guidance & Outlook
Boot Barn raised its full-year FY2026 guidance. The company now expects total sales of $2.24 billion to $2.25 billion (17%-18% growth), consolidated same-store sales growth of 6.5%-7.0%, and diluted EPS of $7.25 to $7.35 on 30.7 million weighted average diluted shares. The company plans to open 70 new stores. For Q4 FY2026, the company expects total sales of $525-$535 million (16%-18% growth), consolidated same-store sales growth of 3.0%-5.0%, and diluted EPS of $1.35-$1.45. Capital expenditures for the full year are expected between $125-$130 million, net of $45 million in estimated landlord tenant allowances. Preliminary Q4 comps through five weeks were 5.7%, negatively impacted by approximately $5 million from winter storm-related store closures; pre-storm comps were 9.1%.
BOOT YoY Financials
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