Boot Barn (BOOT) Q3 2026 earnings summary

Executive summary

• Third quarter net sales rose 16% year-over-year to $705.6–$706 million, with consolidated same-store sales up 5.7% and e-commerce same-store sales up 19.6%.

• Net income for the quarter was $85.8 million ($2.79 per diluted share), up from $75.1 million ($2.43 per diluted share) in the prior year, excluding a prior-year CEO transition benefit.

• Broad-based sales strength was seen across all major merchandise categories, both in stores and online, with exclusive brands and e-commerce driving margin expansion.

• The company operated 514 stores at quarter-end, up from 438 a year earlier, with 25 new stores opened in the quarter and 76 new stores opened year-over-year.

• Over a decade of strong sales growth, with a ~19% CAGR and projected FY26 sales at $2.25 billion, supported by new store openings and robust SSS performance.

Financial highlights

• Gross profit for the quarter was $281.2 million (39.9% of net sales), up 17.7% year-over-year, with gross margin improving by 60 basis points.

• SG&A expenses were $166.5 million (23.6% of net sales), up due to higher store payroll, more stores, and increased marketing.

• Income from operations was $114.8–$115 million (16.3% of net sales), up 15.4% year-over-year.

• For the nine months, net sales grew 17.7% to $1.715 billion, and net income rose 26.6% to $181.4 million.

• Cash and cash equivalents were $200 million at quarter-end, with no borrowings on a $250 million credit line.

Outlook and guidance

• Fiscal 2026 sales expected between $2.24 billion and $2.25 billion, up 17–18% year-over-year, with consolidated same-store sales growth forecasted at 6.5–7.0%.

• Net income projected at $222.8–$226 million, or $7.25–$7.35 per diluted share.

• 70 new store openings planned for the fiscal year, with capital expenditures estimated at $125–$130 million.

• Fourth quarter sales expected at $525–$535 million, with net income per diluted share of $1.35–$1.45.

• Merchandise margin for Q4 projected at 50.5% of sales, down 60 basis points year-over-year due to higher shrink and freight.