Boot Barn Raises Earnings Per Share 26.3% to $1.73 in Fiscal Second Quarter

Key Facts

Boot Barn reported results on October 28 for the second quarter of its 2027 fiscal year, ended September 26, 2026, with diluted earnings per share rising 26.3% to $1.73 from $1.37 a year earlier. Net sales reached $581.8 million, up 15.1% from $505.4 million in the year-earlier period, while net income came to $52.5 million versus $42.2 million. Earnings per share topped analysts’ estimate of $1.64, while revenue came in slightly below their estimate of $582.14 million. The company estimated that tariff refunds added $0.05 to earnings per share in the quarter. The results put strong earnings and revenue growth alongside a slower comparable-sales reading and softer forward guidance.

Comparable sales rose 1.4% overall, with store sales up 1.0% and e-commerce up 5.2%. The gap between 15.1% net sales growth and comparable-sales growth shows that expansion contributed to higher revenue, while growth at existing stores and in digital channels remained narrower. The company said women’s western boots weighed on e-commerce comparable sales by about 650 basis points, despite growing 5.2%. This category represents a share of online sales nearly twice its share in stores, the company said on the earnings call. Boot Barn said it had updated its women’s footwear assortment ahead of the holiday season, alongside expanding its nationwide marketing campaign.

Merchandise margin rose 190 basis points during the quarter, which the company attributed mainly to lower freight costs, adding 130 basis points. Tariff refunds contributed 40 basis points, while improved product margins added 20 basis points. The company said the estimated effect of tariff refunds in the quarter was $0.05 per share. For fiscal 2027, it estimated that refunds would add $17.6 million to merchandise margin and $0.45 to diluted earnings per share. These factors help explain earnings growth, alongside higher sales during the period.

In the first half of fiscal 2027, net sales rose 16.4% to $1.175 billion, and net income reached $122.6 million. Diluted earnings per share were $4.02, compared with $3.11 in the year-earlier period. The company also raised its full-year outlook to sales of between $2.565 billion and $2.593 billion, representing growth of between 14% and 15% over fiscal 2026. Its diluted earnings per share outlook for the year is between $8.72 and $9.00. The full-year outlook includes an estimated $0.45-per-share effect from tariff refunds.

For the fiscal third quarter, Boot Barn expects sales of between $785 million and $802 million, equivalent to annual growth of between 11% and 14%. The revenue growth range is paired with a comparable-sales outlook ranging from a 1.0% decline to 1.0% growth. In the first four weeks of the quarter, the CEO said consolidated comparable sales were slightly positive. He added that the company faced unusually warm weather in key markets and a comparison with strong growth in the prior year. The fiscal quarter ends December 26, 2026, according to the company’s statement.

The company also raised its fiscal 2027 store-opening plan to a range of 75–80 stores, from 70 stores, citing strength in its real estate pipeline. It opened 19 stores during the quarter, bringing its total to 584 at quarter-end. The CEO said new stores had exceeded the company’s expectations and that it was preparing for the holiday season with an updated assortment and an expanded national marketing campaign. He added that momentum in work activity and the relaunch of the Boot Barn Workforce program provide additional opportunities to support sales. In the same quarter, the company repurchased 240,937 shares for $35 million; the board also authorized an additional $400 million repurchase authorization on October 21, leaving about $468 million available.

After the results were announced, the company’s shares fell 2.8% in extended trading on October 28, according to an Investing.com report. EL7 data show the shares closed at $111.69 on October 27 and $113.30 on October 28. The company’s outlook for the next quarter includes annual growth in total sales, while its comparable-sales guidance allows for a limited decline. Results in the coming holiday season remain tied to performance in the categories that weighed on e-commerce sales and to demand in markets that faced warm weather. Fiscal 2027 ends March 27, 2027, according to the company’s outlook.