Boot Barn net income reaches $52.5 million as EPS jumps 26.3%
Key Facts
Boot Barn reported net income of $52.5 million for its fiscal second quarter ended September 26, 2026, while diluted earnings per share rose 26.3% to $1.73 from $1.37 a year earlier, according to results reported by Reuters via Investing.com. Profit growth came alongside a 15.1% increase in net sales to $581.8 million, compared with $505.4 million in the year-ago period. But comparable sales, which measure performance at established stores and in e-commerce, rose just 1.4%. Comparable store sales grew 1.0%, versus 5.2% for e-commerce. The results reflected a mix of revenue expansion and improved merchandise margin, with tariff refunds contributing to the period's earnings.
The company said its merchandise margin rate rose 190 basis points during the quarter, attributing most of the improvement to lower freight expense, which added 130 basis points. Tariff refunds contributed 40 basis points, while product margin expansion added 20 basis points. Tariff refunds totaled $2.2 million, and the company estimated their impact on earnings per share at $0.05. Lower freight costs were therefore the biggest factor in the margin improvement, while refunds and products provided smaller boosts. The company's breakdown puts the sources of margin improvement in clearer context than describing the increase as the result of operating efficiency.
For the first half of the fiscal year, sales rose 16.4% to $1.175 billion, and net income was $122.6 million. Diluted earnings per share reached $4.02, compared with $3.11 in the year-ago period. Tariff refunds totaled $16.9 million in the first half, and the company estimated their combined impact on earnings per share at $0.43. First-quarter results, for the period ended June 27, 2026, included sales of $593.5 million, up 17.7%, and comparable sales growth of 4.7%. The company reported net income of $70.1 million and diluted earnings per share of $2.29 for that quarter, and also recognized tariff refunds of $14.7 million with an estimated impact of $0.38 per share.
Before reporting results, Boot Barn had set a second-quarter sales range of $572 million to $582 million and a diluted earnings-per-share range of $1.55 to $1.65. In an update issued on September 14, the company said it expected sales and earnings to come in at the high end of the previous ranges. Actual sales were $581.8 million, while earnings per share came in at $1.73, exceeding the upper end of both announced ranges. In the statement, Chief Executive John Hazen said recently opened stores were "generating sales above our original expectations." He added that this reflects "the expanding national reach of the brand" and the long-term opportunity for expansion.
The company opened 19 new stores during the quarter, bringing its total to 584 at quarter-end. On capital allocation, it repurchased 399,388 shares for $60 million during the first half of fiscal 2027. On October 21, 2026, the board authorized an additional $400 million share repurchase program. That raised the remaining authorization to about $468 million. The company also plans to open 75 to 80 stores during fiscal 2027, extending the expansion that added new stores during the quarter.
Boot Barn expects sales of $2.565 billion to $2.593 billion for the fiscal year ending March 27, 2027, equivalent to growth of 14% to 15%. It also expects comparable sales growth of 0.8% to 2.0% and diluted earnings per share of $8.72 to $9.00. The earnings range includes an estimated impact of $0.45 per share from tariff refunds. The company said a call to discuss results would be held on October 28, 2026, at 4:30 p.m. Eastern time, with a supplemental financial presentation available on its investor relations website. BOOT shares closed at $111.69 on October 27, 2026.