How did Boot Barn's revenue and expenses trend in Q3 2025?

Boot Barn's revenue and expenses in Q3 2025 showed strong growth and effective cost management: 1. **Revenue Growth**: Boot Barn experienced a significant 17% increase in revenue for the third quarter of 2025, reaching approximately $608.2 million. This growth was driven by consolidated same-store sales growth of 8.6%, with stores contributing 8.2% and e-commerce 11.1%. New store openings, including 13 in the quarter, also boosted sales. 2. **Gross Profit Expansion**: Gross profit surged by 20% to $239 million, resulting in a gross profit rate of 39.3%, a 100 basis point increase from the previous year. This improvement was due to supply chain efficiencies, better buying economies of scale, and increased penetration of exclusive brands. 3. **SG&A Expenses Management**: SG&A expenses decreased by 90 basis points to 22.9% of sales, amounting to $139 million. This efficient cost control allowed Boot Barn to focus on growth initiatives while maintaining profitability. 4. **Inventory and Cash Position**: Inventory increased by 23% to $690 million, reflecting strong sales performance. The company maintained a robust cash position with $153 million in cash and zero drawn on a $250 million revolving line of credit. In summary, Boot Barn's Q3 2025 financial performance highlighted strong revenue growth, enhanced profitability, and effective expense management, positioning the company for continued expansion and success.