What is Boot Barn's gross profit margin?

What were the key takeaways from Boot Barn's earnings call?

What is the market's earnings forecast for Boot Barn next quarter?

What does Boot Barn do and what are its main business segments?

What is Boot Barn's latest dividend and current dividend yield?

Did Boot Barn beat or miss consensus estimates last quarter?

What factors drove the changes in Boot Barn's revenue and profit?

What were the key takeaways from Boot Barn’s earnings call?

- **Revenue & Profit Growth**: Q2 revenue up 19% to $505M, EPS jumps 44% to $1.37, driven by 8.4% same-store sales growth and 64 new stores.
- **Market Expansion**: TAM expands to $58B, targeting 1,200 stores by FY26 with 12-15% annual growth; exclusive brands now 41% of sales.
- **E-commerce Surge**: Q2 e-commerce sales +14.4%, October comps up 24% via AI-driven search and paid social media.
- **Financial Strength**: Non-GAAP EPS beats expectations at $1.08, gross profit +20% to $184M, with 50 basis points margin improvement.
- **Strategic Initiatives**: New Hawx and Cody James websites boost omnichannel engagement; AI integration enhances customer experience and inventory efficiency.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 revenue increased 19% to $505 million, driven by 8.4% consolidated same-store sales growth and 64 new stores opened over the past year. EPS rose 44% to $1.37.
- **Market Expansion**: Total addressable market (TAM) expanded from $40 billion to $58 billion, with a long-term store target of 1,200 locations (12-15% annual growth). Exclusive brand penetration reached 41% of sales.
- **Strategic Initiatives**: New websites for Hawx and Cody James brands drove omnichannel engagement, and AI integration improved customer experience and inventory management.

**【CFO Financial Commentary】**
- **Financial Performance**: GAAP net income was $420 million, with Non-GAAP EPS of $1.08 exceeding expectations. Gross profit rose 20% to $184 million, reflecting a 50 basis point improvement in gross profit rate.
- **Guidance Update**: Full-year sales projected at $2.235 billion (+17%), with 6% same-store sales growth and 50 basis points of merchandise margin expansion. Capital expenditures expected between $125 million and $130 million.
- **Balance Sheet**: $65 million in cash, $0 drawn on $250 million revolving credit facility, and $12.5 million in share repurchases under a $200 million program.

**【Q&A Highlights】**
- **Comps & Tariffs**: October comps accelerated to 9.3%, but Q3 guidance includes a 3% macro haircut. Exclusive brand price increases will be implemented post-holiday to mitigate tariff impacts.
- **E-commerce Success**: E-commerce sales grew 14.4% in Q2, with October comps up 24% driven by AI-enhanced search and paid social media.
- **Store Growth**: 70 new stores planned for FY26 (25 in Q3, 15 in Q4), with average store sales of $3.2 million and 100 basis points of same-store sales tailwind.
- **Margin Leverage**: Operating margin target of 15% remains achievable, with buying/occupancy leverage at 7.5% and SG&A efficiency improving by 120 basis points.

Boot Barn Holdings, Inc. (BOOT) Q2 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

BOOT

BOOT fundamentals

You can ask Aime