Form 8-K
8-K — Boot Barn Holdings, Inc.
Accession: 0001104659-26-061169
Filed: 2026-05-14
Period: 2026-05-14
CIK: 0001610250
SIC: 5661 (RETAIL-SHOE STORES)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — boot-20260514x8k.htm (Primary)
EX-99.1 (boot-20260514xex99d1.htm)
EX-99.2 (boot-20260514xex99d2.htm)
GRAPHIC (boot-20260514xex99d1001.jpg)
GRAPHIC (boot-20260514xex99d2g001.jpg)
GRAPHIC (boot-20260514xex99d2g002.jpg)
GRAPHIC (boot-20260514xex99d2g003.jpg)
GRAPHIC (boot-20260514xex99d2g004.jpg)
GRAPHIC (boot-20260514xex99d2g005.jpg)
GRAPHIC (boot-20260514xex99d2g006.jpg)
GRAPHIC (boot-20260514xex99d2g007.jpg)
GRAPHIC (boot-20260514xex99d2g008.jpg)
GRAPHIC (boot-20260514xex99d2g009.jpg)
GRAPHIC (boot-20260514xex99d2g010.jpg)
GRAPHIC (boot-20260514xex99d2g011.jpg)
GRAPHIC (boot-20260514xex99d2g012.jpg)
GRAPHIC (boot-20260514xex99d2g013.jpg)
GRAPHIC (boot-20260514xex99d2g014.jpg)
GRAPHIC (boot-20260514xex99d2g015.jpg)
GRAPHIC (boot-20260514xex99d2g016.jpg)
GRAPHIC (boot-20260514xex99d2g017.jpg)
GRAPHIC (boot-20260514xex99d2g018.jpg)
GRAPHIC (boot-20260514xex99d2g019.jpg)
GRAPHIC (boot-20260514xex99d2g020.jpg)
GRAPHIC (boot-20260514xex99d2g021.jpg)
GRAPHIC (boot-20260514xex99d2g022.jpg)
GRAPHIC (boot-20260514xex99d2g023.jpg)
GRAPHIC (boot-20260514xex99d2g024.jpg)
GRAPHIC (boot-20260514xex99d2g025.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: boot-20260514x8k.htm · Sequence: 1
Boot Barn Holdings, Inc._May 14, 2026
0001610250false00016102502026-05-142026-05-14
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 14, 2026
Boot Barn Holdings, Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-36711
90-0776290
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
17100 Laguna Canyon Road, Irvine, California
92618
(Address of principal executive offices)
(Zip Code)
(949) 453-4400
(Registrant’s telephone number, including area code)
Not Applicable
(Former Address)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, $0.0001 par value
BOOT
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On May 14, 2026, Boot Barn Holdings, Inc. (the “Company”) issued a press release announcing certain financial results for its fiscal fourth quarter and fiscal year ended March 28, 2026. The press release is attached hereto as Exhibit 99.1 and incorporated into this Item 2.02 by reference.
The information provided in this Item 2.02, including Exhibit 99.1, is intended to be “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 7.01 Regulation FD Disclosure.
The Company is furnishing this Current Report on Form 8-K in connection with the disclosure of information contained in a supplemental financial presentation (the “Presentation”) to be used by the Company at various meetings with institutional investors and analysts. This information may be amended or updated at any time and from time to time through another Current Report on Form 8-K or other means. A copy of the Presentation is furnished herewith as Exhibit 99.2 and is incorporated into this Item 7.01 by reference.
The information furnished in this Item 7.01, including Exhibit 99.2, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any other filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.
The Company expressly disclaims any obligation to update or revise any of the information contained in the Presentation.
The Presentation is available on the Company’s investor relations website located at investor.bootbarn.com, although the Company reserves the right to discontinue that availability at any time. The website address included herein is an inactive textual reference only. The information contained on such website is not incorporated into this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
Exhibit Number
Description
Exhibit 99.1
Press release dated May 14, 2026.
Exhibit 99.2
Supplemental Financial Presentation dated May 14, 2026.
Exhibit 104
The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BOOT BARN HOLDINGS, INC.
Date: May 14, 2026
By:
/s/ James M. Watkins
Name: James M. Watkins
Title: Chief Financial Officer and Secretary
EX-99.1
EX-99.1
Filename: boot-20260514xex99d1.htm · Sequence: 2
Exhibit 99.1
Boot Barn Holdings, Inc. Announces Fourth Quarter and Fiscal 2026 Financial Results
IRVINE, California – May 14, 2026 – Boot Barn Holdings, Inc. (NYSE: BOOT) (the “Company,” “we,” “us,” and “our””) today announced its financial results for the fourth fiscal quarter and fiscal year ended March 28, 2026. A Supplemental Financial Presentation is available at investor.bootbarn.com.
For the quarter ended March 28, 2026 compared to the quarter ended March 29, 2025:
● Net sales increased 18.7% over the prior-year period to $538.8 million.
● Same store sales increased 6.1%, with retail store same store sales increasing 5.2% and e-commerce same store sales increasing 14.1%.
● Net income was $44.4 million, or $1.45 per diluted share, compared to $37.5 million, or $1.22 per diluted share, in the prior-year period.
● The Company opened 25 new stores, bringing its total store count to 539 as of the quarter end.
For the fiscal year ended March 28, 2026 (“Fiscal 2026”) compared to the fiscal year ended March 29, 2025 (“Fiscal 2025”):
● Net sales increased 17.9% over the prior year to $2.254 billion.
● Same store sales increased 7.2%, with retail store same store sales increasing 6.2% and e-commerce same store sales increasing 15.3%.
● Net income was $225.9 million, or $7.35 per diluted share, compared to $180.9 million, or $5.88 per diluted share, in Fiscal 2025.
● The Company opened 80 new stores, bringing its total store count to 539 as of the fiscal year end.
John Hazen, Chief Executive Officer, commented, “I am very proud of our performance in Fiscal 2026, which marked a record year for Boot Barn and reflects the strength of our business and the dedication of our team. We delivered strong results across key metrics, including 18% total sales growth, 80 basis points of merchandise margin expansion, and 25% growth in earnings per diluted share. We opened 80 new stores and generated 7.2% same store sales growth. The broad-based strength across merchandise categories, channels, and geographic regions underscores the strong appeal of the brand and the disciplined execution of our strategic initiatives. Looking ahead, I believe Boot Barn is well positioned to build on this foundation, and I remain confident in our ability to drive continued growth and deliver long-term value for our shareholders.”
Operating Results for the Fourth Quarter Ended March 28, 2026 Compared to the Fourth Quarter Ended March 29, 2025
● Net sales increased 18.7% to $538.8 million from $453.7 million in the prior-year period. Consolidated same store sales increased 6.1%, with retail store same store sales increasing 5.2% and e-commerce same store sales increasing 14.1%. The increase in net sales was the result of incremental sales from new stores and the increase in consolidated same store sales.
● Gross profit was $195.7 million, or 36.3% of net sales, compared to $168.6 million, or 37.1% of net sales, in the prior-year period. The increase in gross profit was primarily due to an increase in sales, partially offset by the occupancy costs of new stores. The 80 basis-point decrease in gross profit rate was driven primarily by 50 basis points of deleverage in buying, occupancy and distribution center costs and a 30 basis-point decrease in merchandise margin rate. The deleverage in buying, occupancy and distribution center costs was primarily driven by
1
the occupancy costs of new stores. The decrease in merchandise margin rate was primarily the result of cycling low shrink and low freight expense in the prior-year period, partially offset by better buying economies of scale and growth in exclusive brand penetration in the current-year period.
● Selling, general and administrative (“SG&A”) expenses were $138.5 million, or 25.7% of net sales, compared to $118.9 million, or 26.2% of net sales, in the prior-year period. The increase in SG&A expenses compared to the prior-year period was primarily the result of higher store payroll and store-related expenses associated with operating more stores and marketing expenses in the current-year period. SG&A expenses as a percentage of net sales leveraged by 50 basis points primarily as a result of lower corporate general and administrative expenses in the current-year period.
● Income from operations increased $7.5 million to $57.2 million, or 10.6% of net sales, compared to $49.7 million, or 11.0% of net sales, in the prior-year period, primarily due to the factors noted above.
● Income tax expense was $13.2 million, or a 22.9% effective tax rate, compared to $12.4 million, or a 24.8% effective tax rate, in the prior-year period. The decrease in the effective tax rate was primarily due to discrete tax benefits recorded in the current-year period, including return-to-provision adjustments, updates to state apportionment factors, and the effects of tax law changes enacted in the current-year period.
● Net income was $44.4 million, or $1.45 per diluted share, compared to $37.5 million, or $1.22 per diluted share, in the prior-year period. The increase in net income was primarily attributable to the factors noted above.
Operating Results for the Fiscal 2026 Compared to Fiscal 2025
● Net sales increased 17.9% to $2.254 billion from $1.911 billion in Fiscal 2025. Consolidated same store sales increased 7.2%, with retail store same store sales increasing 6.2% and e-commerce same store sales increasing 15.3%. The increase in net sales was the result of incremental sales from new stores and the increase in consolidated same store sales.
● Gross profit was $858.4 million, or 38.1% of net sales, compared to $717.0 million, or 37.5% of net sales, in Fiscal 2025. The increase in gross profit was primarily due to an increase in sales and merchandise margin, partially offset by the occupancy costs of new stores. The increase in gross profit rate was driven primarily by an 80 basis-point increase in merchandise margin rate, partially offset by 20 basis points of deleverage in buying, occupancy and distribution center costs. The increase in merchandise margin rate was primarily the result of better buying economies of scale, growth in exclusive brand penetration, and supply chain efficiencies. The deleverage in buying, occupancy and distribution center costs was driven by the occupancy costs of new stores.
● SG&A expenses were $559.2 million, or 24.8% of net sales, compared to $477.7 million, or 25.0% of net sales, in the prior year. The increase in SG&A expenses compared to Fiscal 2025 was primarily the result of higher store payroll and store-related expenses associated with operating more stores, marketing expenses, and corporate general and administrative expenses in Fiscal 2026. SG&A expenses as a percentage of net sales leveraged by 20 basis points primarily as a result of lower corporate general and administrative expenses in Fiscal 2026. Included in Fiscal 2025 is a net benefit of $6.7 million related to the Company’s former Chief Executive Officer’s (“CEO”) resignation. Excluding this benefit in the prior year, SG&A expenses as a percentage of net sales leveraged by 50 basis points.
● Income from operations increased $59.8 million to $299.1 million, or 13.3% of net sales, compared to $239.4 million, or 12.5% of net sales, in Fiscal 2025, primarily due to the factors noted above.
● Income tax expense was $74.7 million, or a 24.9% effective tax rate, compared to $59.2 million, or a 24.6% effective tax rate, in Fiscal 2025. The increase in the effective tax rate was primarily due to a decrease in excess tax benefits on stock-based compensation.
2
● Net income was $225.9 million, or $7.35 per diluted share, compared to $180.9 million, or $5.88 per diluted share, in Fiscal 2025. Included in net income per diluted share in Fiscal 2025 is a net benefit of $6.7 million, or $0.22 per share, related to the Company’s former Chief Executive Officer’s resignation. The increase in net income was primarily attributable to the factors noted above.
Sales by Channel
The following table includes total net sales growth, same store sales (“SSS”) growth and e-commerce as a percentage of net sales for the periods indicated below.
Preliminary
Thirteen Weeks
Preliminary
Two Weeks
Ended
Four Weeks
Four Weeks
Five Weeks
Four Weeks
Ended
March 28, 2026
Fiscal January
Fiscal February
Fiscal March
Fiscal April
May 9, 2026
Total Net Sales Growth
18.7
%
21.6
%
20.4
%
15.6
%
Retail Stores SSS
5.2
%
5.9
%
6.9
%
3.5
%
3.8
%
5.0
%
E-commerce SSS
14.1
%
12.9
%
15.0
%
14.5
%
18.3
%
5.1
%
Consolidated SSS
6.1
%
6.7
%
7.7
%
4.5
%
5.0
%
5.0
%
Balance Sheet Highlights as of March 28, 2026
● Cash of $141 million.
● The Company repurchased 68,472 and 286,504 shares of its common stock during the thirteen and fifty-two weeks ended March 28, 2026, respectively, for an aggregate purchase price of $12.5 million and $50.0 million, respectively, under its $200 million authorized repurchase program.
● Average inventory per store decreased approximately 0.6% on a same-store basis compared to Fiscal 2025.
● Zero drawn under the $250 million revolving credit facility.
Fiscal Year 2027 Outlook
The Company is providing guidance for what it can reasonably expect at this time. For the fiscal year ending March 27, 2027 the Company expects:
● To open 70 stores, in addition to 10 stores that were accelerated and opened in the fourth quarter of Fiscal 2026.
● Total sales of $2.578 billion to $ 2.623 billion, representing growth of 14% to 16% over Fiscal 2026.
● Consolidated same store sales growth of 2.0% to 4.0%, with retail store same store sales growth of 1.0 % to 3.0% and e-commerce same store sales growth of 11.0% to 13.0%.
● Merchandise margin between $1.326 billion and $1.349 billion, or approximately 51.4% of sales.
● Gross profit between $971 million and $994 million, or approximately 37.7% to 37.9% of sales.
● SG&A expenses between $636 million and $641 million, or approximately 24.7% to 24.4% of sales.
● Income from operations between $335 million and $353 million, or approximately 13.0% to 13.5% of sales.
● Net income of $251.1 million to $264.5 million.
● Net income per diluted share of $8.21 to $8.64, based on 30.6 million weighted average diluted shares outstanding.
● Effective tax rate of 25.7%.
● Capital expenditures between $125 million and $130 million, which is net of estimated landlord tenant allowances of $47.6 million.
For the first fiscal quarter ending June 27, 2026, the Company expects:
● Total sales of $574 million to $584 million, representing growth of 14% to 16% over the prior-year period.
3
● Consolidated same store sales growth of 2.0% to 4.0%, with retail store same store sales growth of 1.0% to 3.0% and e-commerce same store sales growth of 12.0% to 14.0%.
● Merchandise margin between $295 million and $300 million, or approximately 51.5% of sales.
● Gross profit between $213 million and $218 million, or approximately 37.1% to 37.3% of sales.
● SG&A expenses between $147 million and $149 million, or approximately 25.7% to 25.5% of sales.
● Income from operations between $65 million and $69 million, or approximately 11.4% to 11.9% of sales.
● Net income per diluted share of $1.62 to $1.71, based on 30.6 million weighted average diluted shares outstanding.
Conference Call Information
A conference call to discuss the financial results for the fourth fiscal quarter and fiscal year ended March 28, 2026, is scheduled for today, May 14, 2026, at 4:30 p.m. ET (1:30 p.m. PT). Investors and analysts interested in participating in the call are invited to dial (844) 825-9789. The conference call will also be available to interested parties through a live webcast at investor.bootbarn.com. Please visit the website and select the “Events and Presentations” link at least 15 minutes prior to the start of the call to register and download any necessary software. A Supplemental Financial Presentation is also available on the investor relations section of the Company’s website. A telephone replay of the call will be available until June 14, 2026, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 10208791. Please note participants must enter the conference identification number in order to access the replay.
About Boot Barn
Boot Barn is the nation’s leading lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company offers its loyal customer base a wide selection of work and lifestyle brands. As of the date of this release, Boot Barn operates 552 stores in 49 states. For more information, call 888-Boot-Barn or visit www.bootbarn.com.
Forward Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements refer to the Company’s current expectations and projections relating to, by way of example and without limitation, the Company’s financial condition, liquidity, profitability, results of operations, margins, plans, objectives, strategies, future performance, business, and industry. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan“, “intend”, “believe”, “may”, “might”, “will”, “could”, “should”, “can have”, “likely”, “outlook”, and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events, but not all forward-looking statements contain these identifying words. These forward-looking statements are based on assumptions that the Company’s management has made in light of their industry experience and on their perceptions of historical trends, current conditions, expected future developments and other factors that they believe are appropriate under the circumstances. As you consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond the Company’s control) and assumptions. These risks, uncertainties, and assumptions include, but are not limited to, the following: decreases in consumer spending due to declines in consumer confidence, local economic conditions, or changes in consumer preferences; the impact that import tariffs and other trade restrictions imposed by the U.S. or other countries have had, and may continue to have, on our product costs and changes to U.S. or other countries’ trade policies and tariff and import/export regulations; the Company’s ability to effectively execute on its growth strategy; and the Company’s failure to maintain and enhance its strong brand image, to compete effectively, to maintain good relationships with its key suppliers, and to improve and expand its exclusive product offerings. The Company discusses the foregoing risks and other risks in greater detail under the heading “Risk factors” in the periodic reports filed by the Company with the Securities and Exchange Commission. Although the
4
Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. Because of these factors, the Company cautions that you should not place undue reliance on any of these forward-looking statements. New risks and uncertainties arise from time to time, and it is impossible for the Company to predict those events or how they may affect the Company. Further, any forward-looking statement speaks only as of the date on which it is made. Except as required by law, the Company does not intend to update or revise the forward-looking statements in this press release after the date of this press release.
Investor Contact:
ICR, Inc.
Brendon Frey, 203-682-8216
BootBarnIR@icrinc.com
or
Company Contact:
Boot Barn Holdings, Inc.
Mark Dedovesh, 949-453-4489
Senior Vice President, Investor Relations & Financial Planning
BootBarnIRMedia@bootbarn.com
5
Boot Barn Holdings, Inc.
Consolidated Balance Sheets
(In thousands, except per share data)
(Unaudited)
March 28,
March 29,
2026
2025
Assets
Current assets:
Cash and cash equivalents
$
141,036
$
69,770
Accounts receivable, net
15,264
10,263
Inventories
844,637
747,191
Prepaid expenses and other current assets
33,462
36,736
Total current assets
1,034,399
863,960
Property and equipment, net
514,108
422,079
Right-of-use assets, net
638,425
469,461
Goodwill
197,502
197,502
Intangible assets, net
58,981
58,677
Other assets
6,660
6,342
Total assets
$
2,450,075
$
2,018,021
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable
$
142,126
$
134,450
Accrued expenses and other current liabilities
159,103
146,038
Short-term lease liabilities
89,743
72,861
Total current liabilities
390,972
353,349
Deferred taxes
51,711
39,317
Long-term lease liabilities
683,737
490,182
Other liabilities
4,999
4,116
Total liabilities
1,131,419
886,964
Stockholders’ equity:
Common stock, $0.0001 par value; March 28, 2026 - 100,000 shares authorized, 30,998 shares issued; March 29, 2025 - 100,000 shares authorized, 30,892 shares issued
3
3
Preferred stock, $0.0001 par value; 10,000 shares authorized, no shares issued or outstanding
—
—
Additional paid-in capital
263,253
246,725
Retained earnings
1,129,848
903,968
Less: Common stock held in treasury, at cost, 614 and 298 shares at March 28, 2026 and March 29, 2025, respectively
(74,448)
(19,639)
Total stockholders’ equity
1,318,656
1,131,057
Total liabilities and stockholders’ equity
$
2,450,075
$
2,018,021
6
Boot Barn Holdings, Inc.
Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
Thirteen Weeks Ended
Thirteen Weeks Ended
Fifty-Two Weeks Ended
Fifty-Two Weeks Ended
March 28,
March 29,
March 28,
March 29,
2026
2025
2026
2025
Net sales
$
538,753
$
453,749
$
2,253,859
$
1,911,104
Cost of goods sold
343,008
285,187
1,395,504
1,194,066
Gross profit
195,745
168,562
858,355
717,038
Selling, general and administrative expenses
138,524
118,875
559,210
477,686
Income from operations
57,221
49,687
299,145
239,352
Interest expense
346
346
1,527
1,497
Other income, net
749
607
2,971
2,262
Income before income taxes
57,624
49,948
300,589
240,117
Income tax expense
13,184
12,409
74,709
59,175
Net income
$
44,440
$
37,539
$
225,880
$
180,942
Earnings per share:
Basic
$
1.46
$
1.23
$
7.40
$
5.93
Diluted
$
1.45
$
1.22
$
7.35
$
5.88
Weighted average shares outstanding:
Basic
30,414
30,593
30,505
30,524
Diluted
30,716
30,771
30,735
30,773
7
Boot Barn Holdings, Inc.
Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Fiscal Year Ended
March 28,
March 29,
March 30,
2026
2025
2024
Cash flows from operating activities
Net income
$
225,880
$
180,942
$
146,996
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
78,654
62,462
49,531
Stock-based compensation
16,103
10,978
12,935
Amortization of intangible assets
—
20
54
Impairment of intangible assets
—
—
2,000
Noncash lease expense
80,781
66,994
55,148
Amortization and write-off of debt issuance fees
108
108
108
Loss on disposal of property and equipment
492
299
660
Deferred taxes
12,394
(2,716)
8,773
Changes in operating assets and liabilities:
Accounts receivable, net
(4,866)
(240)
3,282
Inventories
(97,446)
(148,071)
(9,626)
Prepaid expenses and other current assets
3,166
7,664
3,515
Other assets
(318)
(766)
613
Accounts payable
8,159
210
425
Accrued expenses and other current liabilities
19,408
17,989
(6,208)
Other liabilities
883
311
1,057
Operating leases
(38,495)
(48,644)
(33,183)
Net cash provided by operating activities
$
304,903
$
147,540
$
236,080
Cash flows from investing activities
Purchases of property and equipment
$
(178,561)
$
(148,293)
$
(118,782)
Proceeds from sale of property and equipment
60
55
—
Net cash used in investing activities
$
(178,805)
$
(148,238)
$
(118,782)
Cash flows from financing activities
Payments on line of credit - net
$
—
$
—
$
(66,043)
Repayments on debt and finance lease obligations
(948)
(873)
(863)
Repurchases of common stock
(50,006)
—
—
Tax withholding payments for net share settlement
(4,303)
(7,617)
(2,475)
Proceeds from the exercise of stock options
425
3,111
9,737
Net cash used in financing activities
$
(54,832)
$
(5,379)
$
(59,644)
Net increase/(decrease) in cash and cash equivalents
71,266
(6,077)
57,654
Cash and cash equivalents, beginning of period
69,770
75,847
18,193
Cash and cash equivalents, end of period
$
141,036
$
69,770
$
75,847
Supplemental disclosures of cash flow information:
Cash paid for income taxes, net of refunds
$
62,034
$
59,929
$
57,157
Cash paid for interest
$
1,400
$
1,381
$
2,385
Supplemental disclosure of non-cash activities:
Unpaid purchases of property and equipment
$
20,551
$
29,584
$
17,269
8
Boot Barn Holdings, Inc.
Store Count
Quarter Ended
Quarter Ended
Quarter Ended
Quarter Ended
Quarter Ended
Quarter Ended
Quarter Ended
Quarter Ended
March 28,
December 27,
September 27,
June 28,
March 29,
December 28,
September 28,
June 29,
2026
2025
2025
2025
2025
2024
2024
2024
Store Count (BOP)
514
489
473
459
438
425
411
400
Opened/Acquired
25
25
16
14
21
13
15
11
Closed
—
—
—
—
—
—
(1)
—
Store Count (EOP)
539
514
489
473
459
438
425
411
Boot Barn Holdings, Inc.
Selected Store Data
Thirteen Weeks Ended
March 28,
December 27,
September 27,
June 28,
March 29,
December 28,
September 28,
June 29,
2026
2025
2025
2025
2025
2024
2024
2024
Selected Store Data:
Same Store Sales growth
6.1
%
5.7
%
8.4
%
9.4
%
6.0
%
8.6
%
4.9
%
1.4
%
Stores operating at end of period
539
514
489
473
459
438
425
411
Comparable stores open during period(1)
441
426
411
401
382
374
363
349
Total retail store selling square footage, end of period (in thousands)
6,147
5,810
5,495
5,307
5,133
4,877
4,720
4,547
Average retail store selling square footage, end of period
11,404
11,304
11,238
11,220
11,183
11,134
11,105
11,063
Average sales per comparable store (in thousands)(2)
$
934
$
1,291
$
996
$
1,031
$
926
$
1,301
$
952
$
980
(1) Comparable stores have been open at least 13 full fiscal months as of the end of the applicable reporting period.
(2) Average sales per comparable store is calculated by dividing comparable store trailing three-month sales for the applicable period by the number of comparable stores operating during the period. Included in this calculation are stores opened in recent years that have not yet reached sales maturity.
9
EX-99.2
EX-99.2
Filename: boot-20260514xex99d2.htm · Sequence: 3
Exhibit 99.2
0
Supplemental Financial Presentation
May 2026
Offering everyone a piece of the American spirit—one handshake at a time.
1
Important Information
Forward-Looking Statements
This presentation contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this presentation are forward-looking statements. Forward-looking statements refer to Boot Barn Holdings, Inc.’s (the “Company,” “Boot Barn,” “BOOT,” “we,” “us,” and “our”) current expectations and projections relating to,
by way of example and without limitation, the Company’s financial condition, liquidity, profitability, results of operations, margins, plans, objectives, strategies, future performance, business, and
industry. You can identify forward-looking statements by the fact that they generally do not relate strictly to historical or current facts. These statements may include words such as “anticipate”,
“estimate”, “expect”, “project”, “plan“, “intend”, “believe”, “may”, “might”, “will”, “could”, “should”, “can have”, “likely”, “outlook”, and other words and terms of similar meaning in connection
with any discussion of the timing or nature of future operating or financial performance or other events, but not all forward-looking statements contain these identifying words. These forward-looking statements are based on assumptions that the Company’s management has made in light of their industry experience and on their perceptions of historical trends, current conditions,
expected future developments and other factors that they believe are appropriate under the circumstances. As you consider this presentation, you should understand that these statements are
not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond the Company’s control), and assumptions. These risks, uncertainties, and assumptions
include, but are not limited to, the following: decreases in consumer spending due to declines in consumer confidence, local economic conditions, or changes in consumer preferences; the impact
that import tariffs and other trade restrictions imposed by the U.S., or other countries have had, and may continue to have, on our product costs and changes to U.S. or other countries’ trade
policies and tariff and import/export regulations; the Company’s ability to effectively execute on its growth strategy; and the Company’s failure to maintain and enhance its strong brand image, to
compete effectively, to maintain good relationships with its key suppliers, and to improve and expand its exclusive product offerings. The Company discusses the foregoing risks and other risks in
greater detail under the heading “Risk factors” in the periodic reports filed by the Company with the Securities and Exchange Commission. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company’s actual financial results and cause them to differ materially from
those anticipated in the forward-looking statements. Because of these factors, the Company cautions that you should not place undue reliance on any of these forward-looking statements. New
risks and uncertainties arise from time to time, and it is impossible for the Company to predict those events or how they may affect the Company. Further, any forward-looking statement speaks
only as of the date on which it is made. Except as required by law, the Company does not intend to update or revise the forward-looking statements in this presentation after the date of this
presentation.
Industry and Market Information
Statements in this presentation concerning our industry and the markets in which we operate, including our general expectations and competitive position, business opportunity and market size,
growth and share, are based on information from independent industry organizations and other third-party sources, data from our internal research, and management estimates. Management
estimates are derived from publicly available information and the information and data referred to above and are based on assumptions and calculations made by us based upon our
interpretation of such information and data. The information and data referred to above are imprecise and may prove to be inaccurate because the information cannot always be verified with
complete certainty due to the limitations on the availability and reliability of raw data, the voluntary nature of the data gathering process, and other limitations and uncertainties. As a result,
please be aware that the data and statistical information in this presentation may differ from information provided by our competitors or from information found in current or future studies
conducted by market research institutes, consultancy firms, or independent sources.
Recent Developments
Our business and opportunities for growth depend on consumer discretionary spending, and as such, our results are particularly sensitive to economic conditions and consumer confidence.
Inflation, changes to U.S. or other countries’ trade policies and tariff and import/export regulations, and other challenges affecting the global economy could impact our operations and will
depend on future developments, which are uncertain. These and other effects make it more challenging for us to estimate the future performance of our business, particularly over the near-to-medium term. For further discussion of the uncertainties and business risks affecting the Company, see the sections captioned “Risk factors” in our periodic reports filed with the Securities and
Exchange Commission.
2
Full Year Fiscal 2026 Highlights
Full Year FY26 FY25 FY26 Highlights
Total Net Sales
Consolidated SSS%
Store SSS%
E-commerce SSS%
Total Net Sales Growth %
New Store Openings
$2,254
7.2%
6.2%
15.3%
18%
80
$1,911
5.5%
5.0%
9.7%
15%
60
• Over $2 billion in sales.
• +18% total sales growth.
• +7.2% SSS.
• 80 new stores opened.
• 539 stores at year end.
Merchandise Margin
%
$1,147
50.9%
$957
50.1%
• +80bps merchandise margin increase.
• +220bps exclusive brands penetration increase.
• 40.8% exclusive brands penetration.
Gross Profit
%
$858
38.1%
$717
37.5%
• +60bps gross profit leverage.
SG&A
%
$559
24.8%
$478
25.0%
• +20bps SG&A leverage.
Income from Operations
%
$299
13.3%
$239
12.5%
• +$60M increase.
• +25% growth.
• +80bps leverage.
GAAP Earnings per
Diluted Share $7.35 $5.88
• +$1.47 EPS increase.
• +25% growth.
• $50M shares repurchased.
3
$2.01
$6.33
$5.62
$4.80
$5.88
$7.35
FY21 FY22 FY23 FY24 FY25 FY26
$893
$1,488 $1,658 $1,667
$1,911
$2,254
FY21 FY22 FY23 FY24 FY25 FY26
Full Year Fiscal 2026 Results
1Fiscal 2023 was a 53-week year. Management estimates the 53rd week contributed $28.3M in sales and approximately $0.16 of earnings per diluted share.
1
1
Full Year Total Sales ($M)
3.1%
53.7%
-0.1%
-6.2%
5.5% 7.2%
FY21 FY22 FY23 FY24 FY25 FY26
Full Year Consolidated SSS%
+90bps
+270bps
(70)bps
+160bps
+130bps
+80bps
FY21 FY22 FY23 FY24 FY25 FY26
Full Year Merchandise Margin % Full Year GAAP EPS
(100)bps
freight
+130bps
freight
+660bps over the last six years
18% Growth vs. LY
25% Growth vs. LY
+13% Two Year Stack
4
Q4 Fiscal 2026 Results
1Q4 Fiscal 2023 was a 14-week quarter as a result of the 53rd week in Fiscal 2023. Management estimates the 14th week of Q4 Fiscal 2023 contributed $28.3M in sales and approximately $0.16 of earnings per diluted share.
$259
$383 $426 $388
$454
$539
FY21 FY22 FY23 FY24 FY25 FY26
Q4 Total Sales ($M)
26.9%
33.3%
-5.5% -5.9%
6.0% 6.1%
FY21 FY22 FY23 FY24 FY25 FY26
Q4 Consolidated SSS%
+300bps
+120bps
(120)bps
+160bps
+210bps (30)bps
FY21 FY22 FY23 FY24 FY25 FY26
Q4 Merchandise Margin %
$0.82
$1.47 $1.53
$0.96
$1.22
$1.45
FY21 FY22 FY23 FY24 FY25 FY26
Q4 GAAP EPS
+640bps over the last six years
19% Growth vs. LY
19% Growth vs. LY
+12% Two Year Stack
(50)bps
Shrink
(20)bps
Freight
+40bps
Product
Margin
+70bps
Shrink
+110bps
Freight
+30bps
Product
Margin
1
1
5
$233
$346 $403
$569 $630 $678
$777 $846 $893
$1,488
$1,658 $1,667
$1,911
$2,254
$2,623
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 E
Total Sales ($M)
Total Sales
Growth 38% 48% 16% 41% 11% 8% 15% 9% 6% 67% 11%
Strong Sales Growth
1 1
1Fiscal 2017 and Fiscal 2023 were 53-week years.
1%
~+19% CAGR
SSS%
Growth 11.9% 6.7% 7.3% (0.1)% 0.3% 5.2% 10.0% 5.0% 3.1% 53.7% (0.1)% (6.2)%
15%
5.5%
18%
7.2%
16%
4.0%
2
2Reflects the high end of the Company’s guidance range provided on its fourth quarter earnings call held on May 14, 2026.
6
Strategic Initiatives Update
1
2
3
4
New Stores
Same Store Sales
Omni-Channel
Merchandise Margin & Exclusive Brands
7
1 New Store Economics
1Represents the Company’s guidance to open a total of 70 new stores in Fiscal 2027, as provided on its fourth quarter earnings call held on May 14, 2026.
2Represents the Company’s estimated U.S. store count potential of 1,200 stores, based on internal analysis and a third-party study, as provided on its second quarter Fiscal 2026 earnings call held on October 29, 2025.
86 117 152 169 208 219 226 240 259 273 300 345 400 459
539
609
1,200
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 E U.S. Target
Annual Store Count
1
Metrics Target
Selling Square Feet ~12,000
Year 1 Net Sales ~$3.2M
Net Capital Investment ~$0.9M
Net Inventory Investment ~$0.8M
Total Net Investment ~$1.7M
Year 1 Cash on Cash Return ~53%
Payback Period ~1.8 years
2
8
1 New Stores Sales Growth
273
539
FY21 FY26
End of Year Store Count
$893
$2,254
FY21 FY26
Consolidated Annual Sales Volume ($M)
Sales from 2671
new stores
Sales from
legacy stores &
272 online
267
1
Includes 80 stores opened in Fiscal 2026 that have not been open a full fiscal year.
Mature Stores
New stores opened in Fiscal 2022 through Fiscal 2026
9
2 New Store Sales & Occupancy
$4.6
FY26 FY25 FY24 FY23 FY22 Pre March
2021
FY26 Average Total Annual Unit Volume by Year Opened ($M)1
272 stores
Mature
Stores
27
stores
45
stores
55
stores 60
stores
80
stores
Year 1
actual
partial sales
Year 1
annual sales
projection
11% of
store count
15% of
store count
8% of
store count
10% of
store count
50% of
store count
5% of
store count
Store Mix – New/Ramping vs. Mature
FY24
55 new stores opened
32%
68%
FY25
60 new stores opened
41%
59%
FY26
80 new stores opened
50% 50%
FY27 E2
70 estimated new stores opening
55%
45%
In Fiscal 2026, new stores opened within the past five years added
approximately 150 basis points to consolidated same store sales %.
Store growth has resulted in fewer stores at sales maturity and higher
occupancy cost as a % of sales. Average occupancy cost per store is
relatively consistent across years.
Fiscal year opened
Year 1 Occupancy Impact
Non-cash straight-line rent expense
begins once we take possession of the
location, ~3 months on average before
a store opens and sales begin.
Mature average unit sales volume (stores opened before March 2021) reached $4.6M in
FY26. New stores opened within the past five years are ramping to maturity and
increasing consolidated same store sales %.
Mature Stores
New / Ramping Stores
$3.2
1Represents Fiscal 2026 average unit sales volume per store by year opened.
2Represents the Company’s guidance to open a total of 70 new stores in Fiscal 2027, as provided on its fourth
quarter earnings call held on May 14, 2026.
FY26 Average Unit Comp Store Sales Volume = $4.2M
10
2
11.9%
6.7% 7.3%
-0.1%
0.3%
5.2%
10.0%
5.0%
3.1%
53.7%
-0.1%
-6.2%
5.5%
7.2%
4.0%
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 E
Consolidated SSS%
1
1Reflects the high end of the Company’s guidance range provided on its fourth quarter earnings call held on May 14, 2026.
Annual Same Store Sales Growth
11
2
1Represents preliminary consolidated same store sales for April and the first two weeks of May Fiscal 2027.
2Thanksgiving and Black Friday shifted from November Fiscal 2024 into December Fiscal 2025.
8.7%
11.5%
8.4%
11.3%
8.7%
6.1%
8.8%
6.1% 4.2%
6.7% 7.7%
4.5%
Apr May Jun July Aug Sep Oct Nov Dec Jan Feb Mar
FY26 (Black Friday in Fiscal December)
-0.8%
2.4% 2.5%
-0.3%
6.0% 8.0% 5.5%
-1.9%
15.6%
8.1%
1.8%
7.7%
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
FY25 (Black Friday in Fiscal December)
FY24 (Black Friday in Fiscal November)
-6.9%
-3.3%
1.0%
-0.5%
-4.8%
-7.7% -9.7% -11.9%
-8.5% -7.7% -7.8%
-3.2%
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
2 2
2 2
5.0% 5.0%
Apr May
FY27 (Black Friday in Fiscal December)
1 1
Two Weeks
Consolidated SSS% by Month
12
2
1Represents preliminary retail store same store sales for April and the first two weeks of May Fiscal 2027.
2Thanksgiving and Black Friday shifted from November Fiscal 2024 into December Fiscal 2025.
9.8% 11.0%
8.0%
11.2%
7.9%
5.1% 7.1%
4.0% 1.9%
5.9% 6.9%
3.5%
Apr May Jun July Aug Sep Oct Nov Dec Jan Feb Mar
FY26 (Black Friday in Fiscal December)
-1.5%
1.9% 1.8%
-0.9%
5.3% 7.5% 4.6%
-2.4%
16.0%
7.0%
0.9%
8.0%
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
FY25 (Black Friday in Fiscal December)
FY24 (Black Friday in Fiscal November)
-5.0% -2.6%
1.5% 1.1%
-3.7%
-7.3% -8.8% -11.5% -8.5% -7.2% -8.1%
-2.8%
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
2 2
2 2
3.8% 5.0%
Apr May
FY27 (Black Friday in Fiscal December)
1 1
Two Weeks
Store SSS% by Month
13
2
-0.4%
15.8% 12.3% 12.5% 16.1% 14.3%
24.0% 23.6%
17.1% 12.9% 15.0% 14.5%
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
FY26 (Black Friday in Fiscal December)
5.0% 6.0% 8.7% 5.0%
12.1% 12.2% 13.7%
2.2%
13.5% 17.1%
9.0% 5.1%
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
FY25 (Black Friday in Fiscal December)
FY24 (Black Friday in Fiscal November)
-19.1%
-9.0% -3.5%
-11.9% -13.0% -10.6%
-16.8% -15.1%
-8.4% -11.3% -5.9% -6.0%
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
1Represents preliminary e-commerce same store sales for April and the first two weeks of May Fiscal 2027.
2Thanksgiving and Black Friday shifted from November Fiscal 2024 into December Fiscal 2025.
2 2
2 2
18.3%
5.1%
Apr May
FY27 (Black Friday in Fiscal December)
1 1
Two Weeks
E-commerce SSS% by Month
14
2 Stagecoach Sponsorship & On-Site Events
15
3
Drive Store Traffic
• Bring Long Tail to Stores
• Ship to Store / BOPIS
• Return in Store
Deliver Digital Experience in
Stores
• Mobile App
• Range Finder (AI-enabled)
• WHIP (endless aisle)
• Cassidy (piloting in-store
consumer AI solution)
Fulfill Online Demand
Efficiently
• DC Fulfillment
• Store Fulfillment
• Same Day Delivery
Drive Online Profitability
• Boot Barn retail price
consistent across channels
• Infrequent promotions
• Profitable ROAS standard
• Maximize clearance margin
Omni-Channel Capabilities
16
4
1Reflects the high end of the Company’s guidance range provided on its fourth quarter earnings call held on May 14, 2026.
+190bps
+170bps
(270)bps Flat
+50bps
+110bps
+90bps
+90bps
+270bps
(70)bps
+160bps
+130bps
+80bps
+50bps
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 E
Merchandise Margin %
1
Merchandise Margin Growth
Exclusive Brands (EB) is Only 1/3 of Margin Appreciation
over the last six fiscal years
Margin Drivers
• Better full-price selling
• Buying economies of scale
• Supply chain efficiencies
• Volume discounts
• Exclusive brands sales penetration
EB
Expansion
190bps
Other Margin Drivers
470bps
17
4
1Reflects the high end of the Company’s guidance range provided on its fourth quarter earnings call held on May 14, 2026.
+200bps
+270bps
+140bps +(40)bps
+280bps
+270bps
+580bps
+170bps
+460bps
+570bps
+370bps +90bps
+220bps +50bps
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 E
Exclusive Brands Penetration %
Sales
Pen% 5.0% 7.0% 9.7% 11.1% 10.7% 13.5% 16.2% 22.0% 23.7% 28.3% 34.0% 37.7% 38.6% 40.8% 41.3%
Long Term
Target
Margin enhancement ~1,000bps vs. 3rd party brands
Exclusive brands growth accounts for ~1/3 of margin appreciation
1
Exclusive Brands Growth
50.0%
50.0%
18
4 Best in Class Exclusive Brands
19
4 Exclusive Brands Marketing & Websites
20
FY27 Guidance
21
Full Year Fiscal 2027 Financial Guidance
Full Year FY27
Financial Guidance
Low-End
($M)
High-End
($M)
High-End Guidance
Comments vs. LY
Total Net Sales
Consolidated SSS%
Store SSS%
E-commerce SSS%
Total Net Sales Growth %
New Store Openings
$2,578
2.0%
1.0%
11.0%
14%
70
$2,623
4.0%
3.0%
13.0%
16%
70 Originally 80 openings planned, but we accelerated 10 stores scheduled to open
in Fiscal 2027 into Q4 Fiscal 2026.
Merchandise Margin
%
$1,326
51.4%
$1,349
51.4%
• +50bps merchandise margin increase.
• Buying economies of scale.
• Moderated promotional activity.
• +10bps freight improvement.
• +50bps exclusive brands penetration increase.
Gross Profit
%
$971
37.7%
$994
37.9%
• (20)bps gross profit deleverage.
SG&A
%
$636
24.7%
$641
24.4%
• +40bps SG&A leverage.
• Marketing ~3% of sales.
Income from Operations
%
$335
13.0%
$353
13.5%
• +20bps leverage.
GAAP Earnings per
Diluted Share $8.21 $8.64
• +18% EPS growth compared to the prior year.
• 25.7% tax rate.
• $130M net capital expenditures.
1
1Merchandise cost of goods sold includes the cost of merchandise, inbound and outbound freight, obsolescence and shrinkage provisions, supplier allowances, and inventory acquisition-related costs.
22
$4.80
$5.88
$7.35
$8.64
FY24 FY25 FY26 FY27 E
$1,667
$1,911
$2,254
$2,623
FY24 FY25 FY26 FY27 E
Full Year Fiscal 2027 Guidance
Total Sales ($M)
-6.2%
5.5%
7.2%
4.0%
FY24 FY25 FY26 FY27 E
Consolidated SSS%
+160bps
+130bps
+80bps
+50bps
FY24 FY25 FY26 FY27 E
Merchandise Margin %
GAAP EPS
16% Growth vs. LY +420bps over the last four years
18% Growth vs. LY
+11% Two Year Stack
$198
$239
$299
$353
FY24 FY25 FY26 FY27 E
Income from Operations ($M)
18% Growth vs. LY
11.9% 12.5% 13.3% 13.5%
15.0%
FY24 FY25 FY26 FY27 E Target
Income from Operations %
+20 bps Increase vs. LY
Margin Drivers
• Merchandise margin expansion
• Occupancy deleverage due to new store growth
• SG&A leverage
1Reflects the high end of the Company’s guidance range provided on its fourth quarter earnings call held on May 14, 2026.
1
1
1
1
1 1
23
Q1 Fiscal 2027 Financial Guidance
Q1 FY27
Financial Guidance
Low-End
($M)
High-End
($M)
Total Net Sales
Consolidated SSS%
Store SSS%
E-commerce SSS%
Total Net Sales Growth %
$574
2.0%
1.0%
12.0%
14%
$584
4.0%
3.0%
14.0%
16%
Merchandise Margin
%
$295
51.5%
$300
51.5%
Gross Profit
%
$213
37.1%
$218
37.3%
SG&A
%
$147
25.7%
$149
25.5%
Income from Operations
%
$65
11.4%
$69
11.9%
GAAP Earnings per
Diluted Share $1.62 $1.71
1
1Merchandise cost of goods sold includes the cost of merchandise, inbound and outbound freight, obsolescence and shrinkage provisions, supplier allowances, and inventory acquisition-related costs.
Q1 FY26
($M)
High-End
Δ ($M)
High-End Guidance
Comments vs. LY
$504
9.4%
9.5%
9.3%
19%
$80
$262
52.1%
$38
(60)bps
• +180bps of merchandise margin growth in the prior-year period.
• (60)bps decrease compared to the prior-year period consists of:
• +10bps product margin. Q1 FY26 product margin +100bps vs.
Q1 FY25.
• (70)bps freight. Q1 FY26 freight +70bps vs. Q1 FY25. Q1
guidance assumes the current run rate for freight, which is
higher than Q1 FY26, but in line with Q4 FY26.
$197
39.1%
$21
(180)bps
• 25 new stores planned to open in Q1 FY27.
• 14 new stores opened in Q1 FY26.
• We expect to have opened 91 new stores in the trailing twelve
months at the end of Q1 FY27.
$127
25.1%
$22
(40)bps
• Marketing timing between quarters, including new Stagecoach
festival sponsorship in April.
• Higher grand opening expenses related to new store growth.
• Pre-opening store labor related to new store growth.
$71
14.0%
$(2)
(210)bps
$1.74 $(0.03)
+120bps
over two years
We expect our Q1 Fiscal 2027 earnings to come in softer year over year, primarily due to an extremely strong Q1 in the prior year that creates a difficult
comparison. Looking ahead, Q2 Fiscal 2027 earnings are expected to be in line with Q1 Fiscal 2027, resulting in strong year-over-year growth given last year’s
Q2 was comparatively smaller than Q1 versus typical historical cadence.
24
investor.bootbarn.com
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d1001.jpg · Sequence: 4
Binary file (8771 bytes)
Download boot-20260514xex99d1001.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g001.jpg · Sequence: 5
Binary file (197213 bytes)
Download boot-20260514xex99d2g001.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g002.jpg · Sequence: 6
Binary file (326406 bytes)
Download boot-20260514xex99d2g002.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g003.jpg · Sequence: 7
Binary file (131196 bytes)
Download boot-20260514xex99d2g003.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g004.jpg · Sequence: 8
Binary file (128430 bytes)
Download boot-20260514xex99d2g004.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g005.jpg · Sequence: 9
Binary file (117597 bytes)
Download boot-20260514xex99d2g005.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g006.jpg · Sequence: 10
Binary file (104336 bytes)
Download boot-20260514xex99d2g006.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g007.jpg · Sequence: 11
Binary file (77301 bytes)
Download boot-20260514xex99d2g007.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g008.jpg · Sequence: 12
Binary file (123429 bytes)
Download boot-20260514xex99d2g008.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g009.jpg · Sequence: 13
Binary file (77129 bytes)
Download boot-20260514xex99d2g009.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g010.jpg · Sequence: 14
Binary file (178339 bytes)
Download boot-20260514xex99d2g010.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g011.jpg · Sequence: 15
Binary file (93536 bytes)
Download boot-20260514xex99d2g011.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g012.jpg · Sequence: 16
Binary file (130260 bytes)
Download boot-20260514xex99d2g012.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g013.jpg · Sequence: 17
Binary file (130042 bytes)
Download boot-20260514xex99d2g013.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g014.jpg · Sequence: 18
Binary file (129237 bytes)
Download boot-20260514xex99d2g014.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g015.jpg · Sequence: 19
Binary file (269610 bytes)
Download boot-20260514xex99d2g015.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g016.jpg · Sequence: 20
Binary file (167059 bytes)
Download boot-20260514xex99d2g016.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g017.jpg · Sequence: 21
Binary file (101241 bytes)
Download boot-20260514xex99d2g017.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g018.jpg · Sequence: 22
Binary file (118780 bytes)
Download boot-20260514xex99d2g018.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g019.jpg · Sequence: 23
Binary file (174539 bytes)
Download boot-20260514xex99d2g019.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g020.jpg · Sequence: 24
Binary file (154573 bytes)
Download boot-20260514xex99d2g020.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g021.jpg · Sequence: 25
Binary file (202249 bytes)
Download boot-20260514xex99d2g021.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g022.jpg · Sequence: 26
Binary file (150604 bytes)
Download boot-20260514xex99d2g022.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g023.jpg · Sequence: 27
Binary file (132467 bytes)
Download boot-20260514xex99d2g023.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g024.jpg · Sequence: 28
Binary file (208075 bytes)
Download boot-20260514xex99d2g024.jpg
GRAPHIC
GRAPHIC
Filename: boot-20260514xex99d2g025.jpg · Sequence: 29
Binary file (113268 bytes)
Download boot-20260514xex99d2g025.jpg
XML — IDEA: XBRL DOCUMENT
XML
Filename: R1.htm · Sequence: 34
v3.26.1
Document and Entity Information
May 14, 2026
Document and Entity Information
Document Type
8-K
Document Period End Date
May 14, 2026
Entity File Number
001-36711
Entity Registrant Name
Boot Barn Holdings, Inc.
Entity Incorporation, State or Country Code
DE
Entity Tax Identification Number
90-0776290
Entity Address, Address Line One
17100 Laguna Canyon Road
Entity Address, City or Town
Irvine
Entity Address, State or Province
CA
Entity Address, Postal Zip Code
92618
City Area Code
949
Local Phone Number
453-4400
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Title of 12(b) Security
Common Stock, $0.0001 par value
Trading Symbol
BOOT
Security Exchange Name
NYSE
Entity Emerging Growth Company
false
Entity Central Index Key
0001610250
Amendment Flag
false
X
- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details
Name:
dei_AmendmentFlag
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Area code of city
+ References
No definition available.
+ Details
Name:
dei_CityAreaCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Cover page.
+ References
No definition available.
+ Details
Name:
dei_CoverAbstract
Namespace Prefix:
dei_
Data Type:
xbrli:stringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
dei_
Data Type:
dei:stateOrProvinceItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration