Boot Barn Holdings, Inc. Announces First Quarter Fiscal Year 2027 Financial Results

Boot Barn Holdings, Inc. Announces First Quarter Fiscal Year 2027 Financial Results IRVINE, Calif.--( BUSINESS WIRE)--Boot Barn Holdings, Inc. (NYSE: BOOT) (the “Company,” “we,” “us,” and “our”) today announced its financial results for the first fiscal quarter ended June 27, 2026. A Supplemental Financial Presentation is available at investor.bootbarn.com.

For the quarter ended June 27, 2026 compared to the quarter ended June 28, 2025:

John Hazen, Chief Executive Officer, commented, “We are pleased with our strong start to fiscal 2027, as first quarter results exceeded our expectations and reflected broad-based strength across the business. Our team continues to execute at a high level, delivering solid same store sales growth, expanding margin, and opening new stores that continue to perform above our expectations.”

Mr. Hazen continued, “Exiting our first quarter, fiscal July sales moderated given the more challenging year-over-year comparisons. While July's sales came in slightly below our expectations, we believe the shortfall primarily reflected the impact of seasonal events and concerts on our business during a lower-volume month. We remain confident in our outlook for the balance of the fiscal year and believe our four strategic initiatives continue to strengthen our competitive position and support long-term profitable growth.”

Operating Results for the First Quarter Ended June 27, 2026 Compared to the First Quarter Ended June 28, 2025

Sales by Channel

The following table includes total net sales growth and same store sales (“SSS”) growth/(decline) for the periods indicated below.

Thirteen Weeks

Ended

June 27, 2026

Four Weeks

Fiscal April

Four Weeks

Fiscal May

Five Weeks

Fiscal June

Preliminary

Four Weeks

Ended

July 25, 2026

Total Net Sales Growth

17.7

17.2

16.1

19.5

Retail Stores SSS

3.8

3.1

4.4

(1.2)

E-commerce SSS

13.4

18.3

6.1

15.9

10.7

Consolidated SSS

4.7

5.0

3.4

5.4

(0.0)

Tariff Refunds

The following table reflects the impact of tariff refunds for the first quarter ended June 27, 2026 and the estimated impact for the remainder of fiscal 2027.

(in millions, except per share data)

First Quarter

Ended

June 27, 2026

Second Quarter

Ending

September 26, 2026

Third Quarter

Ending

December 26, 2026

Fourth Quarter

Ending

March 27, 2027

Fiscal Year

Ending

March 27, 2027

Cost of goods sold

14.7

2.4

0.7

—

17.8

Interest income

0.5

—

0.5

Diluted EPS impact

0.38

0.06

0.02

—

0.46

Balance Sheet Highlights as of June 27, 2026

Fiscal Year 2027 Outlook

The Company is providing updated guidance for the fiscal year ending March 27, 2027, which supersedes in its entirety the previous guidance issued in its fourth fiscal quarter and fiscal year 2026 earnings report on May 14, 2026. For the fiscal year ending March 27, 2027, the Company now expects:

For the second fiscal quarter ending September 26, 2026, the Company expects:

Conference Call Information

A conference call to discuss the financial results for the first fiscal quarter ended June 27, 2026, is scheduled for today, July 29, 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 August 29, 2026, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 10210645. 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 571 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 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.

Boot Barn Holdings, Inc.

Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)

June 27,

March 28,

2026

Assets

Current assets:

Cash and cash equivalents

139,262

141,036

Accounts receivable, net

29,387

15,264

Inventories

900,040

844,637

Prepaid expenses and other current assets

25,174

33,462

Total current assets

1,093,863

1,034,399

Property and equipment, net

542,618

514,108

Right-of-use assets, net

667,251

638,425

Goodwill

197,502

Intangible assets, net

58,981

Other assets

8,756

6,660

Total assets

2,568,971

2,450,075

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable

176,477

142,126

Accrued expenses and other current liabilities

167,294

159,103

Short-term lease liabilities

88,557

89,743

Total current liabilities

432,328

390,972

Deferred taxes

53,964

51,711

Long-term lease liabilities

717,492

683,737

Other liabilities

6,437

4,999

Total liabilities

1,210,221

1,131,419

Stockholders’ equity:

Common stock, $0.0001 par value; June 27, 2026 - 100,000 shares authorized, 31,171 shares issued; March 28, 2026 - 100,000 shares authorized, 30,998 shares issued

Preferred stock, $0.0001 par value; 10,000 shares authorized, no shares issued or outstanding

—

Additional paid-in capital

267,957

263,253

Retained earnings

1,199,960

1,129,848

Less: Common stock held in treasury, at cost, 839 and 614 shares at June 27, 2026 and March 28, 2026, respectively

(109,170

)

(74,448

)

Total stockholders’ equity

1,358,750

1,318,656

Total liabilities and stockholders’ equity

2,568,971

2,450,075

Boot Barn Holdings, Inc.

Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)

Thirteen Weeks Ended

June 27,

June 28,

2026

2025

Net sales

593,515

504,067

Cost of goods sold

353,623

306,846

Gross profit

239,892

197,221

Selling, general and administrative expenses

149,366

126,501

Income from operations

90,526

70,720

Interest expense

347

343

Other income, net

2,226

911

Income before income taxes

92,405

71,288

Income tax expense

22,293

17,880

Net income

70,112

53,408

Earnings per share:

Basic

2.31

1.75

Diluted

2.29

1.74

Weighted average shares outstanding:

Basic

30,361

30,596

Diluted

30,601

30,750

Boot Barn Holdings, Inc.

Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Thirteen Weeks Ended

June 27,

June 28,

2026

2025

Cash flows from operating activities

Net income

70,112

53,408

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

22,254

17,518

Stock-based compensation

4,512

3,676

Noncash lease expense

22,302

17,926

Amortization of debt issuance fees

Loss on disposal of assets

752

299

Deferred taxes

2,253

(733

)

Changes in operating assets and liabilities:

Accounts receivable, net

(14,064

)

1,751

Inventories

(55,403

)

(26,869

)

Prepaid expenses and other current assets

8,261

5,874

Other assets

(2,096

)

(396

)

Accounts payable

36,346

10,144

Accrued expenses and other current liabilities

5,519

(3,618

)

Other liabilities

1,438

766

Operating leases

(18,370

)

(5,923

)

Net cash provided by operating activities

83,843

73,850

Cash flows from investing activities

Purchases of property and equipment

(51,089

)

(31,462

)

Net cash used in investing activities

(51,089

)

(31,462

)

Cash flows from financing activities

Repayments on finance lease obligations

(248

)

(229

)

Repurchases of common stock

(25,003

)

(12,502

)

Tax withholding payments for net share settlement

(9,469

)

(4,195

)

Proceeds from the exercise of stock options

192

Net cash used in financing activities

(34,528

)

(16,839

)

Net increase in cash and cash equivalents

(1,774

)

25,549

Cash and cash equivalents, beginning of period

141,036

69,770

Cash and cash equivalents, end of period

139,262

95,319

Supplemental disclosures of cash flow information:

Cash paid for income taxes

909

592

Cash paid for interest

316

312

Supplemental disclosure of non-cash activities:

Unpaid purchases of property and equipment

18,706

17,973

Boot Barn Holdings, Inc.

Store Count

Quarter Ended

June 27,

March 28,

December 27,

September 27,

June 28,

March 29,

December 28,

September 28,

2026

2025

2024

Store Count (BOP)

539

514

489

473

459

438

425

411

Opened/Acquired

Closed

—

)

Store Count (EOP)

566

539

514

489

473

459

438

425

Boot Barn Holdings, Inc.

Selected Store Data

Thirteen Weeks Ended

June 27,

March 28,

December 27,

September 27,

June 28,

March 29,

December 28,

September 28,

2026

2025

2024

Selected Store Data:

Same Store Sales growth

4.7

6.1

5.7

8.4

9.4

6.0

8.6

4.9

Stores operating at end of period

566

539

514

489

473

459

438

425

Comparable stores open during period (1)

463

441

426

411

401

382

374

363

Total retail store selling square footage, end of period (in thousands)

6,460

6,147

5,810

5,495

5,307

5,133

4,877

4,720

Average retail store selling square footage, end of period

11,414

11,404

11,304

11,238

11,220

11,183

11,134

11,105

Average sales per comparable store (in thousands) (2)

1,046

934

1,291

996

1,031

926

1,301

952

(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.