US' Boot Barn Q1 sales jump 19.1%, full-year forecast raised

Same-store sales are projected to range from a decline of 0.5 per cent to growth of 3.5 per cent, with retail store same-store sales expected between negative 1 per cent and growth of 3 per cent, while e-commerce same-store sales are forecast to grow by 3.5 to 8.5 per cent.

Merchandise margin is anticipated to be between $1.048 billion and $1.096 billion, or 49.9 to 50.3 per cent of total sales. Gross profit is estimated at $764 million to $812 million, representing 36.4 to 37.2 per cent of sales. Selling, general and administrative expenses are projected to be in the range of $525 million to $535 million, or 25 to 24.5 per cent of sales, Boot Barn said in a press release.

Income from operations is expected to range between $239 million and $277 million, or 11.4 to 12.7 per cent of sales, while net income is forecast at $178 million to $205.8 million, or $5.8 to $6.7 per diluted share, based on 30.7 million diluted shares.

The company anticipates an effective tax rate of 26 per cent for the remaining nine months and plans capital expenditures between $115 million and $120 million, net of tenant allowances.

For the second quarter (Q2) of FY26 ending September 27, 2025, Boot Barn expects total sales of $487 million to $495 million, a 14 to 16 per cent increase over the prior-year period. Same-store sales growth is projected between 4.5 to 6.5 per cent, with retail store same-store sales expected to rise 4 to 6 per cent and e-commerce same-store sales to grow by 8 to 10 per cent.

Merchandise margin is expected to range from $245 million to $249 million, or approximately 50.3 per cent of sales, while gross profit is forecast between $174 million and $178 million, or 35.7 to 36.0 per cent of sales. Selling, general and administrative expenses are projected at $124 million to $125 million, or 25.5 to 25.3 per cent of sales. Income from operations is expected to be between $50 million and $53 million, or 10.3 to 10.7 per cent of sales, with net income per diluted share forecast in the range of $1.19 to $1.27.

Meanwhile, the company reported a robust performance for Q1 FY26 ended June 28, 2025, with net sales surging 19.1 per cent year-over-year (YoY) to $504.1 million. Same-store sales rose 9.4 per cent, including a 9.5 per cent increase at retail stores and 9.3 per cent in e-commerce.

The company posted net income of $53.4 million, or $1.74 per diluted share, compared to $38.9 million, or $1.26 per diluted share, a year earlier.

The gross profit improved by 210 basis points to 39.1 per cent of net sales, supported by enhanced merchandise margins and operational efficiencies. Selling, general and administrative expenses fell slightly to 25.1 per cent of net sales, despite increased store count and marketing costs.

Boot Barn opened 14 new stores during the quarter, bringing its total to 473, added the release.

“We are pleased with our strong start to fiscal 2026, highlighted by high-single digit consolidated same-store sales growth and successful new store openings, which drove 19 per cent overall revenue growth,” said John Hazen, chief executive officer (CEO) at Boot Barn Holdings. “Demand was broad-based, with strength across all major merchandise categories and geographies. At the same time, we improved gross profit 210 basis points, led by robust merchandise margin expansion which, along with solid expense control, fuelled a 38 per cent increase in earnings per diluted share.”

“As a result of our better than expected first quarter performance and the continued strength we have seen as we moved into our second quarter, we are raising our full-year outlook while maintaining our prior guidance for the second half of the year,” added Hazen. “With our four strategic initiatives delivering consistent results and the opportunity we have to double our store count, we remain confident in our ability to continue generating value for our shareholders over the long term.”

ALCHEMPro News Desk (SG)