Boot Barn Holdings, Inc. Announces Second Quarter Fiscal Year 2027 Financial Results and Authorizes an Additional $400 Million Under Its Share Repurchase Program

Boot Barn Holdings, Inc. Announces Second Quarter Fiscal Year 2027 Financial Results and Authorizes an Additional $400 Million Under Its Share Repurchase Program IRVINE, Calif.--( BUSINESS WIRE)--Boot Barn Holdings, Inc. (NYSE: BOOT) (the “Company,” “Boot Barn,” “we,” “us,” and “our”) today announced its financial results for the second fiscal quarter ended September 26, 2026. A Supplemental Financial Presentation is available at investor.bootbarn.com.

For the quarter ended September 26, 2026 compared to the quarter ended September 27, 2025:

John Hazen, Chief Executive Officer, commented, “We are pleased with our second quarter results, as continued revenue growth and merchandise margin expansion contributed to a 26% increase in earnings per diluted share. Our new stores continue to exceed expectations, with recent openings generating sales above our original projections. This performance reflects the growing national reach of the Boot Barn brand and reinforces our confidence in the company's long-term expansion opportunity.”

Mr. Hazen continued, “Looking ahead, we are excited about the holiday season and the work our teams have done to prepare, including refreshed merchandise assortments, improved in-store presentations, and a significantly expanded national marketing campaign. Together with the continued momentum in our work business and the relaunch of Boot Barn Workforce, these initiatives provide additional opportunities to drive sales and support our long-term growth.”

Share Repurchase Program

Under its $200 million share repurchase program (the “Repurchase Program”), the Company repurchased 240,937 and 399,388 shares of its common stock for an aggregate purchase price of $35 million and $60 million during the thirteen and twenty-six weeks ended September 26, 2026, respectively.

On October 21, 2026, the Company’s Board of Directors authorized the Company to repurchase an additional $400 million of shares of its common stock under the Company’s existing repurchase program. Following this increase, approximately $468 million remained available for future share repurchases under the current repurchase program. Except with respect to the increase in the authorized share repurchase amount, the repurchase program otherwise remains unchanged.

Operating Results for the Second Quarter Ended September 26, 2026 Compared to the Second Quarter Ended September 27, 2025

Operating Results for the Six Months Ended September 26, 2026 Compared to the Six Months Ended September 27, 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

September 26, 2026

Four Weeks

Fiscal July

Four Weeks

Fiscal August

Five Weeks

Fiscal September

Preliminary

Four Weeks

Ended

October 24, 2026

Total Net Sales Growth

15.1

13.4

16.3

15.5

13.9

Retail Stores SSS

1.0

(1.2)

1.8

1.9

0.5

E-commerce SSS

5.2

9.8

4.8

2.5

(0.9)

Consolidated SSS

1.4

(0.3)

2.1

2.0

0.4

Tariff Refunds

The following table reflects the impact of tariff refunds for the first half of fiscal 2027 and the estimated impact for the remainder of fiscal 2027.

(in millions, except per share data)

First Quarter

Ended

June 27, 2026

Second Quarter

Ended

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

2.2

0.7

—

17.6

Interest income

0.5

—

0.5

Diluted EPS impact

0.38

0.05

0.02

—

0.45

Balance Sheet Highlights as of September 26, 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 first fiscal quarter earnings report on July 29, 2026. For the fiscal year ending March 27, 2027, the Company now expects:

For the third fiscal quarter ending December 26, 2026, the Company expects:

Conference Call Information

A conference call to discuss the financial results for the second fiscal quarter ended September 26, 2026, is scheduled for today, October 28, 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 (833) 890-4545. 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 November 28, 2026, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 10212968. 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 594 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)

September 26,

March 28,

2026

Assets

Current assets:

Cash and cash equivalents

97,416

141,036

Accounts receivable, net

11,656

15,264

Inventories

975,272

844,637

Prepaid expenses and other current assets

40,046

33,462

Total current assets

1,124,390

1,034,399

Property and equipment, net

566,838

514,108

Right-of-use assets, net

703,782

638,425

Goodwill

197,502

Intangible assets, net

58,981

Other assets

8,771

6,660

Total assets

2,660,264

2,450,075

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable

189,215

142,126

Accrued expenses and other current liabilities

172,298

159,103

Short-term lease liabilities

99,204

89,743

Total current liabilities

460,717

390,972

Deferred taxes

53,155

51,711

Long-term lease liabilities

759,102

683,737

Other liabilities

6,436

4,999

Total liabilities

1,279,410

1,131,419

Stockholders’ equity:

Common stock, $0.0001 par value; September 26, 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

272,918

263,253

Retained earnings

1,252,455

1,129,848

Less: Common stock held in treasury, at cost, 1,080 and 614 shares at September 26, 2026 and March 28, 2026, respectively

(144,522

)

(74,448

)

Total stockholders’ equity

1,380,854

1,318,656

Total liabilities and stockholders’ equity

2,660,264

2,450,075

Boot Barn Holdings, Inc.

Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)

Thirteen Weeks Ended

Twenty-Six Weeks Ended

September 26,

September 27,

September 26,

September 27,

2026

2025

2026

2025

Net sales

581,809

505,396

1,175,324

1,009,463

Cost of goods sold

365,317

321,247

718,940

628,093

Gross profit

216,492

184,149

456,384

381,370

Selling, general and administrative expenses

146,244

127,726

295,610

254,227

Income from operations

70,248

56,423

160,774

127,143

Interest expense

509

403

856

746

Other income, net

983

906

3,209

1,817

Income before income taxes

70,722

56,926

163,127

128,214

Income tax expense

18,227

14,704

40,520

32,584

Net income

52,495

42,222

122,607

95,630

Earnings per share:

Basic

1.74

1.38

4.05

3.13

Diluted

1.73

1.37

4.02

3.11

Weighted average shares outstanding:

Basic

30,239

30,540

30,300

30,568

Diluted

30,412

30,750

30,506

30,780

Boot Barn Holdings, Inc.

Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Twenty-Six Weeks Ended

September 26,

September 27,

2026

2025

Cash flows from operating activities

Net income

122,607

95,630

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

Depreciation

46,335

36,972

Stock-based compensation

9,473

7,979

Noncash lease expense

45,692

36,269

Amortization of debt issuance fees

Loss on disposal of assets

1,254

354

Deferred taxes

1,444

3,262

Changes in operating assets and liabilities:

Accounts receivable, net

3,668

165

Inventories

(130,635

)

(107,909

)

Prepaid expenses and other current assets

(6,384

)

(663

)

Other assets

(2,111

)

(543

)

Accounts payable

48,051

40,994

Accrued expenses and other current liabilities

8,610

6,985

Other liabilities

1,437

1,072

Operating leases

(25,784

)

(21,036

)

Net cash provided by operating activities

123,739

99,585

Cash flows from investing activities

Purchases of property and equipment

(97,707

)

(74,692

)

Purchases of intangible assets

—

(304

)

Proceeds from sale of property and equipment

Net cash used in investing activities

(97,699

)

(74,981

)

Cash flows from financing activities

Repayments on finance lease obligations

(499

)

(460

)

Debt issuance fees paid

(282

)

—

Repurchases of common stock

(59,602

)

(25,004

)

Tax withholding payments for net share settlement

(9,469

)

(4,269

)

Proceeds from the exercise of stock options

192

Net cash used in financing activities

(69,660

)

(29,646

)

Net decrease in cash and cash equivalents

(43,620

)

(5,042

)

Cash and cash equivalents, beginning of period

141,036

69,770

Cash and cash equivalents, end of period

97,416

64,728

Supplemental disclosures of cash flow information:

Cash paid for income taxes

39,690

29,276

Cash paid for interest

661

624

Supplemental disclosure of non-cash activities:

Unpaid purchases of property and equipment

22,579

34,505

Boot Barn Holdings, Inc.

Store Count

Quarter Ended

September 26,

2026

Quarter Ended

June 27,

2026

Quarter Ended

March 28,

2026

Quarter Ended

December 27,

2025

Quarter Ended

September 27,

2025

Quarter Ended

June 28,

2025

Quarter Ended

March 29,

2025

Quarter Ended

December 28,

2024

Store Count (BOP)

566

539

514

489

473

459

438

425

Opened/Acquired

Closed

)

—

Store Count (EOP)

584

566

539

514

489

473

459

438

Boot Barn Holdings, Inc.

Selected Store Data

Thirteen Weeks Ended

September 26,

2026

June 27,

2026

March 28,

2026

December 27,

2025

September 27,

2025

June 28,

2025

March 29,

2025

December 28,

2024

Selected Store Data:

Same Store Sales growth

1.4

4.7

6.1

5.7

8.4

9.4

6.0

8.6

Stores operating at end of period

584

566

539

514

489

473

459

438

Comparable stores open during period (1)

474

463

441

426

411

401

382

374

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

6,686

6,460

6,147

5,810

5,495

5,307

5,133

4,877

Average retail store selling square footage, end of period

11,449

11,414

11,404

11,304

11,238

11,220

11,183

11,134

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

957

1,046

934

1,291

996

1,031

926

1,301

(1)

(2)