Boot Barn Q2 FY2027: sales up 15%, but same-store growth slows to 1.4%

TCF POST Oct 29, 2026 2 min read

TCF POST Report

IRVINE, Calif., Oct. 28, 2026. Boot Barn Holdings (NYSE: BOOT) reported second-quarter sales of $581.8 million, up 15.1%, with diluted EPS up 26.3% to $1.73. Growth came mainly from new stores. Same-store sales rose just 1.4%, down from 4.7% in the prior quarter and 8.4% a year earlier. Part of the profit gain came from lower freight costs and tariff refunds, which added about $0.05 per share. Excluding refunds, EPS rose 22.6%. CEO John Hazen said new stores are beating projections and pointed to a bigger national marketing campaign for the holiday season. The board also added $400 million to the buyback program, leaving about $468 million available.

The company raised its full-year outlook but guided cautiously for the holiday quarter. It expects Q3 same-store sales between a 1% decline and 1% growth, and its latest four-week trend (to Oct. 24) showed same-store sales up only 0.4%.

Top numbers (Q2, quarter ended Sept. 26, 2026)

Net sales: $581.8M (+15.1%)
Gross profit: $216.5M, 37.2% of sales (up from 36.4%)
Merchandise margin: +190 bps (130 bps from lower freight, 40 bps from tariff refunds, 20 bps from product margin)
Operating income: $70.2M, 12.1% of sales (up from 11.2%)
Net income: $52.5M; diluted EPS $1.73 (+26.3%)
First half: sales $1.175B (+16.4%), EPS $4.02 (vs. $3.11)
Balance sheet: cash $97M, no revolver borrowings, inventory $975M (average per store up about 3.4% on a same-store basis)
Boot Barn operates 594 stores in 49 states and opened 19 and closed 1 in the quarter. The company plans 75-80 openings this fiscal year. The company's average sales per comparable store is $957K

Outlook