Overview
Lifestyle retailer's preliminary Q3 revenue slightly beat analyst expectations, growing 16% yr/yr
Same store sales grew 5.7%, driven by strong performance in western boots and apparel
Company opened 25 new stores, bringing total to 514
Outlook
Company sees strong sales momentum continuing into early January
Result Drivers
SAME STORE SALES GROWTH - Same store sales increased 5.7%, with e-commerce sales up 19.6%, driven by strong performance in western boots and denim
MERCHANDISE MARGIN INCREASE - Merchandise margin rose 110 basis points due to buying economies of scale, supply chain efficiencies, and exclusive brand growth
STORE EXPANSION - Opened 25 new stores in Q3, bringing total to 514, contributing to sales growth
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Slight Beat*
$705.60 mln
$701.17 mln (16 Analysts)
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories retailers peer group is "buy"
Wall Street's median 12-month price target for Boot Barn Holdings Inc is $225.50, about 15.2% above its January 9 closing price of $195.67
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 23 three months ago
Press Release: ID:nBwc5N3sTa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
