Boot Barn posts solid Q1; tariff refunds lift margins and outlook
Jul 29, 2026, 4:17 PM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting
Strong Q1 beats with tariff-related margin uplift and clear multi-quarter visibility via 70-store plan and 2.58–2.625B revenue guide; balanced by July softness but overall bullish trajectory.
AI summary
What happened, with direct paths to the underlying reporting
Boot Barn reported a solid first quarter of FY2027, with net sales up 17.7% to $593.5 million and same-store sales rising 4.7% (retail +3.8%, e-commerce +13.4%). Tariff refunds of $14.7 million boosted gross margins and added about $0.38 per share to earnings, aiding a move higher as the company opens 27 new stores to 566 and maintains a constructive FY guidance including 70 store openings. The combo of margin lift, online strength, and ongoing store expansion supports a favorable multi-quarter trajectory, assuming tariffs and consumer spending remain favorable.
Net sales rose 17.7% to $593.5M; tariff refunds recognized in COGS.
SSS up 4.7%; e-commerce SSS +13.4% driving growth.
Tariff refunds add about $0.38 per share to EPS; $14.7M recognized.
Opened 27 stores; total stores 566; $139M cash; revolver undrawn.
FY2027 guidance: open 70 stores; sales $2.58–2.625B; EPS $8.80–9.23.
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