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Boot Barn Holdings Inc

Boot Barn Holdings Inc

BOOT
$144.39USD↑+2.64%+3.71 today

MARKET CAP

4.4B

P/E (TTM)

19.6x

FWD P/E

—

DAY RANGE

$142 – $146

52W RANGE

$133
$210

AI Summary

Stalk
TrimMedium

BOOT remains entrenched in a Stage 3 downtrend below declining short‐ and intermediate‐term EMAs and SMAs. A decisive support failure has set the tone, but price is currently extended without a clear supply zone. Relief rallies into the 9- and 20-day EMAs or the 50-day SMA should be met with selling. Execution is deferred until rallies approach those resistance areas.

  • ↑Q1 revenue +18% YoY to $594M driven by 27 new stores and 4.7% comp sales.
  • ↑Plans 70 new stores in FY2027, targeting 1,200 total; new locations expected to generate ~$3.2M each annually.
  • ↓Boot Barn trades at P/E of 20.8 amid negative earnings yield, raising valuation concerns.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Boot Barn Holdings, Inc. (NYSE: BOOT) operates over 500 retail stores specializing in western and work-related apparel, footwear, and accessories. With a rapidly expanding presence across the United States and a growing e-commerce platform, Boot Barn has positioned itself as a leading retailer in the western lifestyle segment, capitalizing on a cultural trend that aligns with increased consumer interest in authenticity and heritage in fashion.

Bull says

  • ↑Q1 revenue +18% YoY to $594M driven by 27 new stores and 4.7% comp sales.
  • ↑Plans 70 new stores in FY2027, targeting 1,200 total; new locations expected to generate ~$3.2M each annually.
  • ↑Merchandise margin expanded 220bps to 52% via strong product margins and tariff refunds.
  • ↑Ended quarter with $200M cash, no revolver debt; repurchased 67K shares for $12.5M.
  • ↑Consensus 'Buy' rating and positive analyst revisions indicate growing institutional confidence.
  • ↑Strong liquidity and solid balance sheet support ongoing growth initiatives and flexibility.

Bear says

  • ↓Boot Barn trades at P/E of 20.8 amid negative earnings yield, raising valuation concerns.
  • ↓Inventory surged 16% YoY to $900M, risking markdowns if consumer demand slows.
  • ↓Rising occupancy costs from new store openings may compress future margins.
  • ↓Macroeconomic uncertainty and higher tariffs could force price hikes and hurt profits.
  • ↓Weak profitability and dividend yield factors suggest challenges converting revenue into earnings.
  • ↓Vulnerability to consumer sentiment swings could pressure sales during economic downturns.

Investment themes with BOOT

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Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 08-23-2026neutral

Transcript signals

Bull points

  • We expect to leverage that at a 3% comp for the year
  • the newer stores are comping better as they mature
  • But we plan on growing the comps in those legacy stores into the future, and that number will continue to go up in the way we're thinking about the business.

Bear points

  • It is still comping well below the rest of the business.
  • if not for tariffs and macro uncertainty, those would have been plus threes in Q4.
  • some of the pressure that tariffs and consumer sentiment may pose for us does raise concerns for the future.
Read full transcript analysis ›