Boot Barn (BOOT) Q1 Earnings Report Preview: What To Look For

Anthony Lee /
2024/05/13 3:00 am EDT

Clothing and footwear retailer Boot Barn (NYSE:BOOT) will be announcing earnings results tomorrow after market hours. Here's what you need to know.

Boot Barn missed analysts' revenue expectations by 1.4% last quarter, reporting revenues of $520.4 million, up 1.1% year on year. It was a weak quarter for the company, with underwhelming earnings guidance for the next quarter and full-year revenue guidance missing analysts' expectations.

Is Boot Barn a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Boot Barn's revenue to decline 9.5% year on year to $385 million, a reversal from the 11% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.89 per share.

Boot Barn Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Boot Barn has missed Wall Street's revenue estimates four times over the last two years.

With Boot Barn being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unravel for apparel and footwear retail stocks. However, there has been positive investor sentiment in the segment, with share prices up 6.5% on average over the last month. Boot Barn is up 6% during the same time and is heading into earnings with an average analyst price target of $108.5 (compared to the current share price of $104).

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