Clothing and footwear retailer Boot Barn (NYSE:BOOT) will be reporting results tomorrow afternoon. Here's what investors should know.
Boot Barn met analysts' revenue expectations last quarter, reporting revenues of $388.5 million, down 8.7% year on year. It was a mixed quarter for the company, with a decent beat of analysts' gross margin estimates but underwhelming earnings guidance for the next quarter.
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 grow 8.6% year on year to $416.6 million, improving from the 4.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.08 per share.
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, the whole sector has been hit hard over the last month as stocks in Boot Barn's peer group are down 3.1% on average. Boot Barn is down 7.4% during the same time and is heading into earnings with an average analyst price target of $141.1 (compared to the current share price of $119.91).
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