Q3 2025 Boot Barn Holdings Inc Earnings Call Transcript
Key Points
- Boot Barn Holdings Inc (BOOT) reported a 17% increase in revenue for the third quarter, with consolidated same-store sales growth of 8.6%.
- The company opened 13 new stores in the quarter, bringing the year-to-date total to 39 new units, and plans to open 21 more in the fourth quarter.
- E-commerce sales grew by 11.1% in the third quarter, demonstrating strong online business performance.
- Merchandise margin expanded by 130 basis points due to supply chain efficiencies, better buying economies of scale, and growth in exclusive brand penetration.
- Boot Barn Holdings Inc (BOOT) raised its full-year guidance, expecting total sales to reach $1.92 billion, representing a 15% growth over fiscal 2024.
- The company faces potential risks from tariffs, particularly with 25% of its orders coming from Mexico, which could impact leather-soled cowboy boots.
- Work boots category underperformed compared to other segments, indicating room for improvement.
- Despite strong growth, the company anticipates some deleverage in buying occupancy and distribution center costs due to new store openings.
- The company is experiencing elevated inventory levels, which could pose a risk if not managed properly.
- Boot Barn Holdings Inc (BOOT) faces challenges in maintaining merchandise margin expansion as supply chain efficiencies may not continue to improve significantly.
Good day, everyone and welcome to the Boot Barn Holdings Inc. third-quarter 2025 earnings call. As a reminder, this call is being recorded.
Now, I'd like to turn the conference over to your host, Mr. Mark Dedovesh, Senior Vice President of Investor Relations and Finance. Please go ahead, sir.
Thank you. Good afternoon, everyone. Thank you for joining us today to discuss Boot Barn's third-quarter fiscal 2025 earnings results. With me on today's call are John Hazen, Interim Chief Executive Officer; and Jim Watkins, Chief Financial Officer.
A copy of today's press release along with a supplemental financial presentation is available on the Investor Relations section of Boot Barn's website at bootbarn.com. Shortly after we end this call, a recording of the call will be available as a replay for 30 days on the investor relations section of the company's website.
I would like to remind you that certain statements we will make during this call are forward
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