Clothing and footwear retailer Boot Barn (NYSE: BOOT) will be reporting results this Wednesday afternoon. Here’s what investors should know.
Boot Barn beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $505.4 million, up 18.7% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.
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This quarter, analysts are expecting Boot Barn’s revenue to grow 15.9% year on year to $705.1 million, in line with the 16.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.76 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 three 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 2.5% on average over the last month. Boot Barn is down 4.9% during the same time and is heading into earnings with an average analyst price target of $231.86 (compared to the current share price of $183.72).
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