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Boot Barn's (BOOT) Q3 Earnings: What Awaits the Stock?

Zacks Equity Research

Boot Barn Holdings, Inc. BOOT is scheduled to release third-quarter fiscal 2020 results on Feb 4, after the closing bell. This Irvine, CA-based lifestyle retailer delivered a positive earnings surprise of 20% in the preceding quarter. It has a trailing four-quarter positive earnings surprise of 22.7%, on average.

Preliminary Q3 Results

Last month, Boot Barn third-quarter preliminary results painted an encouraging picture. Strength in nearly all key product categories and geographic regions drove same-store sales performance. Robust growth in brand penetration and constant focus on full-price selling further boosted the Zacks Rank #2 (Buy) company’s merchandise margin.

Preliminary numbers showed a 6.7% rise in same-store sales. This includes retail store same-store sales growth of 5.7% and rise in e-commerce sales of about 11%. Concurrently, Boot Barn’s same-store sales rose about 6% for the combined November and December period.

Boot Barn Holdings, Inc. Price and EPS Surprise


Boot Barn Holdings, Inc. Price and EPS Surprise
Boot Barn Holdings, Inc. Price and EPS Surprise

Boot Barn Holdings, Inc. price-eps-surprise | Boot Barn Holdings, Inc. Quote

Moreover, net sales for the third quarter advanced 11.8% to $284 million Further, Boot Barn’s adjusted earnings per share grew 28.8% to 85 cents, thanks to enhanced sales and improved merchandise margins.

However, we note that the company has been witnessing higher selling, general and administrative costs for a while now. Rise in such expenses can be mainly attributed to higher spending to drive sales, and expenses for new and acquired stores. Management had earlier projected a marginal increase in occupancy costs.

Other Stocks to Consider

Chico's FAS, Inc. CHS has an impressive long-term expected earnings growth rate of 15% and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Zumiez ZUMZ, also a Zacks Rank #1 stock, has expected long-term earnings growth rate of 12%.

Genesco Inc. GCO has expected long-term earnings growth rate of 5% and a Zacks Rank of 1.

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