Boot Barn reported net sales of $705.6 million for the third quarter ended December 27, 2025, up 16.0% from $608.2 million a year earlier. Consolidated same-store sales rose 5.7%, led by a 19.6% increase in e-commerce and a 3.7% rise in retail store traffic. Incremental volume from 25 new store openings (bringing the total to 514) contributed meaningfully to the year-over-year revenue gain, while digital channel investment continued to accelerate online penetration to 12.8% of sales for the quarter.

Gross profit expanded to $281.2 million, representing a 39.9% margin, up 60 basis points from the prior year. Merchandise margin alone increased by 110 basis points thanks to buying economies of scale, supply-chain efficiencies and growth in exclusive brands, partially offset by 50 basis points of deleverage in occupancy and distribution costs. Income from operations grew 15.3% to $114.8 million (16.3% of sales), driving net income of $85.8 million, or $2.79 per diluted share, compared with $75.1 million, or $2.43 per share, in the year-ago quarter.

As of quarter end the company held $200 million in cash and had zero borrowings under its $250 million revolving credit facility. Average inventory per store rose 4.1% on a same-store basis versus last year’s quarter. Under its $200 million repurchase authorization, Boot Barn repurchased 67,279 shares for $12.5 million in the quarter and 218,032 shares for $37.5 million year-to-date, signaling confidence in free cash flow generation and return of capital to shareholders.

Boot Barn updated its full-year guidance, now expecting to open 70 new stores, deliver total sales of $2.24 billion to $2.25 billion (17%–18% growth), and achieve consolidated same-store sales growth of 6.5% to 7.0% (with e-commerce up 14.5%–15.0%). Management projects merchandise margin of approximately 50.8% and gross profit of $850 million to $855 million. SG&A expenses are guided to $553 million to $558 million, indicating disciplined spending even as the store fleet and digital investments expand.