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Boot Barn (BOOT) Beats Q1 Earnings and Revenue Estimates
BOOTBoot Barn(BOOT) ZACKS·2024-08-07 23:36

Core Insights - Boot Barn (BOOT) reported quarterly earnings of 1.20pershare,exceedingtheZacksConsensusEstimateof1.20 per share, exceeding the Zacks Consensus Estimate of 1.08 per share, and showing an increase from 1.11pershareayearago,resultinginanearningssurpriseof11.111.11 per share a year ago, resulting in an earnings surprise of 11.11% [1] - The company achieved revenues of 423.39 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.78% and increasing from 383.7millionyear−over−year[2]−BootBarn′sstockhasincreasedapproximately53.2383.7 million year-over-year [2] - Boot Barn's stock has increased approximately 53.2% since the beginning of the year, significantly outperforming the S&P 500's gain of 9.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 0.92 on revenues of 403.35million,whileforthecurrentfiscalyear,theestimateis403.35 million, while for the current fiscal year, the estimate is 5.08 on revenues of 1.82billion[7]−TheestimaterevisionstrendforBootBarnisfavorable,leadingtoaZacksRank1(StrongBuy)forthestock,indicatingexpectedoutperformanceinthenearfuture[6]IndustryContext−TheRetail−ApparelandShoesindustry,towhichBootBarnbelongs,iscurrentlyrankedinthebottom381.82 billion [7] - The estimate revisions trend for Boot Barn is favorable, leading to a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Retail - Apparel and Shoes industry, to which Boot Barn belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Sportsman's Warehouse (SPWH), another company in the same industry, is expected to report a quarterly loss of 0.09 per share, reflecting a year-over-year decline of 125%, with revenues projected at $284 million, down 8.2% from the previous year [9]