Can Boot Barn Reach Its 1,200 Store Potential Faster Than Expected?

Boot Barn Holdings, Inc. BOOT maintains a long-term goal of reaching 1,200 locations across the United States and the feasibility of reaching the target ahead of schedule relies on store expansion plans as well as the performance of new locations. By the end of the third quarter of fiscal 2026, Boot Barn operated 514 stores and opened a record 25 new locations during the quarter.

Momentum in store growth remains strong. Boot Barn is planning to open 15 additional stores in the fourth quarter, bringing total fiscal-year openings to 70, and expecting to add another 20 stores in the first quarter of fiscal 2027. These first-quarter openings are scheduled to begin in April, earlier than initially planned, aligning well with the company’s targeted annual new unit growth rate of 12% to 15%.

The expansion strategy is reinforced by compelling unit economics. New stores are expected to generate approximately $3.2 million in annual sales during their first full year, with the payback period for the initial investment is currently less than two years. These locations have consistently outperformed expectations across both sales and earnings, highlighting strong early productivity and attractive returns.

Recent data shows that 76 stores were opened in the trailing 12 months, which is already ahead of the 70-store annual guidance. These new locations are performing well across all geographic regions, including non-legacy markets like the Northeast and Florida. The success in diverse environments proves that the brand has broad appeal and is not limited by regional saturation.

Overall, with accelerating store openings, strong unit economics, and consistent performance across regions, Boot Barn appears well-positioned to reach and potentially surpass its long-term store target sooner than expected.

The Zacks Rundown for BOOT

BOOT’s shares have gained 13.2% year to date compared with the industry’s rise of 8.6%. BOOT presently carries a Zacks Rank #2 (Buy).

From a valuation standpoint, BOOT trades at a forward price-to-earnings ratio of 23.79, higher than the industry’s average of 19.36.

The Zacks Consensus Estimate for BOOT’s current and next fiscal year earnings implies a year-over-year rise of 26% and 16.1%, respectively.

Other Stocks to Consider

Some other top-ranked stocks have been discussed below:

Deckers Outdoors Corporation DECK, together with its subsidiaries, designs, markets and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally.  At present, Deckers sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for DECK’s current fiscal-year sales and earnings indicates growth of 8.9% and 8.7%, respectively, from the year-ago figures. DECK delivered a trailing four-quarter earnings surprise of 36.9%, on average.

Five Below, Inc. FIVE operates as a specialty value retailer in the United States. At present, Five Below currently sports a Zacks Rank of 1.

The Zacks Consensus Estimate for FIVE’s current fiscal-year sales and earnings implies growth of 22.4% and 25.8%, respectively, from the year-ago figures. FIVE delivered a trailing four-quarter earnings surprise of 62.1%, on average.

American Eagle Outfitters, Inc. AEO operates as a specialty beauty retailer in the United States, Mexico and Kuwait. At present, AEO flaunts a Zacks Rank of 1.

The Zacks Consensus Estimate for AEO’s current fiscal-year sales implies growth of 2.6%, and the same for earnings indicates a decline of 20.7% from the year-ago figures. American Eagle delivered a trailing four-quarter earnings surprise of 35.1%, on average.

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This article originally published on Zacks Investment Research (zacks.com).

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