Boot Barn Holdings, Inc. · NYSE:BOOT
Boot Barn — Q2 2026 Earnings Presentation
17 slides from Boot Barn's earnings presentation, Oct 29, 2025
Slide 1: Supplemental Financial Presentation
Offering everyone a piece of the American spirit—one handshake at a time. Supplemental Financial Presentation October 2025 0
Slide 2: Important Information
Important Information Forward-Looking Statements This presentation contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this presentation are forward- looking statements. Forward-looking statements refer
Slide 3: Q2 Fiscal 2026 Results
Q2 Fiscal 2026 Results Q2 Total Sales ($M) Q2 Income from Operations ($M) Q2 Earnings Per Share 19% Growth vs. LY 41% Growth vs. LY 44% Growth vs. LY $495 $505 $56.4 +8.4% $53.0 $1.37 +6.5% 11.2% $1.27 $426 SSS% SSS% 10.7% of sales of sales +4.9% SSS% $40.0 $0.95 9.4% of sales LY High-End Actual LY
Slide 4: Q2 Fiscal 2026 Results
Q2 Fiscal 2026 Results Q2 Total Sales ($M) Q2 Consolidated SSS% 19% Total Sales Growth vs. LY 61.7% $505 $426 $352 $374 $313 4.9% 8.4% $185 2.3% -5.1% -4.8% FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 Onset of Onset of COVID COVID Q2 Merchandise Margin % Q2 Earnings Per Share +560bps
Slide 5: Total Addressable Market has Increased
Total Addressable Market has Increased Total Addressable Market (TAM) All categories have increased ~$58 Billion ~$40 Billion 1 2 Prior TAM Updated TAM 1Prior estimated TAM calculated by an independent third party in April 2022. 2Updated estimated TAM calculated by an independent third party in Augu
Slide 6: Updated Store Count Potential – 1,200 U.S. Stores
Updated Store Count Potential – 1,200 U.S. Stores1 Annual Store Count More than Double Current Store Count 1,200 stores Annual new store growth rate of Future Store 12% to 15% Openings 529 459 400 Fiscal 2026 345 Year End 300 259 273 Estimate 226 240 208 219 117 152 169 529 stores 86 in 49 States2 2
Slide 7: Strategic Initiatives Update
Strategic Initiatives Update 1 New Stores 2 Same Store Sales 3 Omni-Channel 4 Merchandise Margin & Exclusive Brands 6
Slide 8: New Store Economics
1 New Store Economics FY26 Metrics Guidance Selling Square Feet ~12,000 Year 1 Net Sales ~$3.2M Net Capital Investment ~$0.9M Net Inventory Investment ~$0.8M Total Net Investment ~$1.7M Year 1 Cash on Cash Return ~53% Payback Period ~1.8 years Annual Store Count 529 459 400 345 300 259 273 219 226 2
Slide 9: Same Store Sales Growth
2 Same Store Sales Growth Consolidated SSS% 53.7% 11.9% 10.0% 6.7% 7.3% 5.2% 5.0% 5.5% 6.0% 3.1% 0.3% -0.1% -0.1% -6.2% 1 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 E Fiscal Consolidated SSS% by Quarter Year Q1 Actual Q2 Actual Q3 Q4 Full Year FY26 High-End Guide 1 9.4 8.4
Slide 10: Store SSS%
2 Store SSS% FY26 9.8% 11.0% 11.2% 8.0% 7.9% 7.6% 5.1% Apr May Jun July Aug Sep Oct 1 Nov Dec Jan Feb Mar FY25 16.0% 5.3% 7.5% Thanksgiving 7.0% 8.0% 1.9% 1.8% 4.6% Shift 0.9% -1.5% -0.9% -2.4% Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY24 1.5% 1.1% -5.0% -2.6% -3.7% -2.8% -7.3% -8.8% -8.5% -
Slide 11: Omni-Channel Capabilities
3 Omni-Channel Capabilities Deliver Digital Experience in Drive Store Traffic Stores • Bring Long Tail to Stores • Mobile App • Ship to Store / BOPIS • Range Finder (AI-enabled) • Return in Store • WHIP (endless aisle) • Cassidy (in-store consumer AI solution) Fulfill Online Demand Drive Online Prof
Slide 12: E-commerce SSS%
3 E-commerce SSS% FY26 24.1% 15.8% 16.1% 14.3% 12.3% 12.5% -0.4% Apr May Jun Jul Aug Sep Oct1 Nov Dec Jan Feb Mar FY25 12.1% 12.2% 13.7% Thanksgiving 13.5% 17.1% 6.0% 8.7% Shift 9.0% 5.0% 5.0% 2.2% 5.1% Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY24 -3.5% -5.9% -6.0% -9.0% -11.9% -10.6% -8.4%
Slide 13: Margin Expansion & Exclusive Brands Growth
4 Margin Expansion & Exclusive Brands Growth Exclusive Brands Exclusive Brands (EB) Penetration Growth Margin enhancement ~1,000bps vs. 3rd party brands 41.0% 38.6% +240bps vs. LY 16.2% $126M $738M $916M in sales in sales in sales 1 FY19 FY25 FY26 E Merchandise Margin Growth Exclusive Brands (EB) is
Slide 14: FY26 Guidance
Te ae ar Kal eo 8 RO le ee, Se os cee a FY26 Guidance
Slide 15: Full Year Fiscal 2026 Financial Guidance
Full Year Fiscal 2026 Financial Guidance Prior Guide Full Year Low-End High-End Low-End Guidance High-End Guidance High End FY26 Financial Guidance ($M) ($M) Comments vs. LY Comments vs. LY ($M) Total Net Sales $2,197 $2,235 $2,180 Consolidated SSS% 4.0% 6.0% 3.5% Store SSS% 3.3% 5.3% 3.0% E-commerc
Slide 16: Q3 Fiscal 2026 Financial Guidance
Q3 Fiscal 2026 Financial Guidance Low-End High-End High-End Guidance Q3 FY26 Financial Guidance ($M) ($M) Comments vs. LY Total Net Sales $688 $700 Consolidated SSS% 2.5% 4.5% Store SSS% 1.0% 3.0% E-commerce SSS% 13.0% 15.0% Total Net Sales Growth % 13% 15% Merchandise Margin1 $342 $348 +30bps merch
Slide 17: investor.bootbarn.com
investor.bootbarn.com 16