Why Is Boot Barn (BOOT) Stock Down 10% Today?


  • Boot Barn (BOOT) is sliding Thursday with its latest earnings report.
  • Results were mixed with a revenue miss and an EPS beat.
  • A weak outlook didn’t help BOOT out, either.
BOOT Stock - Why Is Boot Barn (BOOT) Stock Down 10% Today?

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Boot Barn (NYSE:BOOT) stock is taking a beating on Thursday following the release of its earnings report for its fiscal fourth quarter of 2023.

What’s dragging BOOT stock down today is the retail company’s revenue of $425.7 million. That’s below the $441 million in revenue that Wall Street was expecting. Even if it’s an 11% increase year-over-year.

That’s unfortunate considering Boot Barn’s earnings per share of $1.53 for the quarter. That’s better than the $1.44 per share that analysts were predicting for the period. It also comes in higher than the $1.47 reported during the same time last year.

BOOT Stock Outlook

Also not helping out BOOT stock is its guidance for its fiscal first quarter of 2024. This has it expecting revenue between $357 million and $364 million. That would see it missing Wall Street’s revenue estimate of $388.22 million for the quarter.

In addition to that, Boot Barn is expecting earnings per share for the current quarter to range from 79 cents to 85 cents. That’s not looking good for BOOT stock next to analysts’ EPS estimate of $1.17 for the quarter.

For the full year of fiscal 2024, Boot Barn expects revenue of $1.69 billion to $1.723 billion alongside EPS of $4.70 to $5.00. This is another negative compared to Wall Street’s estimates of $1.8 billion and $5.80 per share for fiscal 2024.

BOOT stock is down 10.4% as of Thursday morning.

Investors on the lookout for all of the latest stock market news will want to keep reading!

InvestorPlace is home to all of the most recent stock market coverage traders need to know about on Thursday! A few examples include why shares of Infobird (NASDAQ:IFBD) and SeaStar Medical (NASDAQ:ICU) stock are up, as well as the biggest pre-market stock movers this morning. You can get up to speed on all of this news at the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/05/why-is-boot-barn-boot-stock-down-10-today/.

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