Irvine-based Boot Barn Holdings Inc. upgraded its targeted store count while reporting fiscal second quarter results on Wednesday.
“Our (total addressable market) TAM is now estimated to be approximately $58 billion, with market growth across all categories,” Chief Executive John Hazen said in a statement. “We now also believe we can operate 1,200 stores across the United States, an increase from our prior estimate of 900, which is more than double our current footprint.”
Boot Barn (NYSE: BOOT) jumped 18% to $505 million in net sales for the fiscal second quarter ended Sept. 27. The Western wear retailer’s same store sales increased by 8.4%.
The general analyst’s consensus for Boot Barn revenue was a 16% rise to $494 million.
Boot Barn also raised its annual forecast for the fiscal year 2026. The company now expects total sales of $2.197 billion to $2.235 billion, up from the previous range of $2.100 billion to $2.180 billion.
Shares were mostly unchanged at $192.50 apiece in after-hours trading with a market cap of $5.9 billion.
