Boot Barn Holdings Inc. (BOOT) stock plummeted 9.75% in pre-market trading on Friday, despite the company reporting strong third-quarter fiscal 2025 results and raising its full-year guidance. The Western apparel and work footwear retailer saw its revenue increase by 16.9% year-over-year to $608 million in the third quarter, driven by robust 8.6% growth in consolidated same-store sales.

The company's earnings per diluted share of $2.43 surpassed analysts' expectations and represented a significant increase from $1.81 in the prior-year period. Boot Barn also witnessed broad-based growth across all major merchandise categories and geographies during the quarter, attributing its performance to better inventory availability, supply chain efficiencies, and effective marketing efforts.

Despite the strong performance, investors appear to be concerned about the company's ability to maintain its growth momentum in the future. The company's guidance for the fourth quarter and full fiscal year, while raised, fell short of some analysts' expectations. Additionally, there may be concerns about potential headwinds from factors such as changing consumer preferences or increased competition in the Western apparel and work footwear market.