Ethan Sage's questions to Boot Barn Holdings Inc (BOOT) leadership • Q3 2025
Question
Ethan Sage, on for Janine Stichter, asked for more detail on future opportunities in private label brands, particularly in Men's and Work. He also inquired about other potential margin drivers and SG&A leverage points for the next fiscal year.
Answer
CFO Jim Watkins highlighted the Hawx exclusive brand as having significant upside in the work boot category. Interim CEO John Hazen discussed SG&A, noting that headwinds from increased lease expense and incentive-based compensation in the current year should not repeat, suggesting potential for leverage next year.