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Boot Barn Holdings, Inc. is the largest lifestyle retail chain in the United States specializing in western and work-related footwear, apparel, and accessories. The company operates both physical retail stores and e-commerce platforms, offering a wide range of products that cater to western and country enthusiasts as well as workers seeking durable, high-quality gear. Its merchandise includes essentials such as boots, flame-resistant clothing, and accessories that reflect the aesthetics of the American West and rugged outdoor work.
- Footwear - Offers a wide selection of western and work boots, including safety-toe boots and durable styles for everyday use.
- Apparel - Provides coordinating western and workwear clothing, including flame-resistant and high-visibility apparel for workers.
- Hats, Accessories, and Other - Features hats, belts, and other accessories that complement western and workwear outfits.
- Exclusive Brand Products - Includes proprietary western and workwear brands such as Shyanne, Cody James, and Moonshine Spirit, designed to offer unique styles and value.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
James G. Conroy ExecutiveBoard | President, CEO, and Director | Board Member at Sally Beauty Holdings, Inc.; Children's Hospital of Orange County; Orange County School of the Arts | CEO since 2012; 25+ years of retail experience; previously held leadership roles at Claire's Stores, Blockbuster, and Deloitte Consulting. | |
James M. Watkins Executive | CFO and Secretary | None | CFO since 2021; joined Boot Barn in 2014; previously VP at Mindspeed Technologies and auditor at Ernst & Young. | |
John Hazen Executive | Interim CEO | Board Member at Grafton Apparel, Ltd. | Interim CEO since November 2024; joined Boot Barn in 2018 as Chief Digital Officer; led digital transformation and AI advancements. | |
Laurie Grijalva Executive | Chief Merchandising Officer | None | CMO since 2014; joined Boot Barn in 1993; extensive experience in merchandising and exclusive brand development. | |
Michael A. Love Executive | Chief Retail Officer | None | CRO since May 2022; joined Boot Barn in 2014; previously held roles in merchandise planning and store operations. | |
Anne MacDonald Board | Independent Director | Board Member at Hiscox Inc. | Independent Director since 2018; 30+ years of marketing experience; previously CMO at Citigroup, Macy’s, and Travelers Insurance. | |
Brad Weston Board | Independent Director | CEO and Director of At Home Group Inc.; Board Member at Vera Bradley, Inc.; Board Member at National Retail Federation | Independent Director since 2018; extensive retail leadership experience; previously CEO of Party City. | |
Brenda I. Morris Board | Independent Director | Partner at CSuite Financial Partners; Board Member at Xponential Fitness Inc., iHerb Holdings, LLC, Ideal Image Development, Inc.; Advisory Board Member at Asarasi, Inc.; NACD Pacific Southwest Chapter | Independent Director since 2014; CPA with extensive finance and accounting expertise; Chairperson of Audit Committee. | |
Chris Bruzzo Board | Independent Director | Interim Co-CEO and Co-President at Peloton Interactive, Inc.; Advisory Board Member at Mission Scholars; Member of Latino Corporate Directors Association | Independent Director since 2021; 20+ years of marketing and digital strategy experience; previously EVP at Electronic Arts and SVP at Starbucks. | |
Eddie Burt Board | Independent Director | Chief Supply Chain Officer at Love’s Travel Stops & Country Stores, Inc. | Independent Director since 2021; 30+ years of retail experience in supply chain and real estate operations; previously EVP at Big Lots and SVP at PetSmart. | |
Lisa G. Laube Board | Independent Director | Board Member at Zoo Atlanta; Terry Dean’s Advisory Council at University of Georgia | Independent Director since 2018; extensive retail leadership experience, including President of Floor & Decor and Party City. | |
Peter Starrett Board | Executive Chairman | Board Member at Floor & Decor Holdings, Inc. | Executive Chairman since November 2024; board member since 2011; extensive retail leadership experience, including Warner Bros. Studio Stores and The Children’s Place. |
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As you plan to open 21 stores in the fourth quarter and a total of 60 new stores this fiscal year, representing 15% new unit growth, how are you managing the risk of cannibalization, especially in densely populated areas where you have stores within 10 miles of each other, and what impact do you expect on mature stores when a new store opens nearby?
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Given that the significant supply chain efficiencies contributed to a 130 basis point increase in merchandise margin this quarter, but you noted that such efficiencies are unlikely to continue at the same rate next year, how do you plan to sustain merchandise margin expansion moving forward?
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With the Work Boots and Apparel business comping only low single-digit positive in the third quarter, compared to higher growth in other categories, what strategies are you implementing to improve performance in this segment, and how confident are you in comping the comp in categories that have already shown strong improvement?
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The SG&A expense as a percentage of net sales decreased by 90 basis points primarily due to the reversal of incentive-based compensation related to the CEO transition; without this one-time benefit, how do you expect SG&A expenses to trend in future quarters, and what impact might this have on operating margins?
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Considering that inventory increased 23% over the prior year period, with only a 1% increase on a same-store basis, and acknowledging elevated inventory levels, how are you managing the risk of potential markdowns if demand softens, and is this level of inventory investment sustainable for driving same-store sales growth?