Boot Barn (BOOT) Piper Sandler Growth Frontiers Conference summary

Recent performance and sales trends

• Sequential improvement in sales has continued, with all channels, geographies, and categories now positive.

• Ladies' boots and apparel shifted from negative to strongly positive comps in the last 6-8 weeks.

• Core customer base is largely functional, leading to more stable demand despite economic fluctuations.

• Current growth benefits from cycling softer numbers from the prior year.

Business evolution and expansion

• Broadened product assortment and expanded store footprint, especially into the Northeast and East Coast.

• Average inventory per store increased, and new stores are larger with improved aesthetics.

• Customer count nearly doubled over the last five years, holding onto most of the pandemic-era comp gains.

• Targeting 15% annual store growth, with new markets performing strongly out of the gate.

Marketing and customer segmentation

• Marketing efforts include pre-opening campaigns, direct mail, local radio, and traditional media.

• New stores benefit from strong digital and traditional marketing, driving high initial sales.

• Customer segmentation now includes "Just Country"—rural lifestyle customers distinct from traditional Western.

• Successful partnerships with country music artists, with plans to expand such initiatives.