Boot Barn Holdings, Inc. · NYSE:BOOT
Boot Barn — Investor Presentation (November 2016)
22 slides from Boot Barn's investor presentation, Nov 2, 2016
Slide 1: Forward Looking Statements
FORWARD LOOKING STATEMENTS Forward-Looking Statements This presentation contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this presentation are forward-looking statements. You can identify forward-look
Slide 2: Agenda
OVERVIEW OF BOOT BARN STRATEGIC INITIATIVES FINANCIAL UPDATE AGENDA
Slide 3: Boot Barn Snapshot
Boot barn snapshot SALES composition1 Footwear 51% Hats, Accessories & Other 17% Apparel 32% Illustrative Store 1Note: Fiscal year ended March 26, 2016, including the sales results of the Sheplers business for the 9 months subsequent to the acquisition. Sales by End User1 Kids’ 5% Unisex 9% Men's 60
Slide 4: Everyday Merchandise Assortment
everyday merchandise assortment RUGGED FOOTWEAR OUTERWEAR OVERALLS PANTS SHIRTS WORK Low fashion quotient minimizes markdown exposure BOOTS DENIM WESTERN SHIRTS COWBOY HATS BELTS / BELT BUCKLES WESTERN
Slide 5: Comprehensive Assortment of Brands and Styles
COMPREHENSIVE ASSORTMENT OF BRANDS AND STYLES = Private brands Western Work / Other
Slide 6: History of Solid Growth
History of solid growth Note: Fiscal year ends March. FY13 includes 29 stores acquired from RCC with 7 month net sales of $35.5 million. FY14 includes 30 stores acquired from Baskins with 10 month net sales of $63.4 million. Sheplers was acquired June 29, 2015, the beginning of Q2 FY16. ¹ The period
Slide 7: Competitive Landscape
COMPETITIVE LANDSCAPE Western Wear Chains (Estimated STORE COUNT)1 Other Competitors 3x as many stores as closest competitor National Regional (Mostly Texas) Geographic presence Independent retailers Regional (Western Canada) Arizona North & South Carolina 1 Store count as of October 28, 2016. We ar
Slide 8: Boot Barn Strategic Positioning
Boot barn strategic positioning Genuine lifestyle retail brand Clear national leader in a large and fragmented market niche Significant new store growth opportunity Great omni-channel brand plus leading pure play e-commerce brand Long history of same store sales growth Strong portfolio of exclusive
Slide 9: Agenda
OVERVIEW OF BOOT BARN STRATEGIC INITIATIVES FINANCIAL UPDATE AGENDA
Slide 10: Strategic Initiatives
1 EXPAND OUR STORE BASE 2 3 4 DRIVE SAME STORE SALES GROWTH BUILD OUT PRIVATE BRAND PORTFOLIO GROW E-COMMERCE AND OMNI CHANNEL EXPERIENCE STRATEGIC INITIATIVES
Slide 11: Opportunity Exists to Double Current Store Count
Opportunity exists to double current store count FY12 86 stores 8 states FY13 117 stores 21 states 152 stores 23 states FY14 Compelling new store economics Current Boot barn 214 stores 29 states 1 GOALS Store Size (sq. ft.) 10,000 Year 1 Net Sales $1.7mm Net Cash Investment1 $0.8mm Cash on Cash Retu
Slide 12: History of Positive Same Store Sales Growth
History of positive same store sales growth 2 positive SSS for 26 of 28 quarters, >8% SSS growth on average for 7 years 1.0% 7.4% 7.7% 13.8% 16.2% 14.2% 14.1% 18.1% 19.6% 16.9% 17.8% 14.3% 10.7% 7.5% 8.2% 7.1% 3.8% 8.9% 7.7% 7.3% 7.2% 7.0% 5.6% 0.1% - 2.0% - 1.2% 0.4% 1.8% Q3 '10 Q4 '10 Q1 '11 Q2 '1
Slide 13: SSS Growth: WHIP
SSs Growth: WHIP 2 WHIP: We Have It Promise In-store touch screen devices Access to millions of additional boots, apparel and other items Inventory from our e-commerce warehouses and larger 3rd party vendors Broad selection of products and sizes Ability to purchase items in store and receive free sh
Slide 14: SSS Growth: Merchandising Initiatives
SSs Growth: Merchandising Initiatives Broadening men’s western boots to include moccasins and other western styles Expanding performance work boots On-going relationships with country music artists Introducing new festival wear 2
Slide 15: SSS Growth: Other Initiatives
SSS Growth: other initiatives Growing Commercial Accounts Upgrading our Ecommerce Platforms Enhancing Customer Relationship Management Improving Sales Training Store associates educating customers on commercial account opportunities An expanded work assortment and offering Improved work boot signage
Slide 16: Highly Successful Private Brands
Highly successful private brands Private brands account for approximately 13% of store sales 3 Core Boot Barn Private Brand Penetration 1 1 Excludes rebranded Sheplers stores. 3% 5% 7% 10% 13% FY2012 FY2013 FY2014 FY2015 FY2016
Slide 17: Leading Omni Channel & Leading E-commerce Brands
LEADING omni channel & leading e-commerce brands DUAL BRAND STRATEGY Product / Lifestyle / Omni-Channel Direct-to-Consumer / Promotional 1 E-commerce sales for the year ended March 26, 2016, which does not include Sheplers e-commerce revenue for the first three months of the fiscal year, prior to th
Slide 18: Agenda
OVERVIEW OF BOOT BARN STRATEGIC INITIATIVES FINANCIAL UPDATE AGENDA
Slide 19: Q2 FY2017 Results
Q2 FY2017 results 1Presumes that the availability on the revolver totals $125 million. Net sales increased 3.3% to $134 million. Consolidated same store sales increased 1.8%. Net income was $0.5 million, or $0.02 per diluted share, compared to adjusted net income of $1.2 million, or $0.04 per dilute
Slide 20: Q2 FY2017 Results
Q2 FY2017 RESULTS Net sales increased 3.3% to $134 million. Consolidated same store sales increased 1.8%. Net income was $0.5 million, or $0.02 per diluted share, compared to adjusted net income of $1.2 million, or $0.04 per diluted share in the prior-year period. Opened two new stores. Average inve
Slide 21: Adjusted EBITDA Reconciliation
Adjusted ebitda reconciliation (a) Represents non-cash compensation expenses related to stock options, restricted stock awards and restricted stock units granted to certain of our employees and directors. (b) Represents the non-cash accrual for future award redemptions in connection with our custome
Slide 22: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION Fiscal Year Ended Successor Predecessor finthousands) March 26, March 28, March 29, March 30, Dec. 12, 20110 Apr. 3, 014to 2016 ms 4 2013 Mar.31,2012___Dec. 11,2011, [EBITDA Recondition: Net income S$ 988 $ 1370 $ 5660 $ oo S$ (A601) $ (660) Income tax expense 73-8466
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