Slide 1: Supplemental Financial Presentation November 2023
Offering everyone a piece of the American spirit—one handshake at a time. Supplemental Financial Presentation November 2023 0
Slide 2: Important Information
Important Information 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-looking
Slide 3: Q2 Fiscal 2024 Financial Results
Q2 Fiscal 2024 Financial Results Q2 Total Sales ($M) Q2 Income from Operations ($M) Q2 GAAP EPS $0.90 $0.90 $372 $374 $379 $38 $39 $0.84 $35 5.8% 6.5% 7.8% 10.0% 10.3% growth growth growth 9.5% of sales of sales of sales Low-End Actual High-End Low-End High-End Actual Low-End High-End Actual Guidanc
Slide 4: Q2 Fiscal 2024 vs. Five Years Ago
Q2 Fiscal 2024 vs. Five Years Ago Q2 Total Sales ($M) Q2 Store Count Q2 GAAP EPS 123% Growth 60% Growth 463% Growth 17% CAGR 41% CAGR $374 371 44 States $0.90 232 $168 31 States $0.16 FY19 Q2 FY24 Q2 FY19 Q2 FY24 Q2 FY19 Q2 FY24 Q2 3
Slide 5: Morgan Wallen & Dallas Cowboys Partnerships
Morgan Wallen & Dallas Cowboys Partnerships Morgan Wallen Dallas Cowboys 2024 Headline Tour Sponsor Official Sponsor of the 2023-2024 Season 4
Slide 6: Strategic Initiatives Update
Strategic Initiatives Update 1 Expand Our Store Base 2 Drive Same Store Sales Growth 3 Continue Omni-Channel Leadership 4 Build Out Exclusive Brand Portfolio 5
Slide 7: Annual Store Count and New Stores Opened by Quarter
1 15% New Unit Growth New Stores Opened by Quarter Annual Store Count 397 345 300 273 259 240 219 226 208 169 152 117 86 16 15 11 11 11 10 12 12 10 11 1 FY22 FY22 FY23 FY23 FY23 FY23 FY24 FY24 FY24 FY24 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 E 1 1 1 1 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q
Slide 8: Profitable New Units & Expanding Our National Footprint
1 Profitable New Units & Expanding Our National Footprint Today 2012 • 86 stores • 374 stores • 8 states • 44 states New Store Economics ~$3.3M $1.5M $1.5M 12K 12K ~66% ~1.5yr 10K Payback ~$2.0M $1.7M $700K 32% 32% IPO Model 3yr Underwritten Payback Projection Today SqFt 1st Year Sales Investment Re
Slide 9: New Store Prototype & Remodels
1 New Store Prototype & Remodels Remodel Target Store Current Prototype Store 8
Slide 10: The Path to 900 Stores
1 Looking Forward: 15% New Unit Growth The Path to 900 Stores1 900 397 FY24 E FY25 FY26 FY27 FY28 FY29 FY30 1Represents 15% new unit growth annually. 9
Slide 11: Store SSS% by Month
2 Store SSS% by Month Stores are ~90% of FY24 Q2 Sales FY24 1.5% 1.1% -5.0% -2.6% -3.7% -7.3% -8.2% Q2 SSS% Guidance 1.0% -4.0% -4.0% 1 Apr May Jun Jul Aug Sep Oct FY23 14.8% 8.1% 8.1% 4.4% 5.1% 1.6% 1.5% 1.9% 0.6% -3.2% -1.9% -6.2% Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY22 323.1% 98.2% 7
Slide 12: Over a Decade of Strong Sales Across Channels
2 Over a Decade of Strong Sales Across Channels Total Sales Growth % Consolidated SSS% 66.6% 53.7% 48.4% 41.3% 38.2% 16.4% 14.6% 10.7% 11.4% 11.9% 10.0% 7.6% 8.8% 6.7% 7.3% 5.7% 5.2% 5.0% 2.7% 3.1% -0.1% 0.3% -0.1% -5.0% 1 1 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 E FY13 FY14 FY1
Slide 13: Q2 Merchandise Margin Expansion
2 Q2 Merchandise Margin Expansion ~640bps Q2 Merchandise Margin Rate Growth over Six Years +50bps +50bps +360bps +200bps (50)bps +30bps FY19 FY20 FY21 FY22 FY23 FY24 COVID 12
Slide 14: Omni-Channel Capabilities
3 Omni-Channel Capabilities Deliver Digital Experience in Drive Store Traffic Stores • Bring Long Tail to Stores • • Ship to Store / BOPIS • Mobile App • Return in Store • Range Finder (finite aisle) • WHIP (endless aisle) • Handheld Tablet Fulfill Online Demand Improve Online Profitability Efficien
Slide 15: Ecommerce SSS% by Month
Ecommerce is 3 Ecommerce SSS% by Month ~10% of FY24 Q2 Sales FY24 -9.0% -3.5% -10.6% -19.1% -11.9% -13.0% -16.7% Q2 SSS% Guidance -11.4% -12.0% -5.0% 1 Apr May Jun Jul Aug Sep Oct FY23 13.1% 8.5% 6.4% -3.0% -1.3% -13.5% -10.1% -16.3% -18.5% -18.7% -19.4% -25.4% Apr May Jun Jul Aug Sep Oct Nov Dec Ja
Slide 16: Exclusive Brands Portfolio
4 Exclusive Brands Portfolio WESTERN COUNTRY ARTIST INSPIRED WORK RANCH & RODEO 15
Slide 17: Exclusive Brands Penetration Growth
4 Exclusive Brands Penetration Growth Q2 Exclusive Brands Sales ($M) Full Year Exclusive Brands Sales ($M) $664 $145 $564 $114 $421 $186 $212 $126 $67 $92 $39 $63 $5 $12 $24 1 FY23 Q2 FY24 Q2 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 E Q2 Exclusive Brands Penetration % Full Ye
Slide 18: FY24 Guidance
FY24 Guidance 17
Slide 19: Full Year FY24 Financial Guidance
Full Year FY24 Financial Guidance Low End High End High End Guidance Full Year FY24 Financial Guidance ($M) ($M) Comments Total Net Sales $1,677 $1,702 Consolidated SSS% (6.5)% (5.0)% Store SSS% (5.5)% (4.0)% E-commerce SSS% (13.0)% (11.0)% Total Net Sales Growth % (includes sales from the 53rd week
Slide 20: Q3 FY24 Financial Guidance
Q3 FY24 Financial Guidance Low End High End High End Guidance Q3 FY24 Financial Guidance ($M) ($M) Comments Total Net Sales $522 $535 Consolidated SSS% (10.5)% (8.0)% Store SSS% (9.5)% (7.0)% E-commerce SSS% (15.5)% (12.5)% Total Net Sales Growth % 1.4% 4.0% New Store Openings 11 11 +310bps merchand
Slide 21: Investment Considerations
Investment Considerations National Leader in World Class Omni-Channel Strong New Unit Growth Attractive Market Capabilities Opportunities • Leading player in estimated $40 • Strong variety of omni-channel • Proven ability to open stores in both billion industry offerings in place new and existing ma
Slide 22: investor.bootbarn.com
i a Ta/ investor.bootbarn.com