Boot Barn Holdings, Inc. · NYSE:BOOT
Boot Barn — Investor Presentation (August 2016)
22 slides from Boot Barn's investor presentation, Aug 8, 2016
Slide 1: Boot Barn
BOOT BARN August 8, 2016
Slide 2: 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 3: Agenda: Overview of Boot Barn, Strategic Initiatives, Financial Update
OVERVIEW OF BOOT BARN STRATEGIC INITIATIVES FINANCIAL UPDATE AGENDA
Slide 4: Boot Barn Snapshot
Boot barn snapshot SALES composition1 Footwear51% Hats, Accessories & Other17% Apparel32% 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% Unisex9%
Slide 5: 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 6: Comprehensive Assortment of Brands and Styles
COMPREHENSIVE ASSORTMENT OF BRANDS AND STYLES = Private brands Western Work / Other
Slide 7: 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 8: 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 July 27, 2016. We are t
Slide 9: 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 10: Agenda: Strategic Initiatives
OVERVIEW OF BOOT BARN STRATEGIC INITIATIVES FINANCIAL UPDATE AGENDA
Slide 11: 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 12: Opportunity Exists to Double Current Store Count
Opportunity exists to double current store count FY12 86 stores8 states FY13 117 stores21 states 152 stores23 states FY14 Compelling new store economics Current Boot barn 210 stores29 states 1 GOALS Store Size (sq. ft.) 10,000 Year 1 Net Sales $1.7mm Net Cash Investment1 $0.8mm Cash on Cash Return (
Slide 13: History of Positive Same Store Sales Growth
History of positive same store sales growth 2 same store sales has grown >8% on average for 7 years
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 Naming country music star Kelsea Ballerini as the face of Shyanne 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 opportunitiesAn expanded work assortment and offeringImproved work boot signage I
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.
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: E-commerce Traffic by Direct Competitor
E-COMMERCE TRAFFIC BY direct COMPETITOR FY ‘15 FY ‘16 Visitors (Millions) Estimated Traffic based on Alexa data FY ‘17 -58% -68% +5% +7% +8% +20% -4% -10% + Sheplers and Boot Barn growing online traffic while direct competitors decline 4
Slide 19: Agenda: Financial Update
OVERVIEW OF BOOT BARN STRATEGIC INITIATIVES FINANCIAL UPDATE AGENDA
Slide 20: Q1 FY2017 Results
Q1 FY2017 results 1Presumes that the availability on the revolver totals $125 million. Net sales increased 39% to $133.4 million. Consolidated same store sales increased 0.4%. Net income was $0.6 million, or $0.02 per diluted share, compared to $2.3 million, or $0.08 per diluted share in the prior-y
Slide 21: Appendix
APPENDIX
Slide 22: 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
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