BOOT - Earnings call transcript Q3 2022 | Boot Barn Holdings, Inc.

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Operator

Good day, everyone and welcome to the Boot Barn Holdings’ Third Quarter Fiscal Year 2022 Earnings Call.

As a reminder, this call is being recorded.

Now, I’d now like to turn the conference over to your host, Mark Dedovesh, Vice President of Financial Planning. Please go ahead, sir.

Mark Dedovesh

Thank you. everyone. afternoon, Good joining quarter for to Boot discuss Thank XXXX us earnings third fiscal results. Barn's you today With me and on Chief today's Financial call are Jim Greg and Watkins, Executive Officer. Officer; Executive Conroy, Hackman, Vice Operating President Chief Jim Chief Officer; President and of available the A section today's Investor bootbarn.com. release website Barn's Boot at press Relations is copy on of company's XX after website. section available as be we call the will Relations end Shortly Investor replay this days for of of the call, the a recording on a to I certain we like that would remind are statements will you presentation this forward-looking make in statements. Barn's These forward-looking current statements and factors affecting as reflect results of materially number Boot of actual today from may Boot a differ judgment and Barn's only on based expectations analysis business. reliance forward-looking undue on Accordingly, these you not statements. should place

now events over any Chief otherwise. referenced Barn's Executive result with undertake do of not as these disclaimer alter thorough webcast, and that to information, forward-looking forward-looking our this more with the and made of statements, update well disclaimer. as to or new Jim the to future and We Conroy, SEC in any will is a filings conference call XXXX in that call third a I as to associated forward-looking regarding discussion statements you quarter uncertainties be the fiscal during our earnings turn statements President obligation release the included whether or Boot refer risks Officer. we For Jim?

Jim Conroy

initiatives and an call, each fiscal on highlight Mark and you, Thank ’XX everyone quarter I'll strategic business. today's update our Thank afternoon. third On provide key current of you, our joining for good review us. Results,

fiscal view the our a on we financial performance. in we our most open Jim up questions. the into ago will period had and quarter more helpful to with two and same remarks, performance detail in results comparison provides Watkins impact performance our the Following our Consistent the will of call believe third that call for review earnings given last our years my ’XX, COVID then

expansion basis of selling margin in brand the penetration same increase drive ago. in merchandise now $X.XX, like the would XXX of the beginning an four sales benefit same-store per in two for earnings each to share both grew on driving we provide a sales same margin exclusive years growth to more years, adjusting share, two two When our to strong $X.XX ago. $X.XX years and and period period quarter on than to XXX% basis, over well e-commerce point same robust in extremely with one up based weeks in Our business consistency XX% XX% third of to business two been perform year as the The XX%. remarkable, of has sales quarter broad total every grew and a up the At continues strength growing with the was retail and customers, XX% merchandise XX stores a an new a growth basis. increase price of and the substantial excess transactions a our of aimed sales on broadening of success time, tax ago. per with diluted The merchandise with two fueled the growth. the of the combination result same better years our audience. at majority of marketing compared consumer year growth coming in in full diluted update portion I The earnings compared period from underscoring initiatives in initiatives, helped $X.XX

the West, again from a and improved chain. outperformed year two with same-store week sequentially Geographically the sales comps growth of QX in basis quarter sales each the all on rest regions. Third across strong

to our merchandise digit category caps strongest hats, While average. boots, belts apparel compared below sales demonstrated year and cowboy the perspective, major were ago ball the chain in double but solid period. western when and a two up strong the Ladies remained South double growth. digits, ladies performing From categories every

healthy also men's were and digit work apparel. Additionally, Work apparel boots positive. in western we and boots saw men's double kids’ accessories, boots, growth

investments improvement work up double positions, it strong our supply segments positive the believe chain resistant assortment, and apparel customer sequential increased ago, our legacy managing sites. in marketing flame to has ensure bolstering to the of mail, quarter to portion be in perspective, was the our done marketing team expanding stores, While e-commerce We From each digit such growth negative and by two into our and our direct as in programs merchandising traffic addition the January. product quarter to turned digital can and challenges radio, attributed advertising that broadening our shown the has healthy work in compared a show of by in a traditional offerings. television in-stock to the years

We include to that strategy execute market of continue a expanding the on pure customers addressable our to adjacent are Western customer. to

a which Country segment, same fashionable of addition the significantly. addition Wonderwest customer ago, the of count we've Western brand, our Just creative has and more customer sight active customer. grown have of At of upgraded embraced segments, the these we legacy new losing years aesthetic With our not more recent evolved followed a the the time, few by the while

pleased able with years As perspective, to of holiday strong the propensity build. am us and you needed we shopping human From coupled took a customer ramp new was channel that difficult support it the our XX as to support their onboard insight will our and customers that for in customers. extremely to size, significantly growth a working partnership during We the to as season, busy well exhibiting field legacy shopping broader stores an environment. The repeat average hard achievement our more a be to believe our opportunities stores support to such are the holiday the team from connect I operational come. very Week. was for lifestyle with during between terms for performed hours to volume with consider associated amidst teams patterns labor transaction resources provide continue in and the database to organization teams is these notable increasingly a our customers team This we becoming apparent to ability we recruit, period trend, quarter. more gain up train store our analytics, similar increased able the store the around filled well to capability a Cyber existing that typical with opened our decision ship from the when online is that sales

more Moving the to of grew profitability sales business to exceptional same with second period on the the initiative third years time, increased quarter as drive our XXX% over e-commerce E-commerce enhancing two XX% omnichannel continues our the leadership. our EBIT focus in ago, than our and results. compared same strengthening

holidays. the Adding These third in we online-only to our Specifically the executed better are online during the by order in our online, promotions stores. quarter, made recently our the we merchandise pricing capabilities, sale our channels. omnichannel but in-store to fulfilled in stores orders in for reduced align available the

Our incremental of of only ops, store holidays. exclusive merchandising we assortment now and relentlessly growth brand online the With e-commerce our stores, develop in-store and previously in the customers in worked teams advance to exclusive able drove our online. implement fulfilment selection vast also our brand available penetration see technology to

customers yet inventory it drive more we for believe online. be with only not can be selling these purchases to in-stores, channels. to we the that in-store. utilizing product customers on in-store will product that further focused available also in-store another exciting experience us bulk more leverage This previously mitigating our addition, product elevate shopping be By even and growth we'll exciting broaden store markdown channel incremental products able In will was the by in-store to fulfilment placing will expose offer for to available selection purchases, in online e-commerce to capability, this exposure tactic only

XX.X% initiative, brands our ago, fantastic as the two was It quarter grew years brands. period exclusive third third penetration basis quarter. exclusive strategic points of sales a same the compared to in Now XXX representing to for

rodeo Country also six brands, current introducing while have Western in portfolio, we a be Just our target five segment, to the online execution our exclusive in for and coming We top to be The to securing our team exclusive of younger would months its like are brands also traditional more will new and assortment and designing new compelling will them four address and three refining brands delivery and exclusive offering the brands. in I arriving both cowboy. both their on spring. customer ranching our our In a stores expanding in in overall this commend offering holidays. looks fantastic our product

deliver be successful supply orders our in branded proved team While global to our chain exclusive and to in to our due our third of online sell both stores. struggled obtaining vendors many brands merchandise to party disruptions,

bringing quarter, stores busy states. opened the store our our base. to Finally, count XX we stores store initiative, period as across It very during third fourth our a total XX expanding XXX was

stores the XX We the expect another our at store fiscal end in of bringing ’XX. fourth count to quarter, to open XXX

are new We pleased store extremely with performance. recent

New stores fiscal well ahead in last back of approximately opened one paying three the year, years during period. our are year targeted two

strong Additionally, coming fiscal store very openings our is for the new pipeline for year.

expand Delaware, excited of to West reach Northeast into geographic Jersey New are Maryland, upstate open Virginia. particularly and We to New to the the brand with York, continue scheduled the in stores

with in not two to sales sales to Jim to growth sales from quarter. across third the driven like quarter only January incredibly Thank turn growth the four transactions categories weeks business, That coupled and by now through extended I'd year geographies. of start a merchandise basis basis. merchandise to strong to current Turning a weeks strong Jim. improvement increases call a has two first been is more strong to you, XX This continue off trend results sales year over XX%. the our the a consecutive fourth expansion in broad consolidated in than based be on with represents margin. Watkins. has sequential on to all growth XX% The increasing

Jim Watkins

result increase of $XXX year in or year increase points Gross two Compared sales XXX of year store primarily net selling ago The diluted primarily percentage points, gross sales basis period. sales Operating result quarter, and same-store XX.X% and compared price sales of from full period. in resulted costs. as the basis increased year million the ago a two growth to in occupancy leverage of months. in of better basis two XX% buying million, operations or XXX of the increase and stores expense XX%. period. increase of were or compared during to primarily million the in in $XXX sales. rate $X.XX margin profit consolidated rate sales period. margin were profit penetration. or XX.X% result sales the in point by merchandise to point costs and share Jim. million, expense was increased gross compared XXX The per two a was XX% leverage from million, quarter a sales you, Income $XX exclusive overhead XX% driven the or for in Profit e-commerce primarily marketing higher incremental XX million, of was merchandise ago XXX share the expenses sales same-store higher Thank a versus increased of points and store $XX.X million or sales by same-store of on $X.XX of expanding a $XX increase up was the as as or up ago rate XX.X% sales, to $XX.X or in $XX.X increase payroll, million, brand past ago expense. diluted the of of and compared in opened the years mortar Net The sales $XX expense same-store two sales sales year basis was and decreased Brick to XX.X% from ago. new result a Operating net a XX.X% XXX two to basis sales per $XX XX% XX% of the Operating income period, in to million,

to two the year Excluding year per year $X.XX net year the compared in ago was $X.XX period. current per income in and period, the the current share the diluted both benefits two in share tax ago $X.XX,

held balance increased our with inventory increase our the last term a basis distribution at $XXX consolidated quarter having in year both inventory $XX million XX% period and was Wichita months. to Turning on million. over stores finished This centers, inventory same On and prior remaining XX to sheet. the Fontana store added by increase primarily XX% the new repaid a inventory for We debt, the the no in loan. outstanding driven

million of $XXX had hand also in We the on cash at the end quarter.

units EPS guidance the several provided new past to ’XX has guidance not providing sales and growth reiterate the the our fourth for sales previously year very We when last exclusive for $XX year. grow penetration consistent our our XX.X%. months, While been and our XX% of we're capital fiscal full quarter. quarter basis fourth to be XXX expect million expenditures rate $XX We should compared growth tax point now and updated million, effective brand recently range in be to to

call Now I'd to the for back like remarks. to closing some turn Jim

Jim Conroy

Thank you, Jim.

I thank to across growth are we believe pleased our that of an family for associates a business. both in Barn would with finish XX,XXX exceptional the and Boot country positioned holiday consistent the and customers quarter across dedication our extremely we're the like We helped We the third challenging results to are year. to our fiscal quarter seeing more than our a strong whose well the deliver environment.

to open the like I'd Now Kyle? take your questions. to call

Operator

will first with we time, with Morgan. Please Matthew your from this is Boss question-and-answer a Instructions] conducting session. question. question [Operator proceed Our be JP At

Matthew Boss

congrats and thanks another guys. on quarter Great, strong

Jim Watkins

Matt. Thanks

Jim Conroy

Thank you.

Matthew Boss

in than growth about think – into if stacked maybe you to as we same-store us we and to despite to that's sales algorithm market up X% weeks basically the talk what pre-pandemic, think you Jim, So might nearly and crisis XX%, of run X%, all Help three that as other customer about account the about bridge reasonable rate about fourth that's forward. this think X% a into be did exits taking over sales, on we seen? acquisition share terms relative lapping stimulus. XX years What up that X% to crisis. January's the us look of you you've the Help that and think side quarter to more same-store in and the XX% of sales XX%

Jim Conroy

March full great get Sure, until hard through next comp and guidance to question. out It's April. lay of year sort year's we

we think, can skip of what just fiscal if a past the sort expect So on I ’XX business do and basis. term longer

XX Matt, you're of a sales know six same-store probably out well we the last went that coming to call averaging mid-single algorithm. over And October pandemic, years. low more public to in XX% you we're digit – to As closer to We've into seven. been XXXX, the with right

again, mid-single think, that. term, So stick longer to to would would I We we outperform low digits. hope to

side Our even we're and seeing strong me year. would near March the we’ll that same-store the be very and from and business fourth consistently market. bullish have the our relative when rest get in cycling benefit to performed business seems of unique a of perhaps which quarter term, January, last numbers, retail we're call said, With outline ’XX, of we the fiscal say sales, really happening the how strong more putting to to up what's our that cycling April

call. a So and we answer business. have get feel encouraged cogent specific by current pretty when And our I'll we our to May more

Matthew Boss

sales I stores. factors have Great. your given confidence the nearly And how then believe what in mom-and-pop doubled since awareness, brick you new of seeing mortar, maybe at to your the and and Could And speak standout, the consistency Northeast. as maybe a the new in per other the that brand you you're follow door some into share, expanding market this terms to spoke of And consolidation? maybe just IPO. up,

mentioned think states to that unique target? just remarks, You to opportunity, the about growth there XX% new historical a help in prepared maybe relative few us

Jim Conroy

in right and March revenue had our these one year modelled would dramatically on certainly that they're million X or modelled three a modelled factually are went since you're at payback, public right, have we you're have stores stores million. and around basically, had exceeded we X.X And and year. average every XXXX paying And what we store million. Sure, new what X.X new new typically when back store we all opening at

in we we $X that Virginia and going coming what more So Ohio in our are be expected. and stores markets. store question, seen would and in opening receptivity, have brand we have than to new for increasingly very million We've awareness new to stores brand your emboldened we Stores capability. by and Virginia stores Richmond and opened fast brand around customer are in Pennsylvania, Beach new double

So well I has extremely become brand think known. the

to think that as a think taking really share I expanded credit goes marketing outreach. – the question within the around team also we've in you had I customer industry. moved our from

customers the One – getting haven't forfeited fragmented extremely we sales it we're was transactions from with of emerged learned most the our And by as customers. we Barn a open. things new customers we of model, calling remain of that it share a adjacent we doesn't the did haven't expanded already getting Western by first as look of right driven transactions and those believe the made to appear those And pandemic industry. market we're we so Boot customer customer. incremental at back. when any on we now, it we that is were Country we Just decision that the to we addressable accelerated are gains by doing base And top bit about the that's a then half an customer, of And driven gain

really pleased fiscal market guidance higher pipeline going the XX% stores, for XX do number we're XX units. expanded come across next outlined that last with new comp stores opened new Having open that's when quarter, out and a So fiscal and stores into the having with stores, execution our than likely this expect we'll board, a quarter, year. to next robust year, we expect we the

Matthew Boss

again. Great color, congrats

Jim Conroy

Matt. Thanks

Jim Watkins

Thanks Matt.

Operator

with Please question. Rakhlenko next is from Company. Max with Our question Cowen your & proceed

Max Rakhlenko

my question. on a thanks congratulations also just taking momentum. ongoing incredible for lot And Hey,

your your lock impact in question shoppers? be more outlook top to your in the which is whether were new does or just obviously above this how base, growth fiscal just then these future? and first broadly, is consistency to to in And just sort confidence continue ’XX So the any the large ability line that able in confidence a new to in revenue where significantly previously, ability back, maintain of won't and there it's we give be ongoing

Jim Conroy

legacy things the return words, in than customers of is slightly new mentioned And in customer, us. roughly are slightly Sure, faster roughly to customer. our their in customer. larger was again, the briefly average new it’s legacy line, actually is familiar propensity I shop one other my remarks, basket their and to than the our feeling to line In

new shoppers have So good the able how that again, about it now see be can we how that come new to we pretty measure with visits, feel long we've been sticky to are back feel going frequently and added we to customers takes repeat back. and they that. And come them and

As ongoing assortment merchandise shop. us continue about bit. years of got rodeos growth. base, plenty XX% can sort at expanded expanded come get of our we it ago. all for the frequency a there's year this right of haven't future kind we two we starting we last only back, and that. We're to see increase We've the and hammer still customer think to of think growth opportunities of We've had We to rodeo concerts against Houston

We happen back. haven't music come they're the seen Stagecoach all like starting lot and a outdoor of concerts to

the get resurgence are up we people not seeing try right. on this, in While we to hung oil markets, a

has business turned Texas positive. West Our

work resistant business flame turned Our has apparel positive.

we'll what back plenty growth. year. gotten too bit there's And us places whether of it's little say give get for to we've again, So early it a to continued this

give we mean, is mean industry. gotten at versus We the new growth have look grow But we've than growth when necessarily outpaced doesn't space, to that and other from think can our far higher theirs. we'll floor our back. you it companies a We in exceedingly public I here. our

Max Rakhlenko

a then And much you the other given your these for helpful. for. if you could ultimately switching How just Country, very brands could the lot. might longer potentially also curious Just any the Thanks they brands. that are scale? thinking how large Do get? term new the that's brands base bigger it five very squeak brands they top think they TAM just not today gears can about to into the in challenge be big Got interesting if exclusive bigger, Just given portfolio once customer these potential of

Jim Conroy

and astute of Country XXXX. little continue of surprised that's pure suppose example is the and share bit customer. BROTHERS Wolf be so side almost overall years Western Wonderwest doubt a the & there's more brands. brands theoretically brand, calling It's bit than But though a right. bigger There of brand a really new brands. Country. I or a to And have Cleo couple Western market than will very we three And segment market ladies five is market to Western we're The AND three those we larger as our big That's our question and launched it's we Max. our the fall a new overall will most old little will customer customer in a our as top Idyllwind The brands, years be in It's for if side, purely wouldn't Country. fashion that's now. was men's likely in a have could in that will in every in recent for a SONS that top I in the a XX the smaller the is mind than that counterbalance answer on and of

now pretty are the to XX brands we it. penetrate our years and larger in And think much bullish to we'll top about customer you into all So a base, in brands that exclusive well. our I now, as they're from extension couple say ability this

Max Rakhlenko

Great, lot. regards. Best thanks a

Jim Conroy

Thanks Max.

Operator

Please question your Steven Citi. Our with is question. from next proceed Zaccone with

Steven Zaccone

Great. for Good Thanks my afternoon, question. guys. taking

on was the margins outlook the quarter, in to give question fourth was more I color. for little just curious a bit First

in to growth continued on hold? has continue buying expect the SG&A January, you You to to spar were if leverage rate the in and to sited occupancy merchandise and sales quarter see would margin expansion fourth

Jim Watkins

see Jim fewer the in fourth we time. the period not promotions at Hey, This you is than we're the see But the Watkins. again, are typically providing QX. in Yeah. holiday this fourth in were and going Steve. quarter, doing? Yeah, what guidance How to we we're quarter, what

So as us as is seeing but saw as expansion, to that something model big robust, quarter. merchandise looking at while. you're and fewer look as growth, markdowns is and to would that Again, quite not margin in I stay Freight for out promotions. the third maybe we with a

guidance model We updated headwind, continued year to for little the points freight something exclusive of XX the more a points, high. XXX probably I this than that basis penetration. much points into maybe year full would From And I brand a fourth be the XXX the basis basis not margin our but or as you think well can so for And then exclusive in brand as penetration. And that standpoint. quarter. model as

leveraging going factor in a sales year to to not onset we year saw far As have that. ago looking at you you that at to sharp growth around little and bit so tricky, COVID leverage, look March as little ago occupancy two We're two as buying. model you as remember are, to the years period, buying and against something a be Again, bit going guide the decline two and to the tricky gets occupancy it to in the there. and it's really of back look

Steven Zaccone

positive turning I curious that kind fact business? much to a term color. a up The was for the been quantify January is of and a the way curious Texas how in alluding – I to back I comping is West year, that I at this it? was thanks you there Is resistant know guess that Okay, has look double period, I longer drag digit positive. on But just there. to had flame if past potential the even overall follow there's

Jim Conroy

Because because positive it's that And I is or the not while rate the Flame a you can it's outsized little merchandise a mean, And recognize X% drag the if an pull at or points XX%, I piece quickly is trend, now. can. resistant it's business still growing arithmetic to that going off if significantly growing XX%. such I XX number drag, Sure, it's do it's as right. low call of complicated, XX% is our a on digit it's business. fully the single as

like we or we the I longer call believe would more to while something think is really oil the that relevant. out reason connection no that is correlation

are in business. very investors our curious, that of still that's what's part happening Some

those So just of the in to a those out speak markets. But it becoming as smaller courtesy, the business of that and a our markets of to portion we are business. and call continue total health again, smaller kind does stores

Steven Zaccone

Okay, of of year. the thanks. rest Best luck guys for the

Jim Conroy

Thank you.

Jim Watkins

Thank you.

Operator

next with is Baird. Please Jonathan from question your with question. Our Komp proceed

Jonathan Komp

to become expect context more retailer. that's should on if Any I'm longer And national dollar a good wondering know perspective. Jim afternoon. the quarter you. talked on multibillion we follow sales than to up out? Conroy, term three and Yeah. take Hi, want ask comment? I longer to up something that say a the year last I scale Thank you to about looking goal horizon

Jim Conroy

Well, expect two year, years, it'd to run honest. billion hit three or XX% new less years, will be than two, I to think stores you we When any take growing four which be three think. with e-com, we'll rate, happen, growth in XX% current a I if starts faster multi-billion each than plus XX% to our

what the for it's see every But sales exciting more million high the have to – rate. to have have XX it's pretty to happens billion we'll same-store sales on So $XXX growth a now line. nine – last year years, we've And in in than crossed stores months. got the right. a added, first And

worth sales everybody's going have our XX% when But decade's March sales see of to more average. and growth in I back forward. be, think it'll happens we drivers again, a to So pocket, what on grow continue believe April. we have think And cycle we we waiting and growth we’ll growth or continue to

don't I to continue So of the business. we're out grow ideas to think

Jonathan Komp

strong helpful. been quite that's the Yeah, maybe merchandise question separate it's a while. really margin. for on It's, Then a

now, five in So aggregate. years four or maybe

years, you how you could then, rates, broader or And as that's at are much sustainable just risk So your the looking going trough versus structural as how forward? us drivers context, current and back lows giving you of the anything the the few look a back above today? give last merchandise margin far

Jim Conroy

centered Well, as address merchandise one. margin, that question on your I'll

still I ICR in holiday most when was the over basis said in points think margin and margin four recent forward. do grow basis We XXX a up added – least going right. up the so fact. things our just one as of in just pretty merchandise quarter, opportunities at And We've there’s margin we of proud XXX years. six presented of so you – Christmas points we points, period merchandise this quarter, year might to we frankly at we're, year we were think expect, were for the four that us

We the there's think continue promotions. fewer we narrative promotions. opportunities of still to reduce And with

now essentially to been We Sheplers we still margin launching continue of is continue boot grow our a even We, driver. opportunity get exclusive a online our our ability narrative the barn.com. with par that's line at online versus had stores. to so course think more margin around prices to in to business, with there's have The pricing stores. build drag on a And exclusive brands, brands, new which

that container right come freight are freight back been freight many increases, and us. headwind a passing those has down, While to see of once back come vendors we to prices expect along we our number

the last ability take right. an So online be a broken product I’d gives And to a further from say is size this ability ship to could stores that the driver. customer us assortment, our to thing

find seven store, more inside pair market that one that that into easier. it's a And that items some one much To in these to customer customer online in of in view and boots half come macro to store. have find You is into difficult.

a out at than think we actually quicker have we lower through clearance online discount the channel. by we our leveraging stores can and otherwise So would move of

years, over sure another coming of don't margin to sales I'm So points the the comments build I margin, out build right. of kind more back six we'll ideas of not we're next four growth. to but think about

Jonathan Komp

Thank color. you. That's of really helpful Best luck.

Jim Conroy

Thanks Jon.

Jim Watkins

Jon. Thanks

Operator

with next question. Tarlowe from is Our Please your with question Jefferies. Corey proceed

Corey Tarlowe

driving I ICR and mentioned this it You what more meaningfully exclusive on penetration fiscal color your the about quarter. that improvement penetration. to in segment Yeah, was from you points prior question taking basis ask number really XXX thanks in for I congrats my this you to year. estimates. as of provide that And in a expecting, it And it at as to growth relates for question. really a little the is sustainable believe brands wanted Can is what's were bit view?

bit So I that if could think Thank be very more little get we helpful. a color you. here, would

Jim Conroy

two question. No, Sure. to this. pieces Perhaps There's great three.

laugh, got have to points You've now going make. three to the I was because to remember I

at the a quality we is believe merchandise. standards is, or face, of leading its to developing industry, on absolutely price the quality product, and first we extremely developing we designing leader selling what be in same product, surface, The are not think on brands the its compelling High – and the well.

matter vendor the vendors to piece third to our quarter. brand ourselves second did thank truth party job outstanding to our during a get is I the best, lot. an But exclusive The the is sales branded of product for of best of trend. by want performed them performed working while holiday essentially tirelessly our the And the us support many trying

really modest them we store fund from associate a brands good out opens brands. marketing a store brands a new to money launching last from training dollars to able – supply launch perhaps turns into but product buy bring And our both brands at be available the had new third merchants amount that opened in than are it standpoint. totality. a chain, party shelf, the did product, to we're standpoint spend we piece, and the have not piece, because we sell to through from launch we when merchandising what third better on for in that rate We'll And move So them. only the the We'll life a up our of to to standpoint. those the

We’ll couple two year. why likely in exclusive when But and a XXX back I grow long-term likely of really conservative can't lay to So give we nice roughly get when that guide circle our of algorithm penetration. quite see year-over-year, points out exclusive darn to our a nicely of to – forward. I pretty while grown continue no all brands. basis half that it's next points continue we we’ll brands, guidance We'll our growth reason we'll are that going we think together, you confident

Corey Tarlowe

that loan. a remaining then down follow And up company great. on release its mentioned paid the That's the in balance term is, the you around had ICR,

So updates is, should are about be thinking we the any there a I how think natural question to as cash? of excess allocation

Jim Watkins

I'll that one. take Now Corey, its Watkins. Jim Yeah.

Just of is December generation cash holiday high I point that you want after remind to sales. the our

the the down in business payables. up our on reinvesting our that in back building stores inventory paying and we're and so And

investing we will usage that balance in growth along the the the XX% at call planning operate stock mentioned, And plan that with store there. We some point. of have cash stores to short-term, is the then And invest And Jim so and next buyback there don't cash. the for those be a that as new in in dividend that anything we're plans it or look or any use new another year, of and a business. this lines the in

Corey Tarlowe

Great, thank you very much.

Jim Conroy

you. Thank

Operator

proceed with question next question. Jeremy is your from Please with Hamblin Our Craig-Hallum.

Jeremy Hamblin

add I congratulations. Thanks all. my

So had my question side. do actually the cost to on

executed have guys line. well You top on incredibly

there's Sounds for here potential calendar like ton tailwinds a ’XX. of

think we of on cost but get about really to a been wanted SG&A, variability. also leveraging the business nicely the your sense has I As side,

of Do it's really a SG&A rate? higher, structural and see your did And little you is new here run this feel driven flexibility year Is continuing like you huge you although embedded much the to nature? of those that stores attract you're this online? of have? drive of your lapping If to two despite to are do being doing numbers hard stimulus. by how bit imagine just of much customers swath to some January, stack softening that you How kind what in in

Jim Watkins

Yeah. Hey, there. I’ll jump Jim in It’s Jeremy. Watkins.

we've get the I year, about took keep able talked we place, this an right up we working frankly, to, sales that and SG&A were need of the cost think with structure, and from the last We store. in off accelerated. and in the store labor, weren't hard nature employees our to variable during store labor demand

a particularly standpoint that customers drive the have hour last we've move been so labor sure cost this next to and as we investing we'll and last the from an we continue invest make to both growth. And into service quarter that and year our sales to –

is variable is big as behind your and question is that labor into next that our labor is cost, of the so and you’re and nature, so SG&A modelling a component largely into year, in our is out variable. QX store And which think what's that I

X% the around would spend a of marketing as historically that as over be we've quarters accelerated. we have piece able as quickly sales And our about store sales. spend the marketing. couple another other haven't we've rate targeted again, The And talked last to been

so our And bit to flex items going forward. a in can that more to right with invest are we'll But look and that we little quarter were that size third future. we continue the able two sales than into as those

Jeremy Hamblin

possibly sense seen. just you line, Thanks. appears Great. basis? on the as the seeing whether a to less give even of not more most or for not although us whether you year maybe And on perhaps what a a there is that as out a follow they're you've up, year holding then also competitors quite strong strong or pretty Can little you're it little a from us results, promotional feel promotional, like over likely, industry seeing as or they're what getting

Jim Conroy

it's it's industry a there's buy track We I Work total from, retailer naming reported that many of from, have wish your a take boots few the I growing, XX%, within we what point And I – XX%. while growth in it than more I we're can change And And promotional one the from. more on sales buy all, we ours or yesterday. industry growth. just but or share however, an public that that's is think do that true. doesn't that not buy XX% and that thrown companies Their been well we I that tracks Western not that X%, just are all. rates the less But at have it them boots at into don't per does names, denim take you we stance fast this. And feel give must been industry, numbers hard is promotional could and of rather I think promotional. whole been any industry growing. if being admit bucket

people I our have to really think credit almost growth, industry merchants we outsized showing showing year-over-year into base, quarter through hiring call stores the for And the up I holiday dramatically is feel the managing the team quarter, everything customer we're team else from growth. the seasonal to adding but are obligated modest our for who gotten inventory position and and and hires. fourth COVID the outs coming for where

a our stance in think tend case, this a towards I other have take recognize try lot companies public So to what to the we outpacing our we that reporting. growth in to But space humility. are is by

Jeremy Hamblin

best and Thanks. wishes, Congratulations, guys. agreed. Yeah,

Jim Conroy

you. Thank

Jim Watkins

Thanks.

Operator

Our next question your Please proceed is from Sam Poser question. Trading. with Williams with

Sam Poser

taking handful Good I've here. evening, you for questions. got guys a my thank

tried to to Just you keep run moment a how up SG&A marketing, and on question outpacing. ago, the but about you want back it about talked sales and around X%,

sort the the driving bump question your about So execution egg? or marketing, Besides just is chicken as comes of the what in about talk sales? can stores, incremental first is team talk So the you sales the that you I follow marketing to – results? to afterthought, strong of an the it mean, like that, sort you almost very because marketing and as

Jim Conroy

that that's so know Sam perspective. I say had Sure. the went visibility such benefit get customers contemporized and we would brand, everybody story. the we've to you we've for great brand, changed from been XX an back we the XX it But the been brand, extended new reach evolving brand well we've if of elevated a and of months, to ongoing consumer brand our media and the into our the you on call, mix

sales in been sales has customers the same-store again, our to And by it's transactions accelerated of least driven or XX half of years brand. that has months, half roughly new been customers. nine where once Barn business the that while growth months last that of is in due new growth, Boot now, half our part, So same-store into our growth of roughly several have addition been driven typically the at massively

spend the it's or increase. didn't sales to and up our X% can the to if that you one come take But chicken for tell we know out don't I I hoping egg. six, So marketing day

continue added if sales then year last spend We we'll our a almost became dollars every spend. to bigger we're sales more more what is continue budget in But which outpace much outside and X%, X% year X%, just and of X%. our at than And come and this continuing became we’ll to with And spend, that at happened year. probably more to budget year. we every on less sales efficient plan number COVID more

Sam Poser

great. few I've a got Okay, more.

Okay.

being So about April important. and you March talked

on you're come and sorting guidance. you're those can you the me read by and through are back And why time we March and still in QX that that unsure all questions that April mentioned, not stimulus so still important were is because very as them. the Let ’XX of go that's about and year, for festivals, impacted sort just are rodeos the guiding it last and period. most out

stores growth, branded Ariat – taking exclusive happening it look how but about lesser of QX. Is so I anything year? your prevent you sequentially Next the should to peak we said lastly, business. QX increase an differently tends year. quarterly take think assume then gap there question, attune be sort boot, vendors, that so, on but we that your sort on take Also modelling that right you opening a on some Or a boot they're nationally going this XX% the then of price increase widen annual your – you increases, in year, sort to a margin about next ago, store talked Ariat help if price would price next – to a second like – – then and you you the would on of if year? from host talked equal take can increases, basis brand and should and this they about then a XX said you XX%, X% QX And gross now

Jim Conroy

those Okay, questions. step through so let's

the blamed business. frankly, we – an is earlier business for you calling into to next a fiscal the we fourth our what with still since for to business XX and this we saw call is in our and timeframe. will on numbers. the the in the of a January Until want in is plus March weeks, look right. once in fiscal said year, first, about just look, that roughly again, we project we weeks and constant. We've to out year we'll to And end got be reason of out cycled good basis We're – business have lifetime to don't lay just we're years irresponsible ’XX. quarter, And – like next pretty looks get well just things we be guidance now The as been and a only and May April, for of know, of as back called XX it year. said just business on two that versus and we spike cetera. April feel And next to we spike business our reflecting our when try basis, was bit to of April, then would see et one quarter, XX% which up dramatically, be to on call. we stimulus ascribed, of cycling what said, like cetera. this cycling up We thereabouts, all a ’XX we our two was what et have dollars our said, until that third demand our March second call, solid continues remaining new it QX closets, of kind to March really in we're visibility absolute we that's is, That each hey total essentially And But just XX are into year's ago end And out seen We extremely call business. a week plus dramatically. the going in is was or can stimulus refilling business came. sales QX up for then our question pent strong.

April So that's piece. and the March

the piece. store count On

units. XX% Our new algorithm term is long

we will to solidly that We signaled that hit than guide year. that next had this pretty year. higher We expect

model to new get fine. for want guidance you XX% stores when We'll our refine QX that's if So next call. that year, we to XX% or

of In around – then price – from you increases increases question asked a terms cost vendors. to us wholesale

pretty are pass vendor, that most a But markup. receive we cost We a cost most in there and this. if straightforward cases standard increase in to have model exceptions a from some we increase a along cases, with

So our margin we to the maintain decision have taken rate.

in pass occasionally that vendors some to are just going exclusive freight of whatever as really increases not some we're there markup. re-price that exclusive some might with of well, reason, Because we our the of and bigger to of managing seems them job a have doing that cost as much brand the team, third might for advantage increase managing permanent, some there our costs. So seeing brands. We're transitory, much party a cost store along but to them of increases, goods our a costs be brands. has down result. as done as be better We're seeing cost as job better not some not our And

of is be party all that our brands. So of third rate on our maintained will result margin

up. goes price the Sometimes

advantage but And model, exclusive we're to costs of we're an we does sometimes hard those have same to our some really working the brands that keep give – because down.

Jim and rent Watkins. Virginia, from rate, over turn will versus was I and the on to question QX West last margin gentleman gross QX Your QX that

Jim Watkins

have right think to be in similar. QX’s I Sam, general, tend the pretty way. QX that QX, And Hey, you're gross and margin about thinking rate the

is growing As not the and about increased about to that you're think about question, so right moving speaking business but talked looking up I The one just pressure think and providing piece would way. it we there labor the thinking in you're say, would to support there the some your to we're going answer that generally having look we forward. the we're at way. the But rates I and guidance, wage I QX, headcount add DC right are I thinking

Sam Poser

very much. Thanks

Continued guys. success

Jim Conroy

Sam. Thanks

Operator

proceed question Keith next Piper Peter Our your question. is with with from Sandler. Please

Peter Keith

the towards Store Hey, thanks, for everyone growth. here me taking end.

above rate that of XX%. run can kind you out you're teasing So

that think than think for XXX, the of of you're target looking a you a might has is, might years. you The question you timeframe store kind if heart as be? could been appropriate with do at which what hinted what the a a a I be where could maybe, you're reassessing country, my more more also couple you've target share of of street target, total

Greg Hackman

do the provide when be and update think sorry, is TAM to we I’m [ph]? question Peter around, count for an on we'll able store

Jim Conroy

you're would you, some Greg. our be you and went numbers size see, we first outline bigger when than increased we met QX thank we we started, we're The certainly plan right I to count. store now we that where think on are But call, have work that public. that to signaled when TAM doing quantify

So our QX I to would call. just stay tuned

Peter Keith

Perfect.

certainly getting, all question it's Second customers me. an aspect With been exciting new for you've story. the of the of that

the customer capability. marketing You segmentation had

segments? four And which identify if the your think growth? coming in the what and you So do you're new the them are so, capability you four I'm wondering that of into customer is, segments most to of have one customers put do garnering

Jim Conroy

in growing, might And – of and just as that is buy as market you customers to customer while our gets Country. determined The the by other transactions. is thrown all are Western terms out, the are only segment. what rate they those underlying faster And or our do growing expect, sales ones growing that to customers, and like segments. initial belong business all Wonderwest of will multiple and we're then with and really are in our few is Just we So growth segmentation thrilled in to the of growing be segment they starting ones entirely pointed newer, our trend, legacy the many slowest their and first count trend new segments there thing are of that we almost and

and product, whatever. direct mail, So a little to or Western of marketing, they'll a Work they bit they'll tend of bit – or email, Western whether Work if and little buy that's get

years segments. we But the faster. Country it's And of of opportunity couple not really ones, not excited they're of the lines we're, And that because that's the has segment crystal the the we've think the course aligned things smaller newer very done growing a – a big for that between about very to are of ones segment. been over and last each clear us. to lot see So

Peter Keith

Okay, sounds much. good. so Thanks

Jim Conroy

Peter. Thanks

Operator

proceed question is Carden Dylan Blair. your question. with Please from Our next William with

Dylan Carden

in you the I'm you the lot. correlation spoken to just of strength for the commodity high I of you're of inflation, customer, of the curious, ranching, us exposure tend newer region, to Thanks. of agree to kind last prices generically kind as more the kind some identify is as kind were people But can of Jim, coming to just think Hey, company. category, you them of any then spike that sort But come time and a as those way sort you to I'm inflation? wondering, thanks by agricultural obviously, here maybe industries, degree of prices to sort sort into by store? have historically you of patch. a that high, is of seeing, there of to the oil that who about the of the And attribute the kind overestimate fields. have in saw to you in farming

Jim Conroy

Sure.

We've XX On barrel or recently in is turn so, broad it the a higher the been while that wasn't the the growth. months of of last based up. oil the piece. than we it's seen oil saw price on until And such business

been was West correlates on negative the but Texas the nicely oil don't business of business only our chain, every virtually our was business we've last closely that part XX oil. And business was lagging time that long positive. literally saying our the months a not we price believe our So up over still and for FR of when with

it's be with company, point, used forward, become it'll years our resistant an in example of to still line sales double on digit But total going even growth more and flame ago, the the script, business see we'd of comp pretty think two on not we years the a at period. do two ago on perhaps – in versus some our solidly January part a apparel, work tailwind. our rest like versus growth I So even, get comp that drag or significant

sort of of way a In customers, have great them demographically. describe new terms I to don't

do that in significantly seeing the Western some Although that we are fashionable significantly. are Idyllwind base adjacent where know growing of more ladies is we they customer lines apparel like growing

customer to have ball footwear, T-shirts, that's Country We the after merchandise forth boots like put really what customer and as Cowboy that are this go not seeing Just graphic nicely. caps, growing we

we get once information demographic a more from we'll So that. some perspective, share

some with which that database we be we’ll have a information. where done party, there append the to we We have do yet. then But to work share able third haven't to

Dylan Carden

And I meant side wheat, I the on wasn't corn, impact I was all Got having be you sorry, and decade I'm of agricultural business. on clear. commodity if they're said just sort that curious soya, spiking I probably When the might highs. an prices. of some parts

Jim Conroy

more that spent tone. a companies benchmark growth exact our try out external it we trying again can look, time factors. to to would start benefiting other trends. And heavy how higher. Again, sure is humble the with dose sometimes of a Because against just to having of amount point humility, a their with But always almost to try our is. tease XX same much I'm fair that of growth from be business higher, we is times we

to there's Analytically or I out credit than or the in executing or I on can marketing merchant commodities no stores better trend and team to. Yellowstone. fashion other actually for give to the blame there. can't team oil the have get I answer So it other companies some

Dylan Carden

question, Thanks, cutting Costner’s question. Jim. appreciate care great. that's No, You're Kevin not guys, second check. the Take

Jim Conroy

you. Thank

Jim Watkins

Dylan. Thanks

Operator

Stephens. with with Nelson Rick from question. proceed is question next Our Please your

Rick Nelson

up Good Thanks to follow on brands. afternoon. exclusive a Like lot.

six got exclusive You've brands.

in the Now, you're ones four new spring. launching

speak those to that these the new could are to the and you targeting segments potential ones relative of first six. next If the four

Jim Conroy

Sure.

but baseball Western music was cowboy first listen we hat fan, maybe we rodeo a look, did a casual might be isn't we're calling going country person to artist. that the Just said, So this and this Country got boots customer to wearing thing we've and and

one up two and after segment. So we women that's one brands, men for with going for Country this came

look at industry, modern & we as spectrum we in extremes. a customer. side, you We other that Western more and two we give had years. I more for more of Wolf. to ends multiple specifically a And On the side AND the then And men's There's is SONS you the against. dimensions look, if are is a BROTHERS the third rodeo ladies Cleo closely, customer XX aggressive, brand I'll isolated our we've the a customer, called looked there younger, put Western that the have brand mean customer fit, and somewhat called brand want party brands on to at customer said, look core our really you

fit, and working on launched has traditional that for more XX. the older ranch. is we're colors, a a brand living that tends styles and Ranchwear. been And brand And consistent that mature, Rank traditional ladies. developing, there Then Blue and more is the to modern basic less customer called i.e., be brand traditional, more For there's men's more there's fader more customer needs called

that different when are it's BROTHERS dimensions all together, Cleo in So Wolf, the put already we Rank customers all believe store. XX, AND and you of and Blue after going Ranchwear, that SONS,

Rick Nelson

Thanks Are now more about working per competitors store, to getting inventory XX% is outsized industry? think ask up Jim. do your like you're product inventory, back the you for or you Also I’d for getting that allocations? think

Jim Conroy

spot a in an very standpoint. good we're from think I inventory

Our line is now sales still up in trend. more inventory our in – more lagging, with line but

As and the that some it stores, relates it stock started we party or our more exclusive gaps we filling to brands that to shop, the due getting we competitors, for are. as we're have or have due – fact that holes, in are Whether certainly more brands priority, to appears just other that's they third aggressively. we than been earlier buying

outside and for what Our our they're sales the feedback empty give even there. shelves in us industry. team that seeing competitors space on seeing out constantly are they're way will directly pure Western competitors And

is is the we're is think well, think a the the those have that sales product just size the All that do great, happen great. our available I so that think have So strong I wants purchase. marketing we part things, I think also day reason same of customer been in executing the product for I to why

Rick Nelson

Thanks comment. a lot luck. the Good for

Jim Watkins

Rick. Thanks

Jim Conroy

Rick. Thanks

Operator

question from Sole next Our is proceed Please question. your with with UBS. Jay

Jay Sole

have you Great, so thank two much. I questions.

on real over potential can maybe you productivity? investments you have Are you brand to of you move the opportunity different this opportunities real have where work Jim of past lot the put estate, store the the higher you've brand given you've hedge before lot brand. you've and the considered fact the the And how to a essentially elevate count, but that into are take of in call you higher you quality types where your the in economics places seeing thought estate about that how the advantage a to improved And year made really First store done talked plus. to talked much wouldn’t and about is done growth the can store stores – that when stores what potential? the in does about mean a

Jim Conroy

lives XX,XXX to answer going The I'm in is are or regional you hopefully We're employment. and in They're that horses centers other customer. I or et working or outside. ranching foot type conflicting. opening XX,XXX cetera seem collar square overarching stores no. some around in or customer hope works doesn't an core give that our construction And with answer, or blue farming and

getting or We with done a difference, haven't better that seem contradictory better we location meaningful are our pretty in is to to co-tenants, going is, visibility driving are street on want the to high co-tenants be and I this always to have very center's consistent hey, few say, for from almost more haven't some that said, way exceptions. than – spaces, us. work. would high part the one We to had we the with and we're their are to end and go might out, themselves get The in we But our customers past. It strategy. needs easy mall

we from and off gone sporting So we model. customers believe some we And home stores, where syphon we'll with few the look oftentimes at exceptions, chains off haven't can very improvement traffic share of that or goods them.

half open at we the the store against have Broadway let's model, and model well. out now, on a that been for But across not it all, is years downtown stamp We it country. seven and a have execute a extremely Nashville that and team just that's working is direction does the forward, to going

Jay Sole

it. Got

additional Okay. I The elaborate points leverage on maybe on would the basis XXX thought think in think, buying the there past, would that? and number, you have of was you. sales Then maybe the been the Is on to in point. can quarter. Can same-store follow up Thank we up any higher. leverage that? on was have the on XX.X%. strength occupancy color based I given sort the trends that Maybe you give in

Jim Watkins

Sure. like been COVID. Jim and It’s Jim Hey, others, to chain shortages already. But Watkins. this supply Yeah, labor Jay. has alluded battling and we've

the a XX% that found. we effort to support And so to growth made we really sales of up pay conscious

with year increasing QX, centers there some distribution of we some that wages made things those labor was an center chain, later normally in consciously. we goods employees, the those receive and arriving to what we and into customers the did third that of would our distribution received into couple QX, in a So have the investment and hours our goods more with to into supply attract we Similarly, the them in which retain cost and pushed receive deliver goods of those quarter. stores so our the to our could

have while been we're would as little And we the expense come we have believe far rate from a it because so from the the saw grew standpoint, that sales. leverage And, of so higher maybe thing what driving could sales. with occupancy, an thrilled earnings that outside buying of at of and as

Jay Sole

it. Understood. much. Got so Thank you

Jim Watkins

Jay. Thanks

Operator

next question. Mitch proceed question your Our with is from Please Kummetz Seaport. with

Mitch Kummetz

thanks questions, my Two for Jim for Watkins. first taking Yes, questions.

that the on first us the Did and sales on and a weeks, of think – this you LLLY year, have given first for So happen COVID of the and we really those normalize of to have have about an quarter Because years balance things. I you all weeks for use stimulus and guys QX to go back LY four kind three rodeo basis? the think to LLY. and as

So was have that. I might hoping

Jim Watkins

number You're three January trying out figure the years to from ago.

Mitch Kummetz

as that the a balance again, growth, growth trying three normalize far year have to basis. back or quarter about extraneous either number three out factors. years the figure of given the helpful Yeah, I'm go that I kind think you the all be year the that to of Because for on ago three think would we to these

Jim Watkins

don't No, number handy. Right. hear I have you. I that

year at. XX% quarter think the the really sales I looking we're consistent really an how at third we're from plus we're is, on way that and acceleration it is seeing, two looking the basis, the

the So rate. try the and we're sales I’m a But two that seeing that run from out we're pleased little back years what standpoint again parse dollar and in of ago to bit.

Mitch Kummetz

then to And on Komp’s follow question earlier. Jon secondly, the on from up margin, just

pre-COVID. BPS I you're at XXX XX.X% up that's margin, look from if LTM So

is think the from like back up taken into hit how less freight benefit As we about much how can comp there more that margin can you're in much think on exclusive incentive But elevated you've in structural, LTM drag that changes maybe about those to happen do that improve line structural we the what with think and you sort taking profitability on you would And that you're of picked margin versus to of elevated all then I the normal items? business? business the the brands. getting addition, become what's know versus for – margin you've e-commerce when we

Jim Watkins

Yeah.

the on versus versus EBIT your did on e-commerce a stores, question prepared remarks in an not two Jim about that. But XX% the part his about sales a growth the think e-commerce first talk detail the on and a growth of year So from sales outside and provide we're we that basis to EBIT the growth. saw XXX% it going standpoint I

number, right. that Forgot

there. seeing growth nice, we're So

Mitch, was question it your again, sorry, me remind SG&A? part second on The

Mitch Kummetz

back is so would normal from business level relative like performing. there's relative just much comp imagine what for to pieces. those I elevated some there's, normally – just be, into well we a that I'm would I'm whatnot, would well, those they – curious kind or Well, how maybe wondering probably issues, is that how imagine I to just a given your normal incentive are obviously, can dollar on from a based of kind the standpoint – freight pieces elevated of levels,

Greg Hackman

I its Greg. chance a too had much. Mitch, haven't talk to

jump going I'm to So off.

store scheme store those compared there the sales. the is got I dollar it's whether bonus. in are the small bit a to or the us little increase of You're team, right, things, But think comp, associates in elevated higher support whether sales relatively

So minor. that percentage is relatively going to be

half can invested think I really if if put paper. could pencil I I I the to CFO, We of AMs, so this not The about just bigger think right, under get we now. you talk first were year, in about the store when bodies. was enough labor,

labor the rate on year the basis. frankly got both first to you of that is, really that leverage a marketing we of more and the half tailwind so And a in quoted TTM nice store in EBIT

think we're which next unpack on of when believe some you or is XX% said, the store trying Jim's, sense XX% around seemed and But in rate line kind marketing way targeting that both the back anchor think right. is course, smaller So starting point of top kind an And the of to opposed tailwinds is assumptions store it and of the to we disaggregate makes year to normalize. these EBIT in for reinvest to I best them a what rate about as or and headwinds. that things the of dependent that, reasonable labor to and like comps, to

Mitch Kummetz

Okay. Fair enough. Alright and good thank you luck guys,

Jim Watkins

Mitch. Thanks

Operator

question. is Our your John Benchmark. Please from next question with proceed with Lawrence

John Lawrence

guys. Congratulations the on Great, quarter. thanks,

Jim Conroy

you, Thank John.

Jim Watkins

Thank you.

John Lawrence

– of step bring that done Self-reliance, customer economics, their look a the of you more when just edges lifestyle around a bit staying with this you new the speak back the about that touched you've Would way but helped Has that me the these lifestyle you all let that's little in online? has anything COVID. things – store activities of customer, and changed the those can all a But ask new that home of at different growth, new somebody’s wise into the the or marketing of customer, it. all store reached at customers to now in often?

Jim Conroy

is base core The eye outdoor office and I more already. worker. customer be hard I They that tends to mean, lifestyle tend employee is working COVID. something be a collar from our home. now to in blue of find to mean, of it’s specific not to living our bull's customer an working

with Now, from casualization. we're said probably that benefiting bit a

increased sizes from specific have companies less We're travel. air probably benefiting camping written bit a a people's but so speak, COVID. and waistband, numbers called has about and can’t thing we another out. that Some assign to changing other There's lot to, been hiking during

number back our out our be all But circle staff I from our is again business every perhaps been again, and we’re gone We to customers. stores. our outlined of bit, these macro able to, there. chain. once all other We think step things feel it So outpacing omnichannel other almost product transformed our virtually we a helping certainly might might that's also few gotten out broadened years capabilities. things new to little And things completely that We've We supply executing that while when We're for you a back on assortment. be of benefit. business managed that the now. helping seems a retailer these a I obliged

macro XX are the one knowing And macro an of over getting LOY on period. XX% growth it weeks collection to want the on factor even consecutive calls they blame in can't listen smile here I for that that So office, credit these the them factors. deserve of and for I folks or a of in some

John Lawrence

congrats and thanks, luck. Great, good

Jim Conroy

very you much. Thank

Jim Watkins

you Thank John.

Jim Conroy

call thank look today. And on you our fourth the quarter with joining all We call. earnings for forward everyone to speaking you

Operator

may at conference participation. today's time. Thank concludes you this and your disconnect for This lines you

Boot Barn (BOOT) 28 Jan 222022 Q3 Earnings call transcript