Boot Barn Holdings, Inc. (NYSE:BOOT) Q3 2024 Earnings Call Transcript

Mitch Kummetz: Okay. Could you say what your Ladies’ comp was for January or for the first four weeks of the quarter?

Jim Conroy: In line with Q3, maybe a little bit worse, not — with the least functional of our businesses, certainly somebody making a special trip during difficult weather to go by, so [indiscernible] a slight erosion or deterioration sequentially from our Q3 business.

Mitch Kummetz: And then I guess lastly, just given your comments around exclusive brands penetration in the fourth quarter and how that business skews to the ladies, the fact that you expect the penetration to be down, does that suggest that there’s going to be a bigger delta in your performance between kind of ladies, and non-ladies in the fourth quarter than what you’ve seen sort of year-to-date, is that the right kind of takeaway from those comments?

Jim Conroy: I feel like I’m doing a math problem with my son. It’s a fair hypothesis, I think — the reason we called it out this time is because it pushed the penetration from positive to negative, right? If you work back to the most recent quarter, we had the same dynamic, but because Exclusive Brands still grew 3 points, we — I suppose we could have called out that it would have grown — I’m making this number up, but 500 basis points rather than 300 basis points, but for composition, we just didn’t because we didn’t think it was going to raise any eyebrows. We had a feeling that when we called out that Exclusive Brands could be the decline from a penetration standpoint in this particular quarter we worked up the math. So I wouldn’t read anything further into that other than the fact that because it pushed it to decline rather than an improvement in penetration, we thought it was important to call out.

Mitch Kummetz: Okay. Fair enough. All right, thanks, and good luck.

Jim Conroy: Thanks, Mitch.

Operator: Thank you. We have reached the end of our question-and-answer session. And I would like to turn the floor back over to Mr. Jim Conroy for closing comments.

Jim Conroy: Thank you, everyone, for joining the call today. We look forward to speaking with you on our fourth quarter earnings call. Take care.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.