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  "docSlug": "3f714c68343e",
  "documentTitle": "Boot Barn Holdings, Inc. (BOOT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-05-08 00:00:00",
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  "pageNumber": 29,
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  "density": "overcrowded",
  "nDataPoints": 10,
  "notes": "Includes a red 'X' over a historical chart to emphasize the removal of data disclosure.",
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      "kind": "callout",
      "text": "BOOT no longer shows the slide below or reports customer growth.",
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      "kind": "chart",
      "text": "Customer Growth chart showing active customers from FY16 to FY24 Q1",
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      "text": "Active Customers: 7.5M",
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      "kind": "paragraph",
      "text": "In Q1'24, BOOT prominently featured as its third slide its “Customer Growth” citing “Active Customers” using the B Rewarded Loyalty program members... BOOT no longer shows the slide below or reports customer growth.",
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      "kind": "quote",
      "text": "And just finally, wrapping up, what makes Boot Barn unique? We are truly a lifestyle brand. I think sometimes we're kind of grouped in with just specialty retail in general, but we are truly a lifestyle brand. We have an extremely loyal customer. The vast majority of our sales go through our B Rewarded loyalty program.",
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      "text": "And just finally, wrapping up, what makes Boot Barn unique? We are truly a lifestyle brand. I think sometimes we're kind of grouped in with just specialty retail in general, but we are truly a lifestyle brand. We have an extremely loyal customer. The vast majority of our sales go through our B Rewarded loyalty program. — CEO Conroy",
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      "kind": "source-note",
      "text": "Source: Q1'24 Supplemental Presentation, Aug 2023, Supplemental Presentation, May 2022 (slide 13), Red X Spruce Point emphasis.",
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      "kind": "title",
      "text": "Why Is BOOT No Longer Disclosing Active Customers Who Drive The Vast Majority of Sales?",
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