{
  "docId": "019dd923-622c-750b-8b99-8051f14c9865",
  "docSlug": "3f714c68343e",
  "documentTitle": "Boot Barn Holdings, Inc. (BOOT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-05-08 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 35,
  "pageCount": 89,
  "prevPage": 34,
  "nextPage": 36,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 24,
  "notes": "Uses a red dashed box to highlight the cessation of growth reporting and the decline in BOOT's SSS.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "comparison_table",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-8051f14c9865/35",
  "deckHref": "/decks/019dd923-622c-750b-8b99-8051f14c9865",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-8051f14c9865.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-8051f14c9865#slide-35",
  "components": [
    {
      "bbox": {
        "h": 0.07,
        "w": 0.9,
        "x": 0.05,
        "y": 0.79
      },
      "kind": "callout",
      "text": "BOOT's Same Store Sales trajectory and then decline largely resembles the western wear trend illustrated by Wrangler.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "11afb474-a8df-4602-9c41-bdff25d0de8b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Same Store Sales: -9.7%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-fb91-749f-a6bd-dd00b5f4d632",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.96,
        "x": 0.02,
        "y": 0.17
      },
      "kind": "paragraph",
      "text": "Kontoor Brands (NYSE: KTB) commentary for its Wrangler western wear apparel business has provided valuable insights into BOOT's sales trends. KTB which owns the iconic western brand, Wrangler, has seen its growth profile likely stall thus far in 2023.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a927f444-8b97-4371-b4cf-b39ae6c7aec5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.4,
        "x": 0.02,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Source: KTB company transcripts (1) 30% growth vs. 2019 (2) \"very strong momentum\", but growth figure was not disclosed",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e72e75b1-19f7-461d-a351-db8e1695dca9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.96,
        "x": 0.02,
        "y": 0.63
      },
      "kind": "table",
      "text": "BOOT Same Store Sales",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1108413c-699b-420e-ba81-b843df98be18",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.23,
        "w": 0.96,
        "x": 0.02,
        "y": 0.38
      },
      "kind": "table",
      "text": "The Wrangler Brand Growth Commentary By Parent Company, Kontoor Brands",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "83e79fc3-e47c-46d8-9905-a8c26bf8c15a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.68,
        "x": 0.28,
        "y": 0.03
      },
      "kind": "title",
      "text": "Wrangler, The Iconic Western Apparel Brand, Growth Trajectory Has Likely Stalled in 2023",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8f58fdf5-30b1-466e-b12a-2b881103338d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "expose_contradiction",
      "slug": null,
      "matchId": "eca2d5bd-704a-493c-9dc8-e100d43d0bd7",
      "evidence": "The slide explicitly links the decline in BOOT's performance to the lack of positive commentary from KTB, framing it as a correlation.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}