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  "documentTitle": "Boot Barn Holdings, Inc. (BOOT)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-05-08 00:00:00",
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  "notes": "Uses a 'CEO quote vs. Data' structure to highlight inventory mismatch.",
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      "kind": "callout",
      "text": "86% of men's cowboy and 95% of workwear boots are >$100",
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      "kind": "callout",
      "text": "78% of women's western and 86% of workwear boots are >$100",
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      "kind": "callout",
      "text": "CEO Conroy recently said that the average customer is spending $125 per shopping trip. At that average spending level, the customer could by 1-2 pairs of low priced boots. However, a check online indicates that approximately 78%-95% of the boots are >$100 which suggests that BOOT is stuck with a significant quantity of high-priced inventory that is not selling.",
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      "text": "However, a check online indicates that approximately 78%-95% of the boots are >$100 which suggests that BOOT is stuck with a significant quantity of high-priced inventory that is not selling.",
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      "text": "Old Gringo Women's Jackpot Short Embroidered & Studded Western Leather... $565.00",
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      "text": "inventory pricing: 95%",
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      "kind": "quote",
      "text": "Our core customers continues to come back to us and spend about $125 per shopping trip. They shop with us 2 or 3 times per year and come to Boot Barn because we are the authority for this lifestyle in the entire country.",
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      "kind": "quote",
      "text": "Our core customers continues to come back to us and spend about $125 per shopping trip. They shop with us 2 or 3 times per year and come to Boot Barn because we are the authority for this lifestyle in the entire country. — CEO Fox, August 4, 2023",
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      "kind": "source-note",
      "text": "Source: CEO Fox Interview, August 4, 2023, All Men's Boots, All Women's Boots",
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      "text": "All Boots Online By Price (Women's Western/Work, Men's Cowboy/Work)",
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      "kind": "title",
      "text": "BOOT Appears To Be Stuck With High-Priced Inventory That Isn't Moving.....",
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