Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/528948
and Ugg. The boot lines include high- end labels like Dan Post, which sell for upwards of $400 per pair, and Lucchese, resh off a sUccessfUL IPo LasT october, Boot Barn holdings is flush with capital and going forward with plans to boost its store count across the U.s. The Irvine, calif.– based footwear chain, which has been in business since 1978, oper- ates nearly 170 stores across 26 states and says it is now on track to expand that by 10 percent annually over the near term. The company opened 18 stores in fiscal 2015 (ended March 28) and has plans to match or exceed that number this fiscal year. recent openings include stores in Bristol, Tenn., Burlington, N.c., Longmont, colo., and Norman, okla. Boot Barn boasts of being the largest and fastest-growing lifestyle retail chain devoted to Western-style and work-re- lated footwear, apparel and accessories in the U.s. Boots account for about half the company's sales. among the dozens of brands it carries are such names as cody James, harley-Davidson, Timberland which cost at least $600 per pair. Boot Barn also sells related merchandise: jeans, hats, shirts, outerwear and accesso- ries for men, women and children. "We see this as a very attractive long- term growth story that could go from about 160 stores to at least 400 in the U.s., and potentially more," said Peter Keith, a senior research analyst at New York city–based Piper Jaffray, which currently has an overweight rating on the stock. "We have a very favorable view of the company and the growth op- portunities," said Keith. one reason for that confidence is that Boot Barn serves a large and growing market for country- western–related wear and also on the work-wear side. Those two segments combined represent some $20 billion in annual sales and an annual growth rate of about 3 to 4 percent, notes Keith. F on the march Boot Barn is on an iPo-fueled exPansion across america By Beth Mattson-Teig r e t a i l i n g t o d a y 14 S C t / J u l y 2 0 1 5