Waiting For The Perfect Fit

While the broader market indices sold off on Monday, shares of Boot Barn Holdings (BOOT) bucked that trend by rising a modest 0.33% on relatively light trading.

Shares of the California-based retailer closed the trading day at $18, or $0.06 over last Friday's closing price of $17.94.

Interestingly, the stock price moved higher without a corresponding increase in volume.

Monday saw more than 179,000 shares trade hands, compared to the company's 90-day average trading volume of just over 336,000 shares.

Now, Boot Barn has retraced most of its gains since reaching a high of $23.12 on December 8, 2014. But the stock is still up since going public on October 30, 2014.

And it's easy to see why the stock is up from its IPO…

Boot Barn bills itself as the nation's largest retailer of western and work-related footwear, apparel, and accessories. It sells brands such as Wrangler, Shyanne, and Miss Me at its locations throughout the Southwest.

And a look at the company's Q2 FY 2015 reports indicate that the company has a bold plan to grow its market share – despite widespread headwinds.

No Growing Pains Here…

At a time when many retailers are slowing their growth plans, Boot Barn plans to magnify its reach through acquisitions and new store openings.

It aims to increase its store count by more than 10% annually for the near future, while also beginning its long-awaited plans to expand nationwide.

Boot Barn has expanded mostly through acquisitions thus far, purchasing RCC Western Stores in 2012 and re-branding 29 stores in the Midwest and the South.

In 2013, the company took on another 30 retail outlets when it acquired Baskins Western & Work Wear. Baskins operated stores primarily in Texas and Louisiana.

But, in addition to its acquisitions, the company will open 17 new stores before the end of its fiscal year at the end of March 2015 – bringing its total to 158 retail outlets in 24 states.

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