Boot Barn falls as Spruce Point discloses short position

Boot Barn Holdings

08/05/2024 14:53

** Shares of footwear and apparel retailer Boot Barn
Holdings  BOOT.N  fall as much as 4.16% to $98.52 as Spruce
Point Capital Management reveals short position
    ** Spruce Point sees "40% to 50% long-term downside risk to
co's share price and expects price to underperform broader
retail sector"
    ** "Co's rapid expansion of physical stores diverge from
industry norms, masking escalating competitive pressures," -
short seller 
    ** Spruce Point is "equally concerned by leadership chosen
to support and oversee CEO Conroy"
    ** Boot Barn did not immediately respond to a request for
comment
    ** Reuters could not independently confirm the
short-seller's allegations
    ** As of last close, BOOT up 33.92% YTD

 (Reporting by Annett Mary Manoj in Bengaluru)
 ((AnnettMary.Manoj@thomsonreuters.com))