What Boot Barn Holdings, Inc. told the SEC could break it.

Sources a predominant portion of merchandise from abroad; the April 2025 IEEPA 10% universal-plus-country tariffs directly raise its import costs, and despite the Feb 20, 2026 Supreme Court ruling striking the IEEPA baseline, the administration immediately re-imposed a new 150-day 10% global tariff and other duties remain, leaving sourcing costs uncertain.

“effective in April 2025, the U.S. imposed, pursuant to the International Emergency Economic Powers Act (“IEEPA”), a universal baseline tariff of 10%, plus an additional country-specific tariff for select countries, including the countries from which we source a predominant portion of our merchandise, on all U.S. imports.”

Operations are concentrated in a few sites — the Store Support Center and distribution centers in California, Kansas and Missouri — so fire, tornado, earthquake or other disruption at any of them could prevent the company from effectively operating its stores and e-commerce.

“The concentration of our stores and operations in certain geographic locations subjects us to regional economic conditions and natural disasters that could adversely affect our business. Our Store Support Center and distribution centers are located in California, Kansas, and Missouri.”

Cotton and other fabrics are key inputs; U.S. sanctions, customs trade orders and forced-labor sourcing laws tied to China's Xinjiang Uyghur Autonomous Region (UFLPA) can move cotton prices and constrain supply.

“compliance with sanctions, customs trade orders and sourcing laws, such as those issued by the U.S. government related to entities and individuals connected to China's Xinjiang Uyghur Autonomous Region, could impact the price of cotton in the marketplace and the supply chain.”

A meaningful slice of demand comes from energy-industry work-wear buyers; stores in North Dakota, Wyoming, Colorado, Texas and surrounding areas are likely to be hurt by downturns in the oil, gas and commodities industries.

“our stores located in North Dakota, Wyoming, Colorado, Texas and surrounding areas are likely to be adversely impacted by an economic downturn affecting the oil, gas, and commodities industries.”