Are you looking to invest in companies that are benefiting from cultural trends? Look no further than the recent surge in sales of Western boots after Beyoncé released her “Cowboy Carter” album. According to consumer behavior firm Circana, sales of Western boots rose by over 20% in the week following the album’s release.
This trend is not limited to boots alone. Companies that embody the Wild West aesthetic, such as Boot Barn, are also seeing a positive impact. Analysts have noted that Beyoncé’s album is adding to the cultural support for Western-inspired styles, with retailers like Boot Barn poised to benefit from increased foot traffic.
In fact, analyst Sam Poser recently upgraded his rating on Boot Barn to buy and raised his price target, citing the potential boost in same-store sales driven by Beyoncé’s album. With rodeo and music festival seasons kicking off, Poser anticipates that Boot Barn’s guidance for the current quarter and full fiscal year will exceed Wall Street estimates.
Not only are Western-inspired clothing and accessories like cowboy boots gaining popularity, but denim is also experiencing a resurgence. Beyoncé’s album features a song called “Levii’s Jeans,” which has further propelled the trend. Levi Strauss CEO Michelle Gass emphasized the brand’s commitment to remaining at the center of culture, noting that denim is “having a moment” and the Western style is “really trending.”
While Boot Barn’s stock has climbed more than 4% since the start of April, other companies in the denim space like Levi Strauss have seen a slight dip in share prices. However, the overall sentiment remains positive for companies that are capitalizing on the resurgence of Western fashion.
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