A Boot Barn Nashville store

A Boot Barn Nashville store

Western retailer Boot Barn Holdings Inc. (NYSE: BOOT) is temporarily cutting executives' pay and its workforce in response to the business slowdown resulting from COVID-19.

The Irvine chain said Thursday in an SEC filing President and CEO James Conroy would take a temporary 50% salary cut. Other senior executives will see a 25% temporary pay cut.

Bonuses for the year ended March 28 are being deferred to no later than September 1.

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The changes are effective April 12.

Foot traffic at its 252 retail locations in 33 states have taken a hit from various stay-at-home orders causing Boot Barn to furlough 40% of workers in its stores, distribution centers and main office.

Boot Barn said it expects the pandemic “to have a material adverse impact on the company’s financial results" and withdrew its guidance for the year and three months ended March 28.

The retailer was down 1.5% in after-hours trading to a market cap of $460 million.

Go here for more updates on OC companies' responses to the coronavirus.

For ongoing, in-depth coverage of the coronavirus' effects on OC businesses, see the Monday print edition of the Business Journal.