FORM8-K. CURRENTREPORT PursuanttoSection13or15(d)ofthe SecuritiesExchangeActof1934. DateofReport(Dateofearliesteventreported):May9,2018

Transcription

1 UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION Washington,D.C FORM8-K CURRENTREPORT PursuanttoSection13or15(d)ofthe SecuritiesExchangeActof1934 DateofReport(Dateofearliesteventreported):May9,2018 (Exactnameofregistrantasspecifiedinitscharter) Delaware (Stateorotherjurisdictionof incorporationor organization) (CommissionFileNumber) (I.R.S.EmployerIdentificationNo.) 15345BarrancaParkway,Irvine,California (Addressofprincipalexecutiveoffices) (ZipCode) (949) (Registrant stelephonenumber,includingareacode) NotApplicable (Formernameorformeraddress,ifchangedsincelastreport) ChecktheappropriateboxbelowiftheForm8-Kfilingisintendedtosimultaneouslysatisfythefilingobligationoftheregistrantunderanyofthefollowing provisions: WrittencommunicationspursuanttoRule425undertheSecuritiesAct(17CFR ) SolicitingmaterialpursuanttoRule14a-12undertheExchangeAct(17CFR240.14a-12) Pre-commencementcommunicationspursuanttoRule14d-2(b)undertheExchangeAct(17CFR240.14d-2(b)) Pre-commencementcommunicationspursuanttoRule13e-4(c)undertheExchangeAct(17CFR240.13e-4(c)) IndicatebycheckmarkwhethertheregistrantisanemerginggrowthcompanyasdefinedinRule405oftheSecuritiesActof1933( ofthischapter)or Rule12b-2oftheSecuritiesExchangeActof1934( b-2ofthischapter). Emerginggrowthcompany Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithany neworrevisedfinancialaccountingstandardsprovidedpursuanttosection13(a)oftheexchangeact.

2 Item2.02 ResultsofOperationsandFinancialCondition. OnMay15,2018,(the Company )issuedapressreleaseannouncingcertainfinancialresultsforitsfiscalyearendedmarch31, 2018.ThepressreleaseisattachedheretoasExhibit99.1. TheinformationprovidedinthisItem2.02,includingExhibit99.1,isintendedtobe furnished andshallnotbedeemed filed forpurposesofsection18 ofthesecuritiesexchangeactof1934,asamended(the ExchangeAct ),orotherwisesubjecttotheliabilitiesofthatsection,norshallitbedeemedincorporated byreferenceintoanyotherfilingunderthesecuritiesactof1933,asamended,ortheexchangeact,exceptasexpresslysetforthbyspecificreferenceinsucha filing. Item5.02 DepartureofDirectorsorCertainOfficers;ElectionofDirectors;AppointmentofCertainOfficers;CompensatoryArrangementof CertainOfficers. (b)onmay9,2018,j.fredericksimmonsresignedfromtheboardofdirectors(the Board )ofthe Company.TheresignationofMr.Simmonswasnot theresultofanydisagreementwiththecompanyonanymatterrelatingtoitsoperations,policiesorpractices. (d) On May 9, 2018, the Board appointed Anne MacDonald to fill the vacancy created by the resignation of Mr. Simmons. Ms. MacDonald is an experiencedbrandingandmarketingexecutivewithover30yearsofexperienceandhasservedaschiefmarketingofficerforseveralglobalcompanies,including Macy s,citigroupandtravelersinsurance.ms.macdonaldalsohasadvisedbrandssuchasprocter&gamble,at&tandpizzahut. Ms. MacDonald will receive the same compensation that is provided from time to time to Company directors who are not employees and who are not affiliated with Freeman Spogli & Co. In connection with her appointment to the Board, the Company and Ms. MacDonald entered into a customary indemnificationagreementinthesameformprovidedtootherdirectorsofthecompany. Item9.01 Exhibit99.1 FinancialStatementsandExhibits. PressreleasedatedMay15,2018.

3 Signatures PursuanttotherequirementsoftheSecuritiesExchangeActof1934,theregistranthasdulycausedthisreporttobesignedonitsbehalfbytheundersigned hereuntodulyauthorized. BOOTBARNHOLDINGS,INC. Date: May15,2018 By: /s/gregoryv.hackman Name:GregoryV.Hackman Title:ChiefFinancialOfficer

4 Exhibit99.1 AnnouncesFourthQuarterandFiscalYear2018FinancialResults FourthQuarterandFiscalYear2018ResultsExceedGuidance AppointmentofAnneMacDonaldtoBoardofDirectors IRVINE,Calif.--(BUSINESSWIRE)--May15,2018--(NYSE:BOOT)todayannounceditsfinancialresultsforthefourthquarterand fiscalyearendedmarch31,2018. Forthe13-weekfourthquarterendedMarch31,2018: Netsalesincreasedto$170.8million,drivenbya12.1%increaseinsamestoresales,withdouble-digitsamestoresalesgrowthinbothretailstoresand online.thiscomparesto$163.0millionintheprior-yearperiod,whichwasa14-weekquarter. Netincomewas$6.9million,or$0.24perdilutedshare,comparedtonetincomeof$2.6million,or$0.10perdilutedshare(andcomparedtoadjustednet incomeof$3.3million,or$0.12perdilutedshare)intheprior-yearperiod,whichwasa14-weekquarter. Forthe52-weekfiscalyearendedMarch31,2018: Netsalesincreased7.6%to$677.9million,comparedto$629.8millionintheprioryear,whichwasa53-weekyear. Samestoresalesincreased5.2%. Netincomewas$28.9million,or$1.05perdilutedshare,comparedtonetincomeof$14.2million,or$0.53perdilutedshare(andcomparedtoadjusted netincomeof$14.9million,or$0.55perdilutedshare)intheprior-year,whichwasa53-weekyear. Added9storesthroughnewopeningsandacquisitionsandclosedtwounderperformingstores,bringingthetotalcountatfiscalyear-endto226stores. Note:Adjustednetincomeisanon-GAAPmeasure.AnexplanationofthecomputationofthismeasureandareconciliationtoGAAPnetincomeisincluded below.seealso"non-gaapfinancialmeasures." TheCompanyannouncedthatAnneMacDonald,anexperiencedbrandingandmarketingexecutive,hasbeenappointedtoitsBoardofDirectors.Ms.MacDonald willreplacefredsimmons,whohasresignedfromtheboard. Overthecourseofhercareer,Ms.MacDonaldhasservedasChiefMarketingOfficerforseveralglobalcompaniesincludingMacy s,citigroup,andtravelers Insurance.Inadditiontoherexecutiveexperience,Ms.MacDonaldhashadextensiveagencyexperienceadvisingiconicbrandsincluding,Procter&Gamble, AT&TandPizzaHut.Presentlysheworksasastrategicadvisortoseveralclientsthroughherownfirm.

5 JimConroy,ChiefExecutiveOfficer,commented, Weareverypleasedwiththetop-linemomentumourbusinessexperiencedacrossmostofthecountrybothin storeandonlineduringthefourthquarter.ourinvestmentsinmerchandising,marketingandomni-channelfueleddouble-digitgainsinretailcomparablesalesand helpedreturnoure-commercebusinesstodouble-digitgrowthaswell.importantly,weheldtruetoourfull-pricesellingmodel,whichcombinedwitha meaningfulincreaseinourexclusivebrandpenetration,yieldeda90basispointimprovementinmerchandisemargin.ourstrongsalesandmarginperformance enabledustoexceedourearningsguidanceforthequarterandfurthersolidifyourindustryleadingposition. Mr.Conroycontinued, IamequallyexcitedaboutthebusinessinAprilandMayasourdouble-digitsamestoresalesgrowthhascontinued.Wearelooking forwardtofiscal2019andtheopportunitieswehavetodriveprofitablegrowth,re-acceleratestoreexpansion,buildoutourmulti-brande-commercestrategy,and furtherdevelopourexclusivebrands. RegardingthechangeintheBoardofDirectors,JimConroycommented, IamexcitedtowelcomeAnneMacDonaldtotheBoardofDirectors.Shebringsa world-classmarketingbackgroundthatwillenhanceourabilitytodevelopboththebootbarnbrandandeachofourexclusivebrands.anne scombinationof companyandagencyexperiencewillfurtherenhancethecompositionofourboardaswecontinuetogrowthebootbarnbusinessacrossthecountry.ialsowant totakethisopportunitytothankfredsimmonsforhiscontributionssincedecember2011.fred sguidanceandstrategiccounselhavehelpedleadthegrowthof BootBarnintoanationallifestylebrandwithrevenuegrowing300%duringhistenure.Onapersonalnote,Fredhasbeeninspiring,motivationalandupliftingto meandtheentiremanagementteam. OperatingResultsfortheFourthQuarterEndedMarch31,2018 Netsalesincreasedto$170.8millioninthefourthquarteroffiscalyear2018(13weeks),from$163.0millioninthefourthquarteroffiscalyear2017(14 weeks).netsalesincreasedduetoa12.1%increaseinsamestoresales,thesalescontributionfrom9storesaddedoverthepasttwelvemonths,andsales fromthecountryoutfittersitethatwasacquiredinfebruary2017.salesgrowthwaspartiallyoffsetbysalesfromthe14thweekintheprior-yearperiod. Grossprofitwas$52.9million,or31.0%ofnetsales,inthefourthquarteroffiscalyear2018,comparedtogrossprofitof$49.3million,or30.3%ofnet sales,intheprior-yearperiod.grossprofitincreasedprimarilyduetoincreasedsalesandanincreaseinmerchandisemarginrate.grossprofitrate increasedprimarilyasaresultofa90basispointincreaseinmerchandisemarginratepartiallyoffsetbya20basispointincreaseinbuyingandoccupancy costs.thehighermerchandisemarginratewasdrivenbymorefull-priceselling,fewerpromotions,andincreasedexclusivebrandpenetration.the increaseinbuyingandoccupancycostsasapercentageofsalesresultedfromfixedcostsdeleveragingina13-weekquarterinthecurrentyearcomparedto a14-weekquarterintheprior-yearperiod. Selling,generalandadministrativeexpensewas$41.6million,or24.4%ofnetsales,inthefourthquarteroffiscalyear2018comparedto$41.3million,or 25.3%ofnetsales,intheprior-yearperiod.Excluding$1.2millionofstoreimpairmentchargesintheprior-yearperiod,adjustedselling,generaland administrativeexpensewas$40.1million,or24.6%ofnetsales.selling,generalandadministrativeexpensesincreasedprimarilyasaresultofincreased sales,compensationexpenseandadditionalcostsforbothnewandacquiredstores.selling,generalandadministrativeexpensesasapercentageofsales decreasedasaresultofexpenseleverageonhighersales. Incomefromoperationsincreased39.9%,to$11.3million,or6.6%ofnetsales,inthefourthquarteroffiscalyear2018(13weeks),comparedto$8.1 million,or4.9%ofnetsales,intheprior-yearperiod(14weeks).excludingtheimpactofthestoreimpairmentchargesintheprior-yearperiod,adjusted incomefromoperationswas$9.2million,or5.7%ofnetsales,inthefourthquarteroffiscalyear2017. Netincomewas$6.9million,or$0.24perdilutedshare,inthefourthquarteroffiscalyear2018(13weeks),comparedto$2.6million,or$0.10perdiluted share,intheprior-yearperiod(14weeks).excludingtheimpactofthestoreimpairmentcharges,adjustednetincomewas$3.3million,or$0.12perdiluted share,inthefourthquarteroffiscalyear2017,whichwasa14-weekquarter.netincomeperdilutedshareinthefourthquarteroffiscal2018includes approximately$0.06pershareoftaxbenefitrelatedtostockoptionexercisesand$0.02persharerelatedtoimprovedtaxrate,partiallyoffsetby$0.01per shareofsecondaryofferingcosts.

6 Areconciliationofadjustedselling,generalandadministrativeexpense,adjustedincomefromoperations,adjustednetincomeandadjustednetincomeperdiluted share,eachanon-gaapfinancialmeasure,totheirmostdirectlycomparablegaapfinancialmeasuresisincludedintheaccompanyingfinancialdata.see"non- GAAPFinancialMeasures." OperatingResultsfortheFiscalYearEndedMarch31,2018 Netsalesforfiscalyear2018(52weeks)increasedto$677.9millionfrom$629.8millioninfiscalyear2017(53weeks).Netsalesincreasedduetoa5.2% increaseinsamestoresales,thesalescontributionfrom9storesaddedoverthepasttwelvemonthsandsalesfromthecountryoutfittersitethatwas acquiredinfebruary2017.salesgrowthwaspartiallyoffsetbysalesfromthe53 rd weekintheprior-year. Grossprofitforfiscalyear2018was$207.9million,or30.7%ofnetsales,comparedtogrossprofitof$189.9million,or30.1%ofnetsales,infiscalyear 2017.Grossprofitincreasedprimarilyduetoincreasedsales.Grossprofitrateincreasedasaresultofa50basispointincreaseinmerchandisemarginrate. Selling,generalandadministrativeexpenseforfiscalyear2018was$161.7million,or23.8%ofnetsales,comparedto$152.1million,or24.1%ofnet sales,infiscalyear2017.adjustedselling,generalandadministrativeexpenseinfiscalyear2017was$150.9million,or24.0%ofnetsales.selling, generalandadministrativeexpensesincreasedasaresultofadditionalcostsassociatedwiththeopeningofnewandacquiredstoresoverthelasttwelve months,compensationexpenseandincrementaloperatingcostsassociatedwiththegrowthinthebusiness.selling,generalandadministrativeexpensesas apercentageofsalesdecreasedasaresultofexpenseleverageonhighersales. Incomefromoperationsforfiscalyear2018(52weeks)increased22.3%,to$46.3million,or6.8%ofnetsales,comparedto$37.8million,or6.0%ofnet sales,infiscalyear2017(53weeks).adjustedincomefromoperationsinfiscalyear2017was$39.0million,or6.2%ofnetsales. Netincomeforfiscalyear2018(52weeks)was$28.9million,or$1.05perdilutedshare,comparedto$14.2million,or$0.53perdilutedshare,infiscal year2017(53weeks).adjustednetincomeinfiscalyear2017was$14.9million,or$0.55perdilutedshare.netincomeperdilutedshareinfiscalyear 2018includesapproximately$0.25pershareoftaxbenefitfromtherevaluationofdeferredtaxliabilities,approximately$0.06relatedtostockoption exercisesand$0.04relatedtoimprovedtaxratefromtaxreform. TheCompanyadded9storesthroughnewopeningsandacquisitionsandclosedtwounderperformingstores,bringingthetotalcountatyear-endto226 stores.

7 Areconciliationofadjustedselling,generalandadministrativeexpense,adjustedincomefromoperations,adjustednetincomeandadjustednetincomeperdiluted share,eachanon-gaapfinancialmeasure,totheirmostdirectlycomparablegaapfinancialmeasuresisincludedintheaccompanyingfinancialdata.seealso "Non-GAAPFinancialMeasures." BalanceSheetHighlightsasofMarch31,2018 Cashof$9.0million. Averageinventoryperstoreincreased4.4%onacompstorebasiscomparedtoApril1,2017. Totalnetdebtof$204.2million,including$21.0milliondrawnundertherevolvingcreditfacility. FiscalYear2019Outlook ForthefiscalyearendingMarch30,2019theCompanyexpects: Toopen23newstores. Samestoresalesgrowthofmid-singledigits. Incomefromoperationsbetween$52.5millionand$56.5million. Interestexpenseof$17.0millionto$18.0million. Netincomeof$26.2millionto$29.2million. Netincomeperdilutedshareof$0.92to$1.02basedon28.7millionweightedaveragedilutedsharesoutstanding. ForthefiscalfirstquarterendingJune30,2018theCompanyexpects: Samestoresalesgrowthofapproximately10%. Netincomeperdilutedshareof$0.10to$0.12basedon28.5millionweightedaveragedilutedsharesoutstanding. ConferenceCallInformation Aconferencecalltodiscussthefinancialresultsforthefourthquarteroffiscalyear2018isscheduledfortoday,May15,2018,at4:30p.m.ET(1:30p.m.PT). Investorsandanalystsinterestedinparticipatinginthecallareinvitedtodial(800) Theconferencecallwillalsobeavailabletointerestedparties throughalivewebcastatinvestor.bootbarn.com.pleasevisitthewebsiteandselectthe EventsandPresentations linkatleast15minutespriortothestartofthe calltoregisteranddownloadanynecessarysoftware.atelephonereplayofthecallwillbeavailableuntiljune15,2018,bydialing(844) (domestic)or (412) (international)andenteringtheconferenceidentificationnumber: Pleasenoteparticipantsmustentertheconferenceidentification numberinordertoaccessthereplay.

8 AboutBootBarn BootBarnisthenation sleadinglifestyleretailerofwesternandwork-relatedfootwear,apparelandaccessoriesformen,womenandchildren.thecompany offersitsloyalcustomerbaseawideselectionofworkandlifestylebrands.asofthedateofthisrelease,bootbarnoperates230storesin31states,inadditionto ane-commercechannelwww.bootbarn.com.thecompanyalsooperateswww.sheplers.com,thenation sleadingpureplayonlinewesternandworkretailerand Non-GAAPFinancialMeasures TheCompanypresentsadjustedselling,generalandadministrativeexpense,adjustedincomefromoperations,adjustednetincomeandadjustednetincomeper dilutedsharetohelpthecompanydescribeitsoperatingandfinancialperformance.thesefinancialmeasuresarenon-gaapfinancialmeasuresandshouldnotbe construedinisolationorasanalternativetoactualselling,generalandadministrativeexpense,actualincomefromoperations,actualnetincomeandactual earningsperdilutedshareandotherincomeorcashflowstatementdata(aspresentedinthecompany sconsolidatedfinancialstatementsinaccordancewith generallyacceptedaccountingprinciplesintheunitedstates,orgaap),orasabetterindicatorofoperatingperformanceorasameasureofliquidity.thesenon- GAAPfinancialmeasures,asdefinedbytheCompany,maynotbecomparabletosimilarnon-GAAPfinancialmeasurespresentedbyothercompanies.The Company smanagementbelievesthatthesenon-gaapfinancialmeasuresprovideinvestorswithtransparencyandhelpillustratefinancialresultsbyexcluding itemsthatmaynotbeindicativeof,orareunrelatedto,thecompany scoreoperatingresults,therebyprovidingabetterbaselineforanalyzingtrendsinthe underlyingbusiness.seethetableattheendofthispressreleaseforareconciliationofadjustedselling,generalandadministrativeexpensetoselling,generaland administrativeexpense,adjustedincomefromoperationstoincomefromoperations,adjustednetincometonetincome,andadjustednetincomeperdilutedshare tonetincomeperdilutedshare. ForwardLookingStatements Thispressreleasecontainsforward-lookingstatementsthataresubjecttorisksanduncertainties.Allstatementsotherthanstatementsofhistoricalfactincludedin thispressreleaseareforward-lookingstatements.forward-lookingstatementsrefertoourcurrentexpectationsandprojectionsrelatingto,bywayofexampleand withoutlimitation,ourfinancialcondition,liquidity,profitability,resultsofoperations,margins,plans,objectives,strategies,futureperformance,businessand industry.youcanidentifyforward-lookingstatementsbythefactthattheydonotrelatestrictlytohistoricalorcurrentfacts.thesestatementsmayincludewords suchas"anticipate","estimate","expect","project","plan,"intend","believe", may, might, will, could, should, canhave, likely, outlook and otherwordsandtermsofsimilarmeaninginconnectionwithanydiscussionofthetimingornatureoffutureoperatingorfinancialperformanceorotherevents, butnotallforward-lookingstatementscontaintheseidentifyingwords.theseforward-lookingstatementsarebasedonassumptionsthatthecompany s managementhasmadeinlightoftheirindustryexperienceandontheirperceptionsofhistoricaltrends,currentconditions,expectedfuturedevelopmentsandother factorstheybelieveareappropriateunderthecircumstances.asyouconsiderthispressrelease,youshouldunderstandthatthesestatementsarenotguaranteesof performanceorresults.theyinvolverisks,uncertainties(someofwhicharebeyondthecompany scontrol)andassumptions.theserisks,uncertaintiesand assumptionsinclude,butarenotlimitedto,thefollowing:decreasesinconsumerspendingduetodeclinesinconsumerconfidence,localeconomicconditionsor changesinconsumerpreferencesandthecompany sabilitytoeffectivelyexecuteonitsgrowthstrategy;thefailuretomaintainandenhanceitsstrongbrand image;tocompeteeffectively;tomaintaingoodrelationshipswithitskeysuppliers;andtoimproveandexpanditsexclusiveproductofferings.thecompany discussestheforegoingrisksandotherrisksingreaterdetailundertheheading Riskfactors intheperiodicreportsfiledbythecompanywiththesecuritiesand ExchangeCommission.AlthoughtheCompanybelievesthattheseforward-lookingstatementsarebasedonreasonableassumptions,youshouldbeawarethat manyfactorscouldaffectthecompany sactualfinancialresultsandcausethemtodiffermateriallyfromthoseanticipatedintheforward-lookingstatements. Becauseofthesefactors,theCompanycautionsthatyoushouldnotplaceunduerelianceonanyoftheseforward-lookingstatements.Newrisksanduncertainties arisefromtimetotime,anditisimpossibleforthecompanytopredictthoseeventsorhowtheymayaffectthecompany.further,anyforward-lookingstatement speaksonlyasofthedateonwhichitismade.exceptasrequiredbylaw,thecompanydoesnotintendtoupdateorrevisetheforward-lookingstatementsinthis pressreleaseafterthedateofthispressrelease.

9 ConsolidatedBalanceSheets (Inthousands,exceptpersharedata) (Unaudited) March31, April1, Assets Currentassets: Cashandcashequivalents $ 9,016 $ 8,035 Accountsreceivable,net 4,389 4,354 Inventories 211, ,096 Prepaidexpensesandothercurrentassets 16,250 22,818 Totalcurrentassets 241, ,303 Propertyandequipment,net 89,208 82,711 Goodwill 193, ,095 Intangibleassets,net 63,383 64,511 Otherassets 1, Totalassets $ 587,941 $ 565,581 Liabilitiesandstockholders equity Currentliabilities: Lineofcredit $ 21,006 $ 33,274 Accountspayable 89,958 77,482 Accruedexpensesandothercurrentliabilities 40,034 35,983 Currentportionofnotespayable,net 1,062 Totalcurrentliabilities 150, ,801 Deferredtaxes 13,030 20,961 Long-termportionofnotespayable,net 183, ,517 Capitalleaseobligation 7,303 7,825 Otherliabilities 18,804 17,568 Totalliabilities 373, ,672 Stockholders equity: Commonstock,$0.0001parvalue;March31, ,000shares authorized,27,331sharesissued;april1, ,000shares authorized,26,575sharesissued 3 3 Preferredstock,$0.0001parvalue;10,000sharesauthorized,nosharesissuedoroutstanding Additionalpaid-incapital 148, ,184 Retainedearnings 66,670 37,791 Less:Commonstockheldintreasury,atcost,31and14sharesat March31,2018andApril1,2017,respectively (194) (69) Totalstockholders equity 214, ,909 Totalliabilitiesandstockholders equity $ 587,941 $ 565,581

10 ConsolidatedStatementsofOperations (Inthousands,exceptpersharedata) (Unaudited) Thirteen Fourteen Fifty-Two Fifty-Three WeeksEnded WeeksEnded WeeksEnded WeeksEnded March31, 2018 April1, 2017 March31, 2018 Netsales $ 170,766 $ 163,003 $ 677,949 $ 629,816 Costofgoodssold 117, , , ,930 Grossprofit 52,896 49, , ,886 Selling,generalandadministrativeexpenses 41,614 41, , ,068 Incomefromoperations 11,282 8,063 46,255 37,818 Interestexpense,net 3,808 3,851 15,076 14,699 Incomebeforeincometaxes 7,474 4,212 31,179 23,119 Incometaxexpense 619 1,624 2,300 8,922 Netincome $ 6,855 $ 2,588 $ 28,879 $ 14,197 Earningspershare: Basicshares $ 0.25 $ 0.10 $ 1.08 $ 0.54 Dilutedshares $ 0.24 $ 0.10 $ 1.05 $ 0.53 Weightedaveragesharesoutstanding: Basicshares 27,134 26,535 26,744 26,459 Dilutedshares 28,245 27,068 27,528 26,939 April1, 2017

11 ConsolidatedStatementsofCashFlows (Inthousands) (Unaudited) FiscalYearEnded March31, April1, March26, Cashflowsfromoperatingactivities Netincome $ 28,879 $ 14,197 $ 9,868 Adjustmentstoreconcilenetincometonetcashprovidedbyoperatingactivities: Depreciation 16,000 14,555 11,480 Stock-basedcompensation 2,248 3,023 2,881 Excesstaxbenefit (3,621) Amortizationofintangibleassets 1,128 2,155 2,536 Amortizationandwrite-offofdebtissuancefeesanddebtdiscount 1,199 1,145 2,274 Lossondisposalofpropertyandequipment Hurricane-relatedassetwrite-off 2,357 Storeimpairmentcharge 83 1,164 Accretionofabovemarketleases (2) (36) (72) Deferredtaxes 1,860 6, Amortizationofinventoryfairvalueadjustment (500) Changesinoperatingassetsandliabilities,netofacquisitions: Accountsreceivable,net (35) (223) 1,524 Inventories (24,598) (12,761) (16,087) Prepaidexpensesandothercurrentassets (3,281) (3,805) 7,543 Otherassets (167) 5 (2,713) Accountspayable 13,062 10,501 6,835 Accruedexpensesandothercurrentliabilities 3,977 (483) 5,068 Otherliabilities 1,238 5,172 4,469 Netcashprovidedbyoperatingactivities $ 44,200 $ 41,151 $ 32,929 Cashflowsfrominvestingactivities Purchasesofpropertyandequipment $ (24,418) $ (22,293) $ (36,127) Hurricane-relatedinsurancerecoveriesforpropertyandequipment 865 Acquisitionofbusinessorassets,netofcashacquired (1,305) (146,541) Netcashusedininvestingactivities $ (23,553) $ (23,598) $ (182,668) Cashflowsfromfinancingactivities Borrowings/(payments)onlineofcredit-net $ (12,268) $ (15,541) $ 32,615 Proceedsfromloanborrowings 200,938 Repaymentsondebtandcapitalleaseobligations (10,448) (2,378) (77,899) Debtissuancefees (520) (6,487) Taxwithholdingpaymentsfornetsharesettlement (125) (69) Excesstaxbenefitsfromstockoptions 3,621 Proceedsfromtheexerciseofstockoptions 3,695 1,275 2,698 Netcash(usedin)/providedbyfinancingactivities $ (19,666) $ (16,713) $ 155,486 Netincreaseincashandcashequivalents ,747 Cashandcashequivalents,beginningofperiod 8,035 7,195 1,448 Cashandcashequivalents,endofperiod $ 9,016 $ 8,035 $ 7,195 Supplementaldisclosuresofcashflowinformation: Cashpaidforincometaxes $ 614 $ 4,192 $ 3,296 Cashpaidforinterest $ 13,743 $ 13,646 $ 10,333 Supplementaldisclosureofnon-cashactivities: Unpaidpurchasesofpropertyandequipment $ 1,315 $ 2,421 $ 1,992 Equipmentacquiredthroughcapitallease $ $ $ 38

12 SupplementalInformation-ConsolidatedStatementsofOperations ReconciliationofGAAPtoNon-GAAPFinancialMeasures (Inthousands,exceptpershareamounts) (Unaudited) Thetablesbelowreconcilethenon-GAAPfinancialmeasuresofadjustedselling,generalandadministrativeexpense,adjustedincomefromoperations,adjustednetincome,andadjustednet incomeperdilutedshare,tothemostdirectlycomparablegaapfinancialmeasuresofselling,generalandadministrativeexpense,incomefromoperations,netincome,andnetincomeper dilutedshare. Thirteen Fourteen Fifty-Two Fifty-Three Weeks Ended Weeks Ended WeeksEnded WeeksEnded March31, April1, March31, April1, ReconciliationofGAAPselling,generalandadministrativeexpensetoadjustedselling,generalandadministrative expense Selling,generalandadministrativeexpense,asreported $ 41,614 $ 41,265 $ 161,660 $ 152,068 Storeimpairmentcharge(a) 1,164 1,164 Adjustedselling,generalandadministrativeexpense $ 41,614 $ 40,101 $ 161,660 $ 150,904 ReconciliationofGAAPincomefromoperationstoadjustedincomefromoperations Incomefromoperations,asreported $ 11,282 $ 8,063 $ 46,255 $ 37,818 Storeimpairmentcharge(a) 1,164 1,164 Adjustedincomefromoperations $ 11,282 $ 9,227 $ 46,255 $ 38,982 ReconciliationofGAAPnetincometoadjustednetincome Netincome,asreported $ 6,855 $ 2,588 $ 28,879 $ 14,197 Storeimpairmentcharge(a) 1,164 1,164 Provisionforincometaxes,asreported 1,624 8,922 Adjustedprovisionforincometaxes(b) (2,073) (9,371) Adjustednetincome $ 6,855 $ 3,303 $ 28,879 $ 14,912 ReconciliationofGAAPnetincomeperdilutedsharetoadjustednetincomeperdilutedshare Netincomeperdilutedshare,asreported $ 0.24 $ 0.10 $ 1.05 $ 0.53 Adjustmentsforstoreimpairmentchargeandrelatedtaximpact Adjustednetincomeperdilutedshare $ 0.24 $ 0.12 $ 1.05 $ 0.55 Weightedaveragedilutedsharesoutstanding,asreported 28,245 27,068 27,528 26,939 (a) Representsthestoreimpairmentchargerecordedatthreestoresinordertoreducethecarryingamountoftheassetstotheirestimatedfairvalues. (b) Theprovisionforincometaxesusesaneffectivetaxrateof38.6%forboththefourteen-weekandfifty-threeweekperiodendedApril1,2017,andappliesittothenon-GAAPincome beforetaxes.

13 StoreCount FiscalYearEnded FiscalYearEnded FiscalYearEnded QuarterEnded QuarterEnded QuarterEnded QuarterEnded March28, March26, April1, July1, September30, December30, March31, StoreCount(BOP) Opened/Acquired Relocated ClosedBootBarnStores (1) (2) (1) (2) ClosedSheplersStores (6) StoreCount(EOP) AdjustedEBITDAReconciliation (Inthousands) (Unaudited) ThirteenWeeksEnded FourteenWeeksEnded March31, December30, September30, July1, April1, BootBarn'sNetincome $ 6,855 $ 20,149 $ 1,098 $ 777 $ 2,588 Incometaxexpense ,624 Interestexpense,net 3,808 3,821 3,789 3,658 3,851 Depreciationandintangibleassetamortization 4,610 4,263 4,142 4,113 4,407 BootBarn'sEBITDA $ 15,892 $ 28,658 $ 9,780 $ 9,054 $ 12,470 Non-cashstock-basedcompensation(a) $ 398 $ 597 $ 678 $ 575 $ 763 Non-cashaccrualforfutureawardredemptions(b) (120) 47 (162) 5 (489) Lossondisposalofassets(c) Storeimpairmentcharge(d) ,164 Secondaryofferingcosts(e) BootBarn'sAdjustedEBITDA $ 16,726 $ 29,314 $ 10,343 $ 9,648 $ 14,112 Additionaladjustments(f) ConsolidatedEBITDAperLoanAgreements $ 17,272 $ 30,176 $ 10,761 $ 10,276 $ 14,268 (a) Representsnon-cashcompensationexpensesrelatedtostockoptions,restrictedstockawardsandrestrictedstockunitsgrantedtocertainofouremployeesanddirectors. (b) Representsthenon-cashaccrualforfutureawardredemptionsinconnectionwithourcustomerloyaltyprogram. (c) Representslossondisposalofassetsfromstoreclosures. (d) Representsstoreimpairmentchargesrecordedinordertoreducethecarryingamountoftheassetstotheirestimatedfairvalues. (e) RepresentsprofessionalfeesandexpensesincurredinconnectionwiththeJanuary2018secondaryoffering. (f) AdjustmentstoBootBarn'sAdjustedEBITDAasprovidedinthe2015GolubTermLoanandJune2015WellsFargoRevolverincludepre-openingcosts,franchiseandstatetaxes,and othermiscellaneousadjustments. CONTACT: Investors: ICR,Inc. BrendonFrey, BootBarnIR@icrinc.com or Media: JimWatkins, VicePresident,InvestorRelations BootBarnIRMedia@bootbarn.com