Boot Barn (BOOT) 10-Q 4 Aug 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 27, 2015	Jul. 31, 2015
Document and Entity Information
Entity Registrant Name	Boot Barn Holdings, Inc.
Entity Central Index Key	1,610,250
Document Type	10-Q
Document Period End Date	Jun. 27, 2015
Amendment Flag	false
Current Fiscal Year End Date	--03-26
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		26,138,350
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Current assets:
Cash and cash equivalents	$ 12,920	$ 1,448
Accounts receivable	3,002	3,863
Inventories	136,415	129,312
Prepaid expenses and other current assets	9,609	10,773
Total current assets	161,946	145,396
Property and equipment, net	34,536	30,054
Goodwill	93,097	93,097
Intangible assets, net	56,514	57,131
Other assets	1,659	1,026
Total assets	347,752	326,704
Current liabilities:
Line of credit	27,100	16,200
Accounts payable	48,370	44,636
Accrued expenses and other current liabilities	23,470	24,061
Current portion of notes payable	2,181	1,713
Total current liabilities	101,121	86,610
Deferred taxes	21,102	21,102
Long-term portion of notes payable	71,592	72,489
Other liabilities	5,256	4,081
Total liabilities	$ 199,071	$ 184,282
Commitments and contingencies (Note 6)
Stockholders' equity:
Common stock, $0.0001 par value; June 27, 2015 - 100,000 shares authorized, 26,097 shares issued and outstanding; March 28, 2015 - 100,000 shares authorized, 25,824 shares issued and outstanding	$ 3	$ 3
Preferred stock, $0.0001 par value; 10,000 shares authorized, no shares issued or outstanding
Additional paid-in capital	$ 132,681	$ 128,693
Retained earnings	15,997	13,726
Total stockholders' equity	148,681	142,422
Total liabilities and stockholders' equity	$ 347,752	$ 326,704

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 27, 2015	Mar. 28, 2015
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common Stock, shares issued (in shares)	26,097,100	25,824,000
Common Stock, shares outstanding (in shares)	26,097,100	25,824,000
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred Stock, shares issued (in shares)	0	0
Preferred Stock, shares outstanding (in shares)	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 96,000	$ 82,497
Cost of goods sold	65,221	55,607
Gross profit	30,779	26,890
Operating expenses:
Selling, general and administrative expenses	25,053	21,497
Acquisition-related expenses	891
Total operating expenses	25,944	21,497
Income from operations	4,835	5,393
Interest expense, net	791	2,757
Other income, net		18
Income before income taxes	4,044	2,654
Income tax expense	1,773	1,241
Net income	2,271	1,413
Net income attributed to non-controlling interest		4
Net income attributed to Boot Barn Holdings, Inc.	$ 2,271	$ 1,409
Earnings per share:
Basic shares (in dollars per share)	$ 0.09	$ 0
Diluted shares (in dollars per share)	$ 0.08	$ 0
Weighted average shares outstanding:
Basic shares	25,865	19,149
Diluted shares	26,973	19,149

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Noncontrolling Interest	Total
Balance at Mar. 29, 2014	$ 2	$ 78,834	$ 1,652	$ 4,087	$ 84,575
Balance (in shares) at Mar. 29, 2014	18,929
Increase (Decrease) in Stockholders' Equity
Net income			1,409	4	1,413
Dividend paid		(39,648)	(1,652)		(41,300)
Reorganization and issuance of stock		4,091		$ (4,091)
Reorganization and issuance of stock (in shares)	1,000
Stock-based compensation expense		442			442
Balance at Jun. 28, 2014	$ 2	43,719	1,409		45,130
Balance (in shares) at Jun. 28, 2014	19,929
Balance at Mar. 28, 2015	$ 3	128,693	13,726		142,422
Balance (in shares) at Mar. 28, 2015	25,824
Increase (Decrease) in Stockholders' Equity
Net income			2,271		2,271
Stock options exercised		1,224			1,224
Stock options exercised (in shares)	273
Excess tax benefit		2,111			2,111
Stock-based compensation expense		653			653
Balance at Jun. 27, 2015	$ 3	$ 132,681	$ 15,997		$ 148,681
Balance (in shares) at Jun. 27, 2015	26,097

CONDENSED CONDSOLIDATED STATEME

CONDENSED CONDSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Cash flows from operating activities
Net income	$ 2,271	$ 1,413
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,008	1,400
Stock-based compensation	653	442
Excess tax benefit	(2,111)
Amortization of intangible assets	629	658
Amortization of deferred loan fees and debt discount	69	194
Loss on disposal of property and equipment	11	62
Accretion of above market leases	(19)	(48)
Deferred taxes	154	381
Changes in operating assets and liabilities:
Accounts receivable	861	98
Inventories	(7,103)	(7,563)
Prepaid expenses and other current assets	3,121	(1,931)
Other assets	(235)	191
Accounts payable	4,318	4,830
Accrued expenses and other current liabilities	(591)	(547)
Other liabilities	1,202	(249)
Net cash provided by (used in) operating activities	5,238	(669)
Cash flows from investing activities
Purchases of property and equipment	(7,085)	(1,803)
Net cash used in investing activities	(7,085)	(1,803)
Cash flows from financing activities
Line of credit - net	10,900	13,970
Proceeds from loan borrowings		30,750
Repayments on debt and capital lease obligations	(477)	(269)
Debt issuance fees	(439)	(682)
Excess tax benefits from stock options	2,111
Proceeds from exercise of stock options	1,224
Dividends paid		(41,300)
Net cash provided by financing activities	13,319	2,469
Net increase (decrease) in cash and cash equivalents	11,472	(3)
Cash and cash equivalents, beginning of period	1,448	1,118
Cash and cash equivalents, end of period	12,920	1,115
Supplemental disclosures of cash flow information:
Cash paid for income taxes	124	1,123
Cash paid for interest	707	2,013
Supplemental disclosure of non-cash activities:
Unpaid purchases of property and equipment	$ 791	$ 218

Description of the Company and

Description of the Company and Basis of Presentation	3 Months Ended
	Jun. 27, 2015
Description of the Company and Basis of Presentation
Description of the Company and Basis of Presentation	1. Description of the Company and Basis of Presentation Boot Barn Holdings, Inc., formerly known as WW Top Investment Corporation (the “Company”) was formed on November 17, 2011, and is incorporated in the State of Delaware. The equity of the Company consists of 100,000,000 authorized shares and 26,097,100 issued and outstanding shares of common stock as of June 27, 2015. The shares of common stock have voting rights of one vote per share. The Company operates specialty retail stores that sell western and work boots and related apparel and accessories. The Company operates retail locations throughout the U.S. and sells its merchandise via the internet. The Company operated a total of 176 stores in 28 states as of June 27, 2015 and 169 stores in 26 states as of March 28, 2015. As of June 27, 2015, all stores operate under the Boot Barn name, with the exception of two stores which operate under the “American Worker” name. As of June 8, 2014, the Company held all of the outstanding shares of common stock of WW Holding Corporation, which held 95.0% of the outstanding shares of common stock of Boot Barn Holding Corporation. On June 9, 2014, WW Holding Corporation was merged with and into the Company and then Boot Barn Holding Corporation was merged with and into the Company (“Reorganization”). As a result of this Reorganization, Boot Barn, Inc. became a direct wholly owned subsidiary of the Company, and the minority stockholders that formerly held 5.0% of Boot Barn Holding Corporation were issued a total of 1,000,000 shares of common stock and became holders of 5.0% of the Company. Net income attributed to non-controlling interest was recorded for all periods through June 9, 2014. Subsequent to June 9, 2014, there were no noncontrolling interests. On June 10, 2014, the legal name of the Company was changed from WW Top Investment Corporation to Boot Barn Holdings, Inc. Basis of Presentation The Company’s consolidated financial statements as of and for the thirteen weeks ended June 27, 2015 and June 28, 2014 are prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”), and include the accounts of the Company and each of its subsidiaries, including Boot Barn, Inc., RCC Western Stores, Inc. (“RCC”) and Baskins Acquisition Holdings, LLC (“Baskins”). All intercompany accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation. Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements have been condensed or omitted. In the opinion of management, the interim condensed consolidated financial statements reflect all adjustments that are of a normal and recurring nature necessary to fairly present the Company’s financial position and results of operations and cash flows in all material respects as of the dates and for the periods presented. The results of operations presented in the interim condensed consolidated financial statements are not necessarily indicative of the results that may be expected for the fiscal year ending March 26, 2016. Fiscal Periods The Company reports its results of operations and cash flows on a 52- or 53-week basis ending on the last Saturday of March unless April 1 st is a Saturday, in which case the fiscal year ends on April 1 st . In a 52-week year, each quarter includes 13 weeks of operations; in a 53-week fiscal year, the first, second and third quarters each include 13 weeks of operations and the fourth quarter includes 14 weeks of operations. The fiscal year ending on March 26, 2016 (“fiscal 2016”) and the fiscal year ended on March 28, 2015 (“fiscal 2015”), each consist of 52 weeks. Amendment of Certificate of Incorporation On October 19, 2014, the Company’s board of directors authorized the amendment of its certificate of incorporation to increase the number of shares that the Company is authorized to issue to 100,000,000 shares of common stock, par value $0.0001 per share. In addition, the amendment of the certificate of incorporation authorized the Company to issue 10,000,000 shares of preferred stock, par value $0.0001 per share, and effect a 25-for-1 stock split of its outstanding common stock. The amendment became effective on October 27, 2014. Accordingly, all common share and per share amounts in these condensed consolidated financial statements have been adjusted to reflect the increase in authorized shares and the 25-for-1 stock split as though it had occurred at the beginning of the initial period presented. Initial Public Offering On October 29, 2014, the Company commenced its initial public offering (“IPO”) of 5,000,000 shares of its common stock. In addition, on October 31, 2014, the underwriters of the IPO exercised their option to purchase an additional 750,000 shares of common stock from the Company. As a result, 5,750,000 shares of common stock were issued and sold by the Company at a price of $16.00 per share. As a result of the IPO, the Company received net proceeds of approximately $82.2 million, after deducting the underwriting discount of $6.4 million and related fees and expenses of $3.3 million. The Company used the net proceeds from the IPO to pay down the principal balance of its term loan with Golub Capital LLC. See Note 4, “Revolving Credit Facilities and Long-Term Debt”.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 27, 2015
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Information regarding the Company’s significant accounting policies is contained in Note 2, “Summary of Significant Accounting Policies”, to the consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on May 29, 2015. Presented below in the following notes is supplemental information that should be read in conjunction with those consolidated financial statements. Comprehensive Income The Company does not have any components of other comprehensive income recorded within its consolidated financial statements and, therefore, does not separately present a statement of comprehensive income in its consolidated financial statements. Segment Reporting GAAP has established guidance for reporting information about a company’s operating segments, including disclosures related to a company’s products and services, geographic areas and major customers. The Company operates in a single operating segment, which includes net sales generated from its retail stores and e-commerce website. All of the Company’s identifiable assets are in the U.S. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Among the significant estimates affecting the Company’s consolidated financial statements are those relating to revenue recognition, inventories, goodwill, intangible and long-lived assets, stock-based compensation and income taxes. Management regularly evaluates its estimates and assumptions based upon historical experience and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. To the extent actual results differ from those estimates, the Company’s future results of operations may be affected. Fair Value of Certain Financial Assets and Liabilities The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures , (“ASC 820”) which requires disclosure of the estimated fair value of certain assets and liabilities defined by the guidance as financial instruments. The Company’s financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable and debt. ASC 820 defines the fair value of financial instruments as the price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-level hierarchy for disclosure that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities. · Level 1 uses unadjusted quoted prices that are available in active markets for identical assets or liabilities. · Level 2 uses inputs other than quoted prices included in Level 1 that are either directly or indirectly observable through correlation with market data. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs to valuation models or other pricing methodologies that do not require significant judgment because the inputs used in the model, such as interest rates and volatility, can be corroborated by readily observable market data. · Level 3 uses one or more significant inputs that are unobservable and supported by little or no market activity, and reflect the use of significant management judgment. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques and significant management judgment or estimation. The Company’s Level 3 assets include certain acquired businesses. Cash and cash equivalents, accounts receivable and accounts payable are valued at fair value and are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified as Level 2 or Level 3 even though there may be certain significant inputs that are readily observable. The Company believes that the recorded value of its financial instruments approximates their current fair values because of their nature and relatively short maturity dates or duration. Although market quotes for the fair value of the outstanding debt arrangements discussed in Note 4, “Revolving Credit Facilities and Long-Term Debt” are not readily available, the Company believes its carrying value approximates fair value due to the variable interest rates, which are Level 2 inputs. There were no financial assets or liabilities requiring fair value measurements as of June 27, 2015 on a recurring basis. Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, Presentation of Financial Statements and Property, Plant, and Equipment and Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . The ASU amendment changes the requirements for reporting discontinued operations in Subtopic 205-20. The amendment is effective on a prospective basis for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2014. Early adoption is permitted for disposals that have not been reported in financial statements previously issued. The Company adopted this update at the start of fiscal 2016, and it did not have a material impact on its consolidated financial statements. In May 2014, the FASB and the International Accounting Standard Board (“IASB”) jointly issued a new revenue recognition standard, ASU No. 2014-09, Revenue From Contracts with Customers , that will supersede nearly all existing revenue recognition guidance under GAAP. The revenue recognition standard will allow for the recognition of revenue when a company transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard permits the use of either a full retrospective or retrospective with cumulative effect transition method. Early adoption is not permitted. On July 9, 2015, the FASB voted to approve a one-year deferral of the effective date, and voted to permit early adoption as long as the adoption date is not before the original public entity effective date. The standard is effective for public entities for annual and interim periods beginning after December 15, 2017. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on the consolidated financial statements. In June 2014, the FASB issued ASU No. 2014-12, “Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force).” This guidance requires a performance target that affects vesting and that could be achieved after the requisite service period to be treated as a performance condition. The current accounting standard for stock-based compensation as it applies to awards with performance conditions should be applied. This guidance is effective for fiscal years, including interim reporting periods, beginning after December 15, 2015, and is applicable to the Company’s fiscal year beginning March 27, 2016. The Company is currently evaluating this guidance, but does not anticipate it will have a material impact to its consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40) which amends the accounting guidance related to the evaluation of an entity’s ability to continue as a going concern. The amendment establishes management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern in connection with preparing financial statements for each annual and interim reporting period. The update also gives guidance to determine whether to disclose information about relevant conditions and events when there is substantial doubt about an entity’s ability to continue as a going concern. This guidance is effective for the Company as of December 15, 2016. The Company does not expect the new guidance to have an impact on its consolidated financial statements. In January 2015, the FASB issued ASU 2015-01 Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. This Update eliminates from GAAP the concept of extraordinary items. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In April 2015, the FASB issued Accounting Standards Update 2015-03 Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. Entities that have historically presented debt issuance costs as an asset, related to a recognized debt liability, will be required to present those costs as a direct deduction from the carrying amount of that debt liability. This presentation will result in debt issuance cost being presented the same way debt discounts have historically been handled. The ASU does not change the recognition, measurement, or subsequent measurement guidance for debt issuance costs. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and may be adopted early. The Company expects this new guidance will reduce total assets and total long-term debt on its consolidated balance sheets by amounts classified as deferred debt issuance costs, but does not expect this update to have any other effect on its consolidated financial statements.

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Jun. 27, 2015
Intangible Assets, Net
Intangible Assets, Net	3. Intangible Assets, Net Net intangible assets as of June 27, 2015 and March 28, 2015 consisted of the following (in thousands): June 27, 2015 Gross Carrying Amount Accumulated Amortization Net Weighted Average Useful Life Trademarks $ $ ) $ — Customer list ) Non-compete agreements ) Below-market leases ) Total definite lived ) Trademarks-indefinite lived — Total intangible assets $ $ ) $ March 28, 2015 Gross Carrying Amount Accumulated Amortization Net Weighted Average Useful Life Trademarks $ $ ) $ — Customer list ) Non-compete agreements ) Below-market leases ) Total definite lived ) Trademarks-indefinite lived — Total intangible assets $ $ ) $ Amortization expense for intangible assets totaled $0.6 million for the thirteen weeks ended June 27, 2015 and for the thirteen weeks ended June 28, 2014, and is included in selling, general and administrative expenses. As of June 27, 2015, estimated future amortization of intangible assets was as follows (in thousands): Fiscal year 2016 $ 2017 2018 2019 2020 Thereafter Total $ The Company performs its annual goodwill impairment test on the first day of the fourth fiscal quarter, or more frequently if it believes that indicators of impairment exist. As of June 27, 2015, the Company had identified no indicators of impairment with respect to its goodwill, intangible and long-lived asset balances.

Revolving Credit Facilities and

Revolving Credit Facilities and Long-Term Debt	3 Months Ended
	Jun. 27, 2015
Revolving Credit Facilities and Long-Term Debt
Revolving Credit Facilities and Long-Term Debt	4. Revolving Credit Facilities and Long-Term Debt $150 Million Credit Facility (Wells Fargo Bank, N.A.) On February 23, 2015, the Company and Boot Barn, Inc., the Company’s primary operating subsidiary, entered into a credit facility with Wells Fargo Bank, N.A. (“February 2015 Wells Fargo Credit Facility”). The February 2015 Wells Fargo Credit Facility consists of a $75.0 million revolving credit facility, including a $5.0 million sub-limit for letters of credit, and a $75.0 million term loan, and also provides the Company with the ability to incur additional incremental term loans of up to $50.0 million, provided that certain conditions are met, including compliance with certain covenants. Proceeds from the February 2015 Wells Fargo Credit Facility were used to pay off outstanding debt. The February 2015 Wells Fargo Credit Facility is to be used for working capital, capital expenditures, permitted acquisitions and other general corporate purposes. Interest on borrowings under the February 2015 Wells Fargo Credit Facility is payable, at the election of the Company, at a rate equal to, either (i) the London Interbank Offered Rate (“LIBOR”) plus an applicable margin, or (ii) a base rate plus an applicable margin. The base rate is calculated as the highest of (1) the Federal Funds Rate plus 0.50%, (2) the prime rate publicly announced by the Administrative Agent and (3) LIBOR plus 1.0%. The applicable margin is calculated based on a pricing grid that in each case will be linked to a consolidated total lease adjusted net leverage ratio. For LIBOR loans, the applicable margin is in the range of 2.00% to 2.75%, and for base rate loans it is between 1.00% and 1.75%. Total interest expense incurred in the thirteen weeks ended June 27, 2015 on the February 2015 Wells Fargo Credit Facility was $0.8 million and the weighted average interest rate at June 27, 2015 was 4.09%. In addition, the Company will pay a commitment fee on the average daily unused portion of the revolving credit commitment under the February 2015 Wells Fargo Credit Facility, which will range between 0.25% and 0.40%, and was 0.30% during the thirteen weeks ended June 27, 2015. The February 2015 Wells Fargo Credit Facility also requires the Company to pay additional interest of 2% per annum upon triggering certain events which are not clearly and closely related to the February 2015 Wells Fargo Credit Facility. For financial accounting purposes, the requirement for the Company to pay a higher interest rate in the event of default is an embedded derivative. As of June 27, 2015, the fair value of these embedded derivatives was estimated and was not significant. The February 2015 Wells Fargo Credit Facility requires principal payments in respect of the term loan on a quarterly basis, which commenced on June 26, 2015. The required principal payments are $468,750 for that first fiscal quarter and each of the three following fiscal quarters, $937,500 for each of the next four fiscal quarters, $1,406,250 for each of the following four fiscal quarters, and $1,875,000 for each subsequent fiscal quarter, with the remaining balance due on the maturity date of February 23, 2020, as well as certain mandatory prepayments. The outstanding borrowings as of June 27, 2015 consisted of $74.5 million under the term loan and $27.1 million under the revolving credit facility. There was approximately $47.9 million of unused availability under the revolving portion this new credit facility. The obligations of Boot Barn, Inc. under the February 2015 Wells Fargo Credit Facility are guaranteed by the Company and each of the Company’s subsidiaries. All obligations of Boot Barn, Inc. and the guarantors under the February 2015 Wells Fargo Credit Facility are secured by a lien on all of the assets, including equity interests, of Boot Barn, Inc. and the guarantors. The Wells Fargo Credit Facility contains a number of covenants that restrict, among other things and subject to certain exceptions, the Company’s ability to: (1) incur additional indebtedness; (2) create liens on property; (3) engage in mergers, consolidations and other fundamental changes; (4) dispose of assets; (5) make investments, loans or advances; (6) make certain acquisitions; (7) engage in certain transactions with affiliates; (8) declare or pay dividends on, or repurchase, our stock; and (9) change lines of business or fiscal year. In addition, the February 2015 Wells Fargo Credit Facility prohibits the Company from exceeding specified consolidated total lease adjusted net leverage ratios and requires the Company to maintain a specified consolidated fixed charge coverage ratio during each specified measurement period. The February 2015 Wells Fargo Credit Facility also contains customary events of default, including a customary default triggered by a “Change in Control” as defined in the February 2015 Wells Fargo Credit facility. The Company was in compliance with all of its financial and non-financial covenants as of June 27, 2015. The February 2015 Wells Fargo Credit Facility limits the Company’s aggregate dividend payments to $5.0 million for the term of the February 2015 Wells Fargo Credit Facility in the event that the Company’s leverage ratio exceeds a specified leverage ratio. The Company incurred approximately $0.6 million of loan fees related to the issuance of the February 2015 Wells Fargo Credit Facility, which were deferred and are being amortized to interest expense using the effective interest method over the term of the loan through February 23, 2020. The remaining balance of deferred loan fees as of June 27, 2015 is $0.5 million, and is included in prepaid expenses and other current assets (current portion) and other assets (long-term portion) on the condensed consolidated balance sheets. On June 29, 2015, subsequent to the end of the fiscal quarter, the Company repaid all outstanding borrowings under the February 2015 Wells Fargo Credit Facility and terminated such facility in connection with the refinancing discussed in Note 10 “Subsequent Events.” Debt Discount Upon issuance of the note payable on February 23, 2015, the Company paid $0.8 million of transaction fees to Wells Fargo Bank, N.A. in connection with the February 2015 Wells Fargo Credit Facility. These transaction fees were paid via a reduction in the proceeds from the February 2015 Wells Fargo Credit Facility and are accounted for as a debt discount. Amortization expense of $0.04 million was included as a component of interest expense in the thirteen weeks ended June 27, 2015. The following sets forth balance sheet information related to the term loan: June 27, 2015 March 28, 2015 (in thousands) Term Loan $ Unamortized value of the debt discount ) ) Net carrying value $ $ Revolving Credit Facility (PNC Bank, N.A.) On December 11, 2011, the Company obtained a collateral-based revolving line of credit with PNC Bank, N.A. (the “PNC Line of Credit”), which the Company amended on August 31, 2012 and May 31, 2013. The PNC Line of Credit included a $5.0 million sub-limit for letters of credit. On April 15, 2014, the Company amended the PNC Line of Credit to increase the borrowing capacity from $60.0 million to up to $70.0 million. The available borrowing under the PNC Line of Credit was based on the collective value of eligible inventory and credit card receivables multiplied by specific advance rates. Total interest expense incurred on the PNC Line of Credit for the thirteen weeks ended June 28, 2014 was $0.3 million. On February 23, 2015, proceeds from the February 2015 Wells Fargo Credit Facility were used to pay the entire $50.8 million outstanding balance of the PNC Line of Credit. Term Loan Due May 2019 (Golub Capital LLC) The Company entered into a loan and security agreement with Golub Capital LLC on May 31, 2013, as amended by the first amendment to term loan and security agreement dated September 23, 2013 (the “2013 Golub Loan”). On April 14, 2014, the Company entered into an amended and restated term loan and security agreement for the 2013 Golub Loan. The amended and restated loan and security agreement increased the borrowings on the 2013 Golub Loan from $99.2 million to $130.0 million, with the proceeds used to fund a portion of the $41.3 million dividend to stockholders and cash payment to holders of vested options that was paid in April 2014. See Note 5, “Stock-Based Compensation”. On November 5, 2014, the Company amended the 2013 Golub Loan to reduce the applicable LIBOR Floor from 1.25% to 1.00% which changed the current interest rate from 7.00% to 6.75%. Total interest expense incurred on the 2013 Golub Loan was $2.2 million for the thirteen weeks ended June 28, 2014. On November 5, 2014, the Company used $81.9 million of the net proceeds from the IPO to repay a portion of the principal balance on the 2013 Golub Loan. The Company incurred a pre-payment penalty of $0.6 million and accelerated amortization of deferred loan fees of $1.7 million, which was recorded to interest expense. On February 23, 2015, proceeds from the February 2015 Wells Fargo Credit Facility were used to pay the entire $47.3 million outstanding balance of the 2013 Golub Loan. The Company incurred prepayment penalties of $1.1 million to the lenders under the Company’s prior credit facilities. Total deferred loan fees from the PNC Line of Credit and the 2013 Golub Loan of $1.4 million were written off to interest expense. Aggregate Contractual Maturities Aggregate contractual maturities for the Company’s line of credit and long-term debt as of June 27, 2015 are as follows (in thousands): Fiscal year 2016 2017 2018 2019 2020 Total

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jun. 27, 2015
Stock-Based Compensation
Stock-Based Compensation	5. Stock-Based Compensation Equity Incentive Plans On January 27, 2012, the Company approved the 2011 Equity Incentive Plan (the “2011 Plan”). The 2011 Plan authorized the Company to issue options to employees, consultants and directors to purchase up to a total of 3,750,000 shares of common stock. As of June 27, 2015, all awards granted by the Company under the 2011 Plan have been nonqualified stock options. Options granted under the 2011 Plan have a life of 10 years and vest over service periods of five years or in connection with certain events as defined by the 2011 Plan. On October 19, 2014, the Company approved the 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan authorizes the Company to issue awards to employees, consultants and directors with respect to a total of 1,600,000 shares of common stock, par value $0.0001 per share. Options granted under the 2014 Plan have a life of 8 years and vest over service periods of five years or in connection with certain events as defined by the 2014 Plan. All awards granted by the Company under the 2014 Plan to date have been nonqualified stock options, restricted stock awards or restricted stock units. Pro Rata Cash Dividend, Cash Payment to Holders of Vested Options and Adjustment to Exercise Price of Unvested Options On April 11, 2014, the Company declared and subsequently paid a pro rata cash dividend to its stockholders totaling $39.9 million, made a cash payment of $1.4 million to holders of vested options, and lowered the exercise price of 1,918,550 unvested options by $2.00 per share. The cash payments totaling $41.3 million reduced retained earnings to zero and reduced additional paid-in capital by $39.7 million. The 2011 Plan has nondiscretionary antidilution provisions that require the fair value of the option awards to be equalized in the event of an equity restructuring. Consequently, the board of directors of the Company was obligated under the antidilution provisions to approve the reduction of the exercise price on the unvested options and make the cash payment to the holders of vested options. No incremental stock-based compensation expense was recognized for the dividend for the vested options or reduction in exercise price of the unvested options. Non-Qualified Stock Options During the thirteen weeks ended June 27, 2015, the Company granted certain members of management options to purchase a total of 283,613 shares under the 2014 Plan. The total grant date fair value of stock options granted during the thirteen weeks ended June 27, 2015 was $3.2 million, with grant date fair values ranging from $7.49 to $15.72 per share. The Company is recognizing the expense relating to these stock options on a straight-line basis over the five-year service period of the awards. The exercise prices of these awards range between $22.31 and $28.82 per share. On October 29, 2014, the Company granted its Chief Executive Officer (“CEO”) options to purchase 99,650 shares of common stock under the 2014 Plan. These options contain provisions related to both time of service and market conditions. Vesting of the options occurs if the market price of the Company’s stock achieves stated targets through the third anniversary of the date of grant. If those market price targets are achieved, the options will vest in equal amounts on the third, fourth and fifth anniversaries of the grant date. The fair value of the options was estimated using a Monte Carlo simulation model. The following significant assumptions were used as of October 29, 2014: Stock price $ Exercise price $ Expected option term 6.0 years Expected volatility % Risk-free interest rate % Expected annual dividend yield % During the thirteen weeks ended June 28, 2014, the Company granted certain members of management options to purchase a total of 237,500 shares of common stock under the 2011 Plan. The total grant date fair value of the stock options during the thirteen weeks ended June 28, 2014 was $1.5 million, with grant date fair values ranging from $6.20 to $6.36 per share. The Company is recognizing the expense relating to these stock option on a straight-line basis over the five-year service period of the awards. The exercise prices of these awards range between $11.14 and $11.40 per share. The stock option awards discussed above, with the exception of options awarded to the Company’s CEO on October 29, 2014, were measured at fair value on the grant date using the Black-Scholes option valuation model. Key input assumptions used to estimate the fair value of stock options include the exercise price of the award, the expected option term, expected volatility of the Company’s stock price over the option’s expected term, the risk-free interest rate over the option’s expected term and the Company’s expected annual dividend yield, if any. The Company’s estimate of pre-vesting forfeitures, or forfeiture rate, was based on its internal analysis, which included the award recipients’ positions within the Company and the vesting period of the awards. The Company will issue shares of common stock when the options are exercised. The fair values of stock options granted during the thirteen weeks ended June 27, 2015 and June 28, 2014 were estimated on the grant dates using the following assumptions: Thirteen weeks ended June 27, 2015 June 28, 2014 Expected option term(1) 5.5 years 6.5 years Expected volatility factor(2) 33.3% - 37.1% Risk-free interest rate(3) 1.6% - 2.0% 1.9% - 2.0% Expected annual dividend yield(4) (1) The Company has limited historical information regarding expected option term. Accordingly, the Company determined the expected life of the options using the simplified method. (2) Stock volatility for each grant is measured using the weighted average of historical daily price changes of the Company’s competitors’ common stock over the most recent period equal to the expected option term of the Company’s awards. (3) The risk-free interest rate is determined using the rate on treasury securities with the same term. (4) The board of directors paid a dividend to stockholders in April 2014. The Company’s board of directors does not plan to pay cash dividends in the foreseeable future. Consequently, the Company used an expected dividend yield of zero. Intrinsic value for stock options is defined as the difference between the market price of the Company’s common stock on the last business day of the fiscal quarter and the weighted average exercise price of in-the-money stock options outstanding at the end of each fiscal period. The market value per share at June 27, 2015 was $31.05. The following table summarizes the stock award activity for the thirteen weeks ended June 27, 2015 (aggregate intrinsic value in thousands): Grant Date Weighted Weighted- Average Average Remaining Aggregate Stock Exercise Contractual Intrinsic Options Price(1) Life (in Years) Value Outstanding at March 28, 2015 $ Granted $ Exercised ) $ $ Cancelled, forfetied or expired ) $ Outstanding at June 27, 2015 $ $ Vested and expected to vest after June 27, 2015 $ $ Exerciseable at June 27, 2015 $ $ (1) The grant date weighted-average exercise price reflects the reduction of the exercise price by $2.00 per share for the 1,918,550 unvested options in connection with the April 2014 dividend discussed above. A summary of the status of non-vested stock options as of June 27, 2015 including changes during the thirteen weeks ended June 27, 2015 is presented below: Weighted- Average Grant Date Shares Fair Value Nonvested at March 28, 2015 $ Granted $ Vested ) $ Nonvested shares forfeited ) $ Nonvested at June 27, 2015 $ Restricted Stock Units During the thirteen weeks ended June 27, 2015, the Company granted 43,546 restricted stock units to various employees under the 2014 Plan. The shares granted to employees vest in five equal annual installments beginning on the grant date, provided that the respective award recipient continues to be employed by the Company through each of those dates. The grant date fair value of these awards totaled $1.3 million. The Company is recognizing the expense relating to these awards on a straight-line basis over the service period of each award, commencing on the date of grant. No restricted stock awards were granted during the thirteen weeks ended June 28, 2014. Stock-Based Compensation Expense Stock-based compensation expense was $0.7 million and $0.4 million for the thirteen weeks ended June 27, 2015 and June 28, 2014, respectively. Stock-based compensation expense of $0.1 million was recorded in cost of goods sold in the condensed consolidated statements of operations for each of the thirteen weeks ended June 27, 2015 and June 28, 2014, respectively. All other stock-based compensation expense is included in selling, general and administrative expenses in the condensed consolidated statements of operations. As of June 27, 2015, there was $8.5 million of total unrecognized stock-based compensation expense related to unvested stock options, with a weighted-average remaining recognition period of 3.6 years. As of June 27, 2015, there was $1.6 million of total unrecognized stock-based compensation expense related to restricted stock, with a weighted-average remaining recognition period of 4.6 years.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 27, 2015
Commitments and Contingencies
Commitments and Contingencies	6 . Commitments and Contingencies The Company is involved, from time to time, in litigation that is incidental to its business. The Company has reviewed these matters to determine if reserves are required for losses that are probable and reasonable to estimate in accordance with FASB ASC Topic 450, Contingencies. The Company evaluates such reserves, if any, based upon several criteria, including the merits of each claim, settlement discussions and advice from outside legal counsel, as well as indemnification of amounts expended by the Company’s insurers or others, if any. In management’s opinion, none of these legal matters, individually or in the aggregate, will have a material effect on the Company’s financial position, results of operations or liquidity. During the normal course of its business, the Company has made certain indemnifications and commitments under which the Company may be required to make payments for certain transactions. These indemnifications include those given to various lessors in connection with facility leases for certain claims arising from such facility leases, and indemnifications to directors and officers of the Company to the maximum extent permitted under the laws of the State of Delaware. The majority of these indemnifications and commitments do not provide for any limitation of the maximum potential future payments the Company could be obligated to make, and their duration may be indefinite. The Company has not recorded any liability for these indemnifications and commitments in the consolidated balance sheets as the impact is expected to be immaterial.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 27, 2015
Income Taxes
Income Taxes	7. Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes (“ASC 740”). In accordance with ASC 740, the Company recognizes deferred tax assets and liabilities based on the liability method, which requires an adjustment to the deferred tax asset or liability to reflect income tax rates currently in effect. When income tax rates increase or decrease, a corresponding adjustment to income tax expense is recorded by applying the rate change to the cumulative temporary differences. ASC 740 prescribes the recognition threshold and measurement principles for financial statement disclosure of tax positions taken or expected to be taken on a tax return. ASC 740 requires the Company to determine whether it is “more likely than not” that a tax position will be sustained upon examination by the appropriate taxing authorities before any part of the benefit can be recognized. Additionally, ASC 740 provides guidance on recognition measurement, derecognition, classification, related interest and penalties, accounting in interim periods, disclosure and transition. The provision for income taxes is based on the current estimate of the annual effective tax rate and is adjusted as necessary for discrete events occurring in a particular period. The income tax rate was 43.8% and 46.8% for the thirteen weeks ended June 27, 2015 and June 28, 2014, respectively. The effective tax rates for the thirteen weeks ended June 27, 2015 is lower than the comparable period in fiscal 2014 due to discrete items recognized in the first quarter of fiscal 2015, including a state tax credit. Because management believes that it is more likely than not that the Company will realize the full amount of the net deferred tax assets, the Company has not recorded any valuation allowance for the deferred tax assets. The Company’s policy is to accrue interest and penalties related to unrecognized tax benefits as a component of income tax expense. At June 27, 2015, the Company had no accrued liability for penalties and interest. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. At June 27, 2015, the Company is not aware of tax examinations (current or potential) in any tax jurisdictions.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 27, 2015
Related Party Transactions
Related Party Transactions	8. Related Party Transactions Leases and Other Transactions The Company has a lease agreement for one of its stores at a location owned by one minority stockholder of the Company. The Company paid less than $0.1 million for this lease during the thirteen weeks ended June 27, 2015 and June 28, 2014. These lease payments are included in cost of goods sold in the condensed consolidated statements of operations.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jun. 27, 2015
Earnings Per Share
Earnings Per Share	9. Earnings Per Share Earnings per share is computed under the provisions of FASB ASC Topic 260, Earnings Per Share . Basic earnings per share is computed based on the weighted average number of outstanding shares of common stock during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method, whereby proceeds from such exercise, unamortized compensation and hypothetical excess tax benefits, if any, on share-based awards are assumed to be used by the Company to purchase the common shares at the average market price during the period. Dilutive potential shares of common stock represent outstanding stock options. The dilutive effect of stock options and restricted stock is applicable only in periods of net income. As discussed in Note 5, “Stock-Based Compensation”, holders of vested stock options received a cash payment of $1.4 million, which the Company deducted from net income to determine the net income available for common stockholders when calculating earnings per share. This resulted in net loss available for common stockholders of less than $0.1 million for purposes of the earnings per share calculation for the thirteen weeks ended June 28, 2014. The components of basic and diluted loss per share of common stock, in aggregate, for the thirteen weeks ended June 27, 2015 and June 28, 2014 are as follows (in thousands, except per share amounts): Thirteen weeks ended June 27, 2015 June 28, 2014 Net income attributed to Boot Barn Holdings, Inc. $ $ Less: Cash payment to holders of vested options — ) Net income available for common stockholders $ $ ) Weighted average basic shares outstanding Dilutive effect of stock options — Weighted average diluted shares outstanding Basic earnings per share $ $ ) Diluted earnings per share $ $ ) Options to purchase 244,613 shares and 848,925 shares of common stock were outstanding during the thirteen weeks ended June 27, 2015 and June 28, 2014, respectively, but were not included in the computation of weighted average diluted common shares outstanding as the effect of doing so would have been anti-dilutive.

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 27, 2015
Subsequent Events
Subsequent Events	10. Subsequent Events On June 29, 2015, the Company completed the acquisition of Sheplers Inc. (“Sheplers”), a western lifestyle company with 25 retail locations across the United States and a significant e-commerce business, for a purchase price of $147.0 million (which included assumption of certain indebtedness), subject to customary adjustments. The Company has not made all of the remaining disclosures required by ASC 805-10-50-2, Business Combinations, as it is currently in the process of completing the purchase accounting for the acquisition. The Company financed the merger and refinanced approximately $172.0 million of its and Sheplers’ existing indebtedness in part with an initial borrowing of $57 million under a new $125 million syndicated senior secured asset-based revolving credit facility for which Wells Fargo Bank, National Association (“June 2015 Wells Fargo Revolver”), is agent, and a $200 million syndicated senior secured term loan for which GCI Capital Markets LLC (“2015 Golub Term Loan”) is agent. Borrowings under new credit agreements were also used to pay costs and expenses related to the acquisition and the closing of the new credit agreement, and may be used for working capital and other general corporate purposes. Borrowings under the 2015 Golub Term Loan will bear interest at per annum rates equal to, at the Company’s option, either (a) the London Interbank Offered Rate (“LIBOR”) plus an applicable margin for LIBOR loans with a LIBOR floor of 1%, or (b) the base rate plus an applicable nargin for base rate loans. The base rate will be calculated as the greater of (i) the higher of (x) the prime rate and (y) the federal funds rate plus 1/2% and (ii) the sum of one-month LIBOR plus 1.00%. The applicable margin is 4.50% for LIBOR Loans and 3.50% for base rate loans. The principal and interest on the 2015 Golub Term Loan will be payable in quarterly installments beginning on September 25, 2015 and ending on the maturity date of the term loan, June 25, 2021. Quarterly principal payments of $500,000 are due for each quarter. Borrowings under the June 2015 Wells Fargo Revolver bear interest at per annum rates equal to, at the Company’s option, either (i) LIBOR plus an applicable margin for LIBOR loans, or (ii) the base rate plus an applicable margin for base rate loans. The base rate is calculated as the highest of (a) the federal funds rate plus 1/2 %, (b) the Wells Fargo prime rate and (c) one-month LIBOR plus 1.0%. The applicable margin will be calculated based on a pricing grid that will in each case be linked to quarterly average excess availability. For LIBOR Loans, the applicable margin will be in the range of 1.00% to 1.25%, and for base rate loans it will be between 0.00% and 0.25%. The Company will also pay a commitment fee of 0.25% per annum of the actual daily amount of the unutilized revolving loans. The interest on the June 2015 Wells Fargo Revolver is payable in quarterly installments beginning on September 25, 2015 and ending on June 25, 2021, the maturity date. All obligations under each of the 2015 Golub Term Loan and the June 2015 Wells Fargo Revolver are unconditionally guaranteed by the Company and each of its direct and indirect domestic subsidiaries (other than certain immaterial subsidiaries) which are not named as borrowers under the 2015 Golub Term Loan or the June 2015 Wells Fargo Revolver, as applicable. The priority with respect to collateral under each of the 2015 Golub Term Loan and the June 2015 Wells Fargo Revolver is subject to the terms of an intercreditor agreement among the Lenders under the 2015 Golub Term Loan and the June 2015 Wells Fargo Revolver. Each of the June 2015 Wells Fargo Revolver and the 2015 Golub Term Loan contains customary provisions relating to mandatory prepayments, restricted payments, voluntary payments, affirmative and negative covenants, and events of default. In addition, the terms of the June 2015 Wells Fargo Revolver require the Company to maintain, on a consolidated basis, a Consolidated Fixed Charge Coverage Ratio to be at least 1.00:1.00 during such times as a covenant trigger event shall exist. The terms of the 2015 Golub Term Loan will require the Company to maintain, on a consolidated basis, a minimum Consolidated Total Net Leverage Ratio of 5.25:1.00 (with step downs to 4.00:1.00 as provided for in the 2015 Golub Term Loan).

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 27, 2015
Summary of Significant Accounting Policies
Comprehensive Income	Comprehensive Income The Company does not have any components of other comprehensive income recorded within its consolidated financial statements and, therefore, does not separately present a statement of comprehensive income in its consolidated financial statements.
Segment Reporting	Segment Reporting GAAP has established guidance for reporting information about a company’s operating segments, including disclosures related to a company’s products and services, geographic areas and major customers. The Company operates in a single operating segment, which includes net sales generated from its retail stores and e-commerce website. All of the Company’s identifiable assets are in the U.S.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Among the significant estimates affecting the Company’s consolidated financial statements are those relating to revenue recognition, inventories, goodwill, intangible and long-lived assets, stock-based compensation and income taxes. Management regularly evaluates its estimates and assumptions based upon historical experience and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. To the extent actual results differ from those estimates, the Company’s future results of operations may be affected.
Fair Value of Certain Financial Assets and Liabilities	Fair Value of Certain Financial Assets and Liabilities The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures , (“ASC 820”) which requires disclosure of the estimated fair value of certain assets and liabilities defined by the guidance as financial instruments. The Company’s financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable and debt. ASC 820 defines the fair value of financial instruments as the price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-level hierarchy for disclosure that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities. · Level 1 uses unadjusted quoted prices that are available in active markets for identical assets or liabilities. · Level 2 uses inputs other than quoted prices included in Level 1 that are either directly or indirectly observable through correlation with market data. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs to valuation models or other pricing methodologies that do not require significant judgment because the inputs used in the model, such as interest rates and volatility, can be corroborated by readily observable market data. · Level 3 uses one or more significant inputs that are unobservable and supported by little or no market activity, and reflect the use of significant management judgment. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques and significant management judgment or estimation. The Company’s Level 3 assets include certain acquired businesses. Cash and cash equivalents, accounts receivable and accounts payable are valued at fair value and are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified as Level 2 or Level 3 even though there may be certain significant inputs that are readily observable. The Company believes that the recorded value of its financial instruments approximates their current fair values because of their nature and relatively short maturity dates or duration. Although market quotes for the fair value of the outstanding debt arrangements discussed in Note 4, “Revolving Credit Facilities and Long-Term Debt” are not readily available, the Company believes its carrying value approximates fair value due to the variable interest rates, which are Level 2 inputs. There were no financial assets or liabilities requiring fair value measurements as of June 27, 2015 on a recurring basis.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, Presentation of Financial Statements and Property, Plant, and Equipment and Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . The ASU amendment changes the requirements for reporting discontinued operations in Subtopic 205-20. The amendment is effective on a prospective basis for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2014. Early adoption is permitted for disposals that have not been reported in financial statements previously issued. The Company adopted this update at the start of fiscal 2016, and it did not have a material impact on its consolidated financial statements. In May 2014, the FASB and the International Accounting Standard Board (“IASB”) jointly issued a new revenue recognition standard, ASU No. 2014-09, Revenue From Contracts with Customers , that will supersede nearly all existing revenue recognition guidance under GAAP. The revenue recognition standard will allow for the recognition of revenue when a company transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard permits the use of either a full retrospective or retrospective with cumulative effect transition method. Early adoption is not permitted. On July 9, 2015, the FASB voted to approve a one-year deferral of the effective date, and voted to permit early adoption as long as the adoption date is not before the original public entity effective date. The standard is effective for public entities for annual and interim periods beginning after December 15, 2017. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on the consolidated financial statements. In June 2014, the FASB issued ASU No. 2014-12, “Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force).” This guidance requires a performance target that affects vesting and that could be achieved after the requisite service period to be treated as a performance condition. The current accounting standard for stock-based compensation as it applies to awards with performance conditions should be applied. This guidance is effective for fiscal years, including interim reporting periods, beginning after December 15, 2015, and is applicable to the Company’s fiscal year beginning March 27, 2016. The Company is currently evaluating this guidance, but does not anticipate it will have a material impact to its consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40) which amends the accounting guidance related to the evaluation of an entity’s ability to continue as a going concern. The amendment establishes management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern in connection with preparing financial statements for each annual and interim reporting period. The update also gives guidance to determine whether to disclose information about relevant conditions and events when there is substantial doubt about an entity’s ability to continue as a going concern. This guidance is effective for the Company as of December 15, 2016. The Company does not expect the new guidance to have an impact on its consolidated financial statements. In January 2015, the FASB issued ASU 2015-01 Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. This Update eliminates from GAAP the concept of extraordinary items. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In April 2015, the FASB issued Accounting Standards Update 2015-03 Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. Entities that have historically presented debt issuance costs as an asset, related to a recognized debt liability, will be required to present those costs as a direct deduction from the carrying amount of that debt liability. This presentation will result in debt issuance cost being presented the same way debt discounts have historically been handled. The ASU does not change the recognition, measurement, or subsequent measurement guidance for debt issuance costs. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and may be adopted early. The Company expects this new guidance will reduce total assets and total long-term debt on its consolidated balance sheets by amounts classified as deferred debt issuance costs, but does not expect this update to have any other effect on its consolidated financial statements.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Jun. 27, 2015
Intangible Assets, Net
Schedule of net intangible assets	Net intangible assets as of June 27, 2015 and March 28, 2015 consisted of the following (in thousands): June 27, 2015 Gross Carrying Amount Accumulated Amortization Net Weighted Average Useful Life Trademarks $ $ ) $ — Customer list ) Non-compete agreements ) Below-market leases ) Total definite lived ) Trademarks-indefinite lived — Total intangible assets $ $ ) $ March 28, 2015 Gross Carrying Amount Accumulated Amortization Net Weighted Average Useful Life Trademarks $ $ ) $ — Customer list ) Non-compete agreements ) Below-market leases ) Total definite lived ) Trademarks-indefinite lived — Total intangible assets $ $ ) $
Schedule of estimated future amortization of intangible assets	As of June 27, 2015, estimated future amortization of intangible assets was as follows (in thousands): Fiscal year 2016 $ 2017 2018 2019 2020 Thereafter Total $

Revolving Credit Facilities a19

Revolving Credit Facilities and Long-Term Debt (Tables)	3 Months Ended
	Jun. 27, 2015
Revolving Credit Facilities and Long-Term Debt
Schedule of information related to the term loan	June 27, 2015 March 28, 2015 (in thousands) Term Loan $ Unamortized value of the debt discount ) ) Net carrying value $ $
Schedule of aggregate contractual maturities for the Company's line of credit and long-term debt	Aggregate contractual maturities for the Company’s line of credit and long-term debt as of June 27, 2015 are as follows (in thousands): Fiscal year 2016 2017 2018 2019 2020 Total

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Jun. 27, 2015
Stock-Based Compensation
Schedule of assumptions used to determine fair value of stock options	Thirteen weeks ended June 27, 2015 June 28, 2014 Expected option term(1) 5.5 years 6.5 years Expected volatility factor(2) 33.3% - 37.1% Risk-free interest rate(3) 1.6% - 2.0% 1.9% - 2.0% Expected annual dividend yield(4) (1) The Company has limited historical information regarding expected option term. Accordingly, the Company determined the expected life of the options using the simplified method. (2) Stock volatility for each grant is measured using the weighted average of historical daily price changes of the Company’s competitors’ common stock over the most recent period equal to the expected option term of the Company’s awards. (3) The risk-free interest rate is determined using the rate on treasury securities with the same term. (4) The board of directors paid a dividend to stockholders in April 2014. The Company’s board of directors does not plan to pay cash dividends in the foreseeable future. Consequently, the Company used an expected dividend yield of zero.
Schedule of stock award activity	The following table summarizes the stock award activity for the thirteen weeks ended June 27, 2015 (aggregate intrinsic value in thousands): Grant Date Weighted Weighted- Average Average Remaining Aggregate Stock Exercise Contractual Intrinsic Options Price(1) Life (in Years) Value Outstanding at March 28, 2015 $ Granted $ Exercised ) $ $ Cancelled, forfetied or expired ) $ Outstanding at June 27, 2015 $ $ Vested and expected to vest after June 27, 2015 $ $ Exerciseable at June 27, 2015 $ $ (1) The grant date weighted-average exercise price reflects the reduction of the exercise price by $2.00 per share for the 1,918,550 unvested options in connection with the April 2014 dividend discussed above.
Schedule of non-vested stock options	A summary of the status of non-vested stock options as of June 27, 2015 including changes during the thirteen weeks ended June 27, 2015 is presented below: Weighted- Average Grant Date Shares Fair Value Nonvested at March 28, 2015 $ Granted $ Vested ) $ Nonvested shares forfeited ) $ Nonvested at June 27, 2015 $
CEO
Stock-Based Compensation
Schedule of assumptions used to determine fair value of stock options	The following significant assumptions were used as of October 29, 2014: Stock price $ Exercise price $ Expected option term 6.0 years Expected volatility % Risk-free interest rate % Expected annual dividend yield %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jun. 27, 2015
Earnings Per Share
Schedule of the components of basic and diluted earnings (loss) per share of common stock	The components of basic and diluted loss per share of common stock, in aggregate, for the thirteen weeks ended June 27, 2015 and June 28, 2014 are as follows (in thousands, except per share amounts): Thirteen weeks ended June 27, 2015 June 28, 2014 Net income attributed to Boot Barn Holdings, Inc. $ $ Less: Cash payment to holders of vested options — ) Net income available for common stockholders $ $ ) Weighted average basic shares outstanding Dilutive effect of stock options — Weighted average diluted shares outstanding Basic earnings per share $ $ ) Diluted earnings per share $ $ )

Description of the Company an22

Description of the Company and Basis of Presentation (Details) $ / shares in Units, $ in Thousands	Oct. 31, 2014$ / sharesshares	Oct. 29, 2014USD ($)shares	Oct. 19, 2014$ / sharesshares	Jun. 27, 2015USD ($)stateVotestore$ / sharesshares	Mar. 26, 2016	Mar. 28, 2015statestore$ / sharesshares	Jun. 09, 2014shares	Jun. 08, 2014
Fiscal Periods
Fiscal period duration					364 days	364 days
Fiscal quarter period, except for a 53-week fiscal year				91 days
Fiscal quarter period, for a 53-week fiscal year				98 days
Business Operations
Number of shares authorized			100,000,000	100,000,000		100,000,000
Number of shares issued				26,097,100		25,824,000
Number of shares outstanding				26,097,100		25,824,000
Number of votes per common share | Vote				1
Percentage of the entity's shares owned by minority stockholders of the Predecessor							5.00%
Non-controlling interest | $				$ 0
Number of stores | store				176		169
Number of states in which the Company operates | state				28		26
Number of stores operated under other name | store				2
Common stock, par value (in dollars per share) | $ / shares			$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, shares authorized (in shares)			10,000,000	10,000,000		10,000,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.0001	$ 0.0001		$ 0.0001
Stock split, conversion ratio			0.04
IPO and over-allotments
Business Operations
Shares issued (in shares)	5,750,000
Share price (in dollars per share) | $ / shares	$ 16
IPO
Business Operations
Shares issued (in shares)		5,000,000
Net proceeds from initial public offering | $		$ 82,200
Underwriting discount | $		6,400
Related fees and expenses | $		$ 3,300
Over-allotments
Business Operations
Shares issued (in shares)	750,000
WW Holding Corporation | Boot Barn Holding Corporation
Business Operations
Ownership percentage (as a percent)								95.00%
Boot Barn Holding Corporation
Business Operations
Number of shares issued							1,000,000
Ownership percentage of noncontrolling shareholders (as a percent)							5.00%

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Details) $ in Thousands	Jun. 27, 2015USD ($)
Fair Value of Certain Financial Assets and Liabilities
Financial assets requiring fair value measurements on a recurring basis	$ 0
Financial liabilities requiring fair value measurements on a recurring basis	$ 0

Intangible Assets, Net (Details

Intangible Assets, Net (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 27, 2015USD ($)item	Jun. 28, 2014USD ($)	Mar. 28, 2015USD ($)
Intangible assets, net
Gross Carrying Amount	$ 16,488		$ 16,488
Accumulated Amortization	(10,086)		(9,457)
Net	6,402		7,031
Gross carrying amount	66,600		66,588
Intangible assets, net	56,514		57,131
Amortization expense	$ 629	$ 658
Number of indicators of impairment for goodwill, intangible, and long-lived assets | item	0
Fiscal year
2,016	$ 1,696
2,017	1,771
2,018	777
2,019	438
2,020	342
Thereafter	1,378
Total	6,402
Trademarks
Intangible assets, net
Indefinite-lived intangible assets	50,112		50,100
Trademarks
Intangible assets, net
Gross Carrying Amount	2,490		2,490
Accumulated Amortization	$ (2,490)		$ (2,490)
Weighted Average Useful Life	10 months 24 days		10 months 24 days
Customer list
Intangible assets, net
Gross Carrying Amount	$ 7,300		$ 7,300
Accumulated Amortization	(4,908)		(4,473)
Net	$ 2,392		$ 2,827
Weighted Average Useful Life	5 years		5 years
Non-compete agreements
Intangible assets, net
Gross Carrying Amount	$ 1,380		$ 1,380
Accumulated Amortization	(855)		(788)
Net	$ 525		$ 592
Weighted Average Useful Life	4 years 8 months 12 days		4 years 8 months 12 days
Below-market leases
Intangible assets, net
Below market lease, gross	$ 5,318		$ 5,318
Below market lease, accumulated amortization	(1,833)		(1,706)
Below market lease, net	$ 3,485		$ 3,612
Weighted Average Useful Life	10 years 4 months 24 days		10 years 4 months 24 days

Revolving Credit Facilities a25

Revolving Credit Facilities and Long-Term Debt (Details)	Feb. 23, 2015USD ($)item	Nov. 05, 2014USD ($)	Nov. 04, 2014	Apr. 30, 2014USD ($)	Jun. 27, 2015USD ($)	Jun. 28, 2014USD ($)	Mar. 28, 2015USD ($)	Apr. 15, 2014USD ($)	Apr. 14, 2014USD ($)	Apr. 13, 2014USD ($)	Dec. 11, 2011USD ($)
Revolving credit facilities and long-term debt
Total					$ 101,632,000
Dividends paid				$ 41,300,000		$ 41,300,000
February 2015 Wells Fargo Bank credit facility
Revolving credit facilities and long-term debt
Weighted average interest rate (as a percent)					4.09%
Additional interest rate required if certain triggering events come into existence (as a percent)					2.00%
Limit to aggregate dividend payments					$ 5,000,000
Remaining balance of deferred loan fees					500,000
Interest expense					800,000
February 2015 Wells Fargo Bank credit facility | Interest expense
Revolving credit facilities and long-term debt
Deferred loan fees					600,000
Amortization of debt discount					$ 40,000
February 2015 Wells Fargo Bank credit facility | Federal Funds rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)	0.50%
February 2015 Wells Fargo Bank credit facility | LIBOR
Revolving credit facilities and long-term debt
Basis margin (as a percent)	1.00%
February 2015 Wells Fargo Bank credit facility | Minimum | LIBOR
Revolving credit facilities and long-term debt
Basis margin (as a percent)	2.00%
February 2015 Wells Fargo Bank credit facility | Minimum | Base rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)	1.00%
February 2015 Wells Fargo Bank credit facility | Maximum | LIBOR
Revolving credit facilities and long-term debt
Basis margin (as a percent)	2.75%
February 2015 Wells Fargo Bank credit facility | Maximum | Base rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)	1.75%
Wells Fargo Bank revolving credit facility
Revolving credit facilities and long-term debt
Borrowing capacity	$ 75,000,000
Commitment fee on unused capacity (as a percentage)					0.30%
Outstanding borrowings					$ 27,100,000
Unused borrowing capacity					$ 47,900,000
Wells Fargo Bank revolving credit facility | Minimum
Revolving credit facilities and long-term debt
Commitment fee on unused capacity (as a percentage)					0.25%
Wells Fargo Bank revolving credit facility | Maximum
Revolving credit facilities and long-term debt
Commitment fee on unused capacity (as a percentage)					0.40%
Wells Fargo Bank letters of credit
Revolving credit facilities and long-term debt
Borrowing capacity	5,000,000
Wells Fargo Bank term loan
Revolving credit facilities and long-term debt
Principal amount	75,000,000
Additional incremental term loan capacity	50,000,000
Term loan					$ 74,532,000		$ 75,000,000
Unamortized value of the debt discount					(759,000)		(798,000)
Total					73,773,000		$ 74,202,000
Wells Fargo Bank term loan | Period one
Revolving credit facilities and long-term debt
Periodic payment	$ 468,750
Number of subsequent quarters in which payment is required | item	3
Wells Fargo Bank term loan | Period two
Revolving credit facilities and long-term debt
Periodic payment	$ 937,500
Number of subsequent quarters in which payment is required | item	4
Wells Fargo Bank term loan | Period three
Revolving credit facilities and long-term debt
Periodic payment	$ 1,406,250
Number of subsequent quarters in which payment is required | item	4
Wells Fargo Bank term loan | Period four
Revolving credit facilities and long-term debt
Periodic payment	$ 1,875,000
Revolving credit facility (PNC Bank, N.A.)
Revolving credit facilities and long-term debt
Borrowing capacity								$ 70,000,000	$ 60,000,000
Repayment of line of credit	50,800,000
Interest expense						300,000
Letter of Credit
Revolving credit facilities and long-term debt
Borrowing capacity											$ 5,000,000
$130 million term loan due May 2019 (Golub Capital LLC)
Revolving credit facilities and long-term debt
Principal amount									$ 130,000,000	$ 99,200,000
LIBOR floor rate		1.00%	1.25%
Effective interest rate (as a percent)		6.75%	7.00%
Interest expense						$ 2,200,000
Repayments of loan	47,300,000	$ 81,900,000
Pre-payment penalty	$ 1,100,000
$130 million term loan due May 2019 (Golub Capital LLC) | Interest expense
Revolving credit facilities and long-term debt
Pre-payment penalty		600,000
Amortization of deferred loan fees		$ 1,700,000
2013 Golub Loan and PNC Line of Credit | Interest expense
Revolving credit facilities and long-term debt
Deferred loan fees					$ 1,400,000

Revolving Credit Facilities a26

Revolving Credit Facilities and Long-Term Debt (Details 2) $ in Thousands	Jun. 27, 2015USD ($)
Fiscal year
2,016	$ 1,406
2,017	3,750
2,018	5,625
2,019	7,500
2,020	83,351
Total	$ 101,632

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands	Oct. 29, 2014$ / sharesshares	Oct. 19, 2014$ / sharesshares	Apr. 11, 2014USD ($)$ / sharesshares	Jun. 27, 2015USD ($)item$ / sharesshares	Jun. 28, 2014USD ($)$ / sharesshares	Mar. 28, 2015USD ($)$ / shares	Jan. 27, 2012shares
Stock-Based Compensation
Common stock, par value (in dollars per share)		$ 0.0001		$ 0.0001		$ 0.0001
Cash dividend | $			$ 39,900
Cash payment to holders of vested options | $					$ 1,443
Cash payments | $			41,300		$ 41,300
Retained earnings | $			0	$ 15,997		$ 13,726
Reduction to paid-in capital | $			39,700
Stock Options
Stock-Based Compensation
Grant date fair value, per share				$ 9.86
Assumptions used
Share price (in dollars per share)				$ 31.05
Expected option term				P5Y6M	P6Y6M
Expected volatility factor, minimum				33.30%
Expected volatility factor, maximum				37.10%
Expected volatility factor					56.20%
Risk-free interest rate, minimum				1.60%	1.90%
Risk-free interest rate, maximum				2.00%	2.00%
Expected annual dividend yield				0.00%	0.00%
Stock Options
Outstanding at the beginning of period | shares				2,902,775
Granted | shares				283,613
Exercised | shares				(273,000)
Canceled, forfeited or expired | shares				(100,000)
Outstanding at the end of period | shares				2,813,388
Vested and expected to vest after end of period | shares				2,813,388
Exercisable at end of period | shares				877,105
Grant Date Weighted-Average Exercise Price
Outstanding at the beginning of period				$ 7.56
Granted				26.07
Exercised				4.48
Canceled, forfeited or expired				22.35
Outstanding at the end of period				9.20
Vested and expected to vest at end of period				9.20
Exercisable at end of period				$ 7.05
Weighted Average Remaining Contractual Life
Weighted average remaining contractual life, awards outstanding				7 years 4 months 24 days
Weighted average remaining contractual life, awards vested and expected to vest				7 years 4 months 24 days
Weighted average remaining contractual life, awards exercisable				7 years
Aggregate Intrinsic Value
Aggregate intrinsic value, awards exercised | $				$ 6,079
Aggregate intrinsic value, awards outstanding | $				61,466
Aggregate intrinsic value, awards vested and expected to vest | $				61,466
Aggregate intrinsic value, awards exercisable | $				$ 21,051
2011 Plan | Stock Options
Stock-Based Compensation
Shares authorized | shares							3,750,000
Expiration period				10 years
Vesting period				5 years
Cash payment to holders of vested options | $			$ 1,400
Number of options for which exercise price was lowered | shares			1,918,550
Reduction to exercise price			$ 2
Incremental stock-based compensation expense | $			$ 0
2011 Plan | Stock Options | Members of management
Stock-Based Compensation
Vesting period					5 years
Grant date fair value | $					$ 1,500
Stock Options
Granted | shares					237,500
2011 Plan | Stock Options | Members of management | Minimum
Stock-Based Compensation
Grant date fair value, per share					$ 6.20
Grant Date Weighted-Average Exercise Price
Exercised					11.14
2011 Plan | Stock Options | Members of management | Maximum
Stock-Based Compensation
Grant date fair value, per share					6.36
Grant Date Weighted-Average Exercise Price
Exercised					$ 11.40
2014 Plan | Stock Options | Members of management
Stock-Based Compensation
Vesting period				5 years
Grant date fair value | $				$ 3,200
Stock Options
Granted | shares				283,613
2014 Plan | Stock Options | Members of management | Minimum
Stock-Based Compensation
Grant date fair value, per share				$ 7.49
Grant Date Weighted-Average Exercise Price
Exercised				22.31
2014 Plan | Stock Options | Members of management | Maximum
Stock-Based Compensation
Grant date fair value, per share				15.72
Grant Date Weighted-Average Exercise Price
Exercised				$ 28.82
2014 Plan | Stock Options | CEO
Assumptions used
Share price (in dollars per share)	$ 16
Expected option term	P6Y
Expected volatility factor	55.00%
Risk-free interest rate	1.80%
Expected annual dividend yield	0.00%
Stock Options
Granted | shares	99,650
Grant Date Weighted-Average Exercise Price
Exercised	$ 16
2014 Plan | Restricted Stock and Restricted Stock Units | Employees
Stock-Based Compensation
Grant date fair value | $				$ 1,300
Number of annual, equal installments in which shares granted will vest | item				5
Granted | shares				43,546	0
2014 Plan | Stock Options, Restricted Stock Awards and Restricted Stock Units
Stock-Based Compensation
Shares authorized | shares		1,600,000
Common stock, par value (in dollars per share)		$ 0.0001
Expiration period		8 years
Vesting period		5 years

Stock-Based Compensation (Det28

Stock-Based Compensation (Details 2) - 3 months ended Jun. 27, 2015 - Stock Options - $ / shares	Total
Shares
Nonvested at beginning of period	1,800,170
Granted	283,613
Vested	(47,500)
Nonvested shares forfeited	(100,000)
Nonvested at end of period	1,936,283
Weighted-Average Grant Date Fair Value
Nonvested at beginning of period	$ 4.57
Granted	9.86
Vested	6.28
Nonvested shares forfeited	13.85
Nonvested at end of period	$ 5.01

Stock-Based Compensation (Det29

Stock-Based Compensation (Details 3) - USD ($) $ in Millions	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Stock-Based Compensation
Stock-based compensation expense	$ 0.7	$ 0.4
Stock Options
Information related to unrecognized stock-based compensation expense
Unrecognized stock-based compensation expense	$ 8.5
Weighted-average recognition period	3 years 7 months 6 days
Restricted Stock Awards
Information related to unrecognized stock-based compensation expense
Unrecognized stock-based compensation expense	$ 1.6
Weighted-average recognition period	4 years 7 months 6 days
Cost of goods sold.
Stock-Based Compensation
Stock-based compensation expense	$ 0.1	$ 0.1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Income Taxes
Income tax rate (as a percent)	43.80%	46.80%
Accrued interest and penalties	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	3 Months Ended
	Jun. 27, 2015USD ($)storestockholder	Jun. 28, 2014USD ($)	Mar. 28, 2015store
Related Party Transactions
Number of stores involved in agreement	176		169
Leases and other transactions | Minority Stockholder
Related Party Transactions
Number of stores involved in agreement	1
Number of minority stockholders involved in related party lease agreement | stockholder	1
Leases and other transactions | Minority Stockholder | Maximum | Cost of goods sold.
Related Party Transactions
Lease payments | $	$ 0.1	$ 0.1

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Earnings Per Share
Net income attributed to Boot Barn Holdings, Inc.	$ 2,271	$ 1,409
Less: Cash payment to holders of vested options		(1,443)
Net income available for common stockholders	$ 2,271	$ (34)
Weighted average basic shares outstanding	25,865,000	19,149,000
Dilutive effect of stock options	1,108,000
Weighted average diluted shares outstanding	26,973,000	19,149,000
Basic earnings per share	$ 0.09	$ 0
Diluted earnings per share	$ 0.08	$ 0
Shares that were not included in the computation of weighted average diluted common shares amounts	244,613	848,925

Subsequent Events (Details)

Subsequent Events (Details) - Jun. 29, 2015 - Subsequent Events	USD ($)item
Subsequent Events
Existing indebtedness refinanced	$ 172,000,000
2015 Golub Term Loan
Subsequent Events
Principal amount	$ 200,000,000
Required payment frequency	Quarterly
Principal balance quarterly installments	$ 500,000
2015 Golub Term Loan | Minimum
Subsequent Events
Consolidated total net leverage ratio	5.25
Step down consolidated total net leverage ratio	4
2015 Golub Term Loan | LIBOR
Subsequent Events
LIBOR floor rate	1.00%
Basis margin (as a percent)	4.50%
2015 Golub Term Loan | Base rate
Subsequent Events
Basis margin (as a percent)	3.50%
2015 Golub Term Loan | Federal funds rate
Subsequent Events
Basis margin (as a percent)	0.50%
2015 Golub Term Loan | One-month LIBOR rate
Subsequent Events
Basis margin (as a percent)	1.00%
June 2015 Wells Fargo Revolver
Subsequent Events
Outstanding borrowings	$ 57,000,000
Borrowing capacity	$ 125,000,000
Commitment fee on unused capacity (as a percentage)	0.25%
June 2015 Wells Fargo Revolver | Minimum
Subsequent Events
Consolidated fixed charge coverage ratio	1
June 2015 Wells Fargo Revolver | LIBOR | Minimum
Subsequent Events
Basis margin (as a percent)	1.00%
June 2015 Wells Fargo Revolver | LIBOR | Maximum
Subsequent Events
Basis margin (as a percent)	1.25%
June 2015 Wells Fargo Revolver | Base rate | Minimum
Subsequent Events
Basis margin (as a percent)	0.00%
June 2015 Wells Fargo Revolver | Base rate | Maximum
Subsequent Events
Basis margin (as a percent)	0.25%
June 2015 Wells Fargo Revolver | Federal funds rate
Subsequent Events
Basis margin (as a percent)	0.50%
June 2015 Wells Fargo Revolver | One-month LIBOR rate
Subsequent Events
Basis margin (as a percent)	1.00%
Sheplers
Subsequent Events
Number of retail locations added as a result of acquisition | item	25
Purchase price	$ 147,000,000