Boot Barn (BOOT) 10-Q 5 Aug 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 27, 2020	Aug. 04, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 27, 2020
Entity File Number	001-36711
Entity Registrant Name	Boot Barn Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	90-0776290
Entity Address, Address Line One	15345 Barranca Pkwy
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	949
Local Phone Number	453-4400
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	BOOT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,855,913
Current Fiscal Year End Date	--03-27
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001610250
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 27, 2020	Mar. 28, 2020
Current assets:
Cash and cash equivalents	$ 83,123	$ 69,563
Accounts receivable, net	10,703	12,087
Inventories	261,546	288,717
Prepaid expenses and other current assets	13,475	14,284
Total current assets	368,847	384,651
Property and equipment, net	109,327	109,603
Right-of-use assets, net	164,698	170,243
Goodwill	197,502	197,502
Intangible assets, net	60,952	60,974
Other assets	2,127	1,738
Total assets	903,453	924,711
Current liabilities:
Line of credit	129,900	129,900
Accounts payable	80,702	95,334
Accrued expenses and other current liabilities	49,306	52,612
Short-term lease liabilities	34,955	34,779
Total current liabilities	294,863	312,625
Deferred taxes	20,145	19,801
Long-term portion of notes payable, net	109,212	109,022
Long-term lease liabilities	155,643	160,935
Other liabilities	1,044	635
Total liabilities	580,907	603,018
Commitments and contingencies (Note 7)
Stockholders' equity:
Common stock, $0.0001 par value; June 27, 2020 - 100,000 shares authorized, 28,945 shares issued; March 28, 2020 - 100,000 shares authorized, 28,880 shares issued	3	3
Preferred stock, $0.0001 par value; 10,000 shares authorized, no shares issued or outstanding
Additional paid-in capital	171,077	169,249
Retained earnings	153,151	153,641
Less: Common stock held in treasury, at cost, 91 and 71 shares at June 27, 2020 and March 28, 2020, respectively	(1,685)	(1,200)
Total stockholders' equity	322,546	321,693
Total liabilities and stockholders' equity	$ 903,453	$ 924,711

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 27, 2020	Mar. 28, 2020
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)	28,944,921	28,880,000
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
Common Stock, shares held in treasury (in shares)	91,000	71,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 147,766	$ 185,767
Type of Revenue	us-gaap:ProductMember	us-gaap:ProductMember
Cost of goods sold	$ 107,565	$ 123,611
Type of Cost of Service	us-gaap:ProductMember	us-gaap:ProductMember
Gross profit	$ 40,201	$ 62,156
Selling, general and administrative expenses	38,403	46,095
Income from operations	1,798	16,061
Interest expense, net	2,641	3,904
Other income, net	64	11
(Loss)/income before income taxes	(779)	12,168
Income tax (benefit)/expense	(289)	2,447
Net (loss)/income	$ (490)	$ 9,721
(Loss)/Earnings per share:
Basic shares (in dollars per share)	$ (0.02)	$ 0.34
Diluted shares (in dollars per share)	$ (0.02)	$ 0.33
Weighted average shares outstanding:
Basic shares	28,826	28,380
Diluted shares	28,826	29,025

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Shares	Total
Balance at Mar. 30, 2019	$ 3	$ 159,137	$ 105,692	$ (668)	$ 264,164
Balance (in shares) at Mar. 30, 2019	28,399,000			(51,000)
Increase (Decrease) in Stockholders' Equity
Net (loss)income			9,721		9,721
Issuance of common stock related to stock-based compensation		1,267			1,267
Issuance of common stock related to stock-based compensation (in shares)	143,000
Tax withholding for net share settlement				$ (422)	(422)
Tax withholding for net share settlement (in shares)				(15,000)
Stock-based compensation expense		965			965
Balance at Jun. 29, 2019	$ 3	161,369	115,413	$ (1,090)	275,695
Balance (in shares) at Jun. 29, 2019	28,542,000			(66,000)
Balance at Mar. 28, 2020	$ 3	169,249	153,641	$ (1,200)	321,693
Balance (in shares) at Mar. 28, 2020	28,880,000			(71,000)
Increase (Decrease) in Stockholders' Equity
Net (loss)income			(490)		(490)
Issuance of common stock related to stock-based compensation		4			4
Issuance of common stock related to stock-based compensation (in shares)	65,000
Tax withholding for net share settlement				$ (485)	(485)
Tax withholding for net share settlement (in shares)				(20,000)
Stock-based compensation expense		1,824			1,824
Balance at Jun. 27, 2020	$ 3	$ 171,077	$ 153,151	$ (1,685)	$ 322,546
Balance (in shares) at Jun. 27, 2020	28,945,000			(91,000)	28,853,928

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Cash flows from operating activities
Net (loss)/income	$ (490)	$ 9,721
Adjustments to reconcile net (loss)/income to net cash provided by/(used in) operating activities:
Depreciation	5,688	4,770
Stock-based compensation	1,824	965
Amortization of intangible assets	22	32
Amortization of right-of-use assets	8,277	7,424
Amortization of debt issuance fees and debt discount	221	281
(Gain)/Loss on disposal of property and equipment	(4)	12
Gain on adjustment of right-of-use assets and lease liabilities		(193)
Deferred taxes	344	(1,047)
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable, net	1,872	1,612
Inventories	27,171	(13,161)
Prepaid expenses and other current assets	778	(867)
Other assets	(389)	(274)
Accounts payable	(11,096)	(6,486)
Accrued expenses and other current liabilities	(3,306)	2,719
Other liabilities	409	249
Operating leases	(8,188)	(7,306)
Net cash provided by/(used in) operating activities	23,133	(1,549)
Cash flows from investing activities
Purchases of property and equipment	(8,944)	(6,822)
Net cash used in investing activities	(8,944)	(6,822)
Cash flows from financing activities
Borrowings on line of credit - net		80,001
Repayments on debt and finance lease obligations	(148)	(65,147)
Debt issuance fees paid		(1,203)
Tax withholding payments for net share settlement	(485)	(422)
Proceeds from the exercise of stock options	4	1,267
Net cash (used in)/provided by financing activities	(629)	14,496
Net increase in cash and cash equivalents	13,560	6,125
Cash and cash equivalents, beginning of period	69,563	16,614
Cash and cash equivalents, end of period	83,123	22,739
Supplemental disclosures of cash flow information:
Cash paid for income taxes	10	201
Cash paid for interest	2,696	3,370
Supplemental disclosure of non-cash activities:
Unpaid purchases of property and equipment	$ 2,159	$ 2,879

Description of the Company, Rec

Description of the Company, Recent Developments and Basis of Presentation	3 Months Ended
	Jun. 27, 2020
Business Operations
Description of the Company, Recent Developments and Basis of Presentation	1. Description of the Company, Recent Developments and Basis of Presentation ​ Boot Barn Holdings, Inc. (the “Company”), the parent holding company of the group of operating subsidiaries that conduct the Boot Barn business, 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 28,944,921 issued and 28,853,928 outstanding shares of common stock as of June 27, 2020. The shares of common stock have voting rights of one vote per share. ​ The Company operates specialty retail stores and e-commerce websites 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 264 stores in 36 states as of June 27, 2020 and 259 stores in 35 states as of March 28, 2020. As of June 27, 2020, all stores operate under the Boot Barn name, with the exception of two stores that operate under the “American Worker” name. ​ Recent Developments ​ In December 2019, a novel strain of coronavirus (“COVID-19”) was reported in Wuhan, China. Since first being reported, COVID-19 has spread to numerous countries around the world, including the U.S., resulting in the World Health Organization declaring the outbreak a global pandemic on March 11, 2020. As COVID-19 has continued to spread, public and private sector policies and initiatives intended to reduce the transmission of COVID-19, such as the imposition of travel restrictions, mandates from federal, state and local authorities to avoid large gatherings of people, quarantine or “shelter-in-place”, and the promotion of social distancing have significantly impacted the country. COVID-19 has had and will continue to have a significant impact on economic conditions and consumer confidence. There is significant uncertainty around the breadth and duration of business disruptions related to COVID-19, as well as its impact on the U.S. economy and consumer confidence. These and other effects make it more challenging for us to estimate the future performance of our business, particularly over the near-to-medium term. ​ The extent to which COVID-19 impacts our operations will depend on future developments, which are highly uncertain and difficult to predict, including, among others, the duration of the outbreak, new information that may emerge concerning the severity of COVID-19 and the actions, especially those taken by governmental authorities, to contain the pandemic or treat its impact. As events are rapidly changing, additional impacts may arise that we are not aware of currently. For more information about the risks, uncertainties, and other factors that could affect our future results, please see Item 1A, Risk Factors, of our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”) on May 22, 2020. ​ As a result of COVID-19, traffic at our retail stores significantly declined beginning in the last three weeks of fiscal 2020 and continued through the start of fiscal 2021 as many state and local governments began implementing stay-at-home directives to help prevent the spread of COVID-19. On average, approximately 30 of our 264 stores were closed during the thirteen weeks ended June 27, 2020. Except for temporary store closures due to COVID-19, all of our stores are currently open. As the quarter progressed and stay-at-home directives began to be lifted, the promotion of social distancing continued to impact shopping and events across the country. As a result of COVID-19, we have taken measures, as fully described in our Annual Report on Form 10-K, to preserve liquidity and reduce expenses, while maintaining flexibility to resume full operations once we re-emerge from this global pandemic. While certain of these measures, including temporary salary reductions and most employee furloughs, are no longer in effect as of the date of this report, we continue to closely monitor ongoing developments in connection with the COVID-19 pandemic and its impact on our business. Basis of Presentation ​ The Company’s condensed consolidated financial statements as of and for the thirteen weeks ended June 27, 2020 and June 29, 2019 are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), and include the accounts of the Company and each of its subsidiaries, consisting of Boot Barn, Inc., RCC Western Stores, Inc., Baskins Acquisition Holdings, LLC, Sheplers, Inc. and Sheplers Holding Corporation (collectively with Sheplers, Inc., “Sheplers”). All intercompany accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation. The vast majority of the Company’s identifiable assets are in the United States. 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 27, 2021. ​ 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 1st is a Saturday, in which case the fiscal year ends on April 1st. In a 52-week year, each quarter includes thirteen weeks of operations; in a 53-week fiscal year, the first, second and third quarters each include thirteen weeks of operations and the fourth quarter includes fourteen weeks of operations. Both the fiscal year ending on March 27, 2021

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 27, 2020
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 SEC on May 22, 2020. 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’s retail stores and e-commerce websites represent two operating segments. Given the similar qualitative and economic characteristics of the two operating segments, the Company’s retail stores and e-commerce websites are aggregated into one reporting segment in accordance with guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting ​ 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, lease accounting, 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. ​ Inventories ​ Inventory consists primarily of purchased merchandise and is valued at the lower of cost or net realizable value. Cost is determined on a first-in, first-out basis and includes the cost of merchandise and import-related costs, including freight, duty and agent commissions. The Company assesses the recoverability of inventory through a periodic review of historical usage and present demand. When the inventory on hand exceeds the foreseeable demand, the value of inventory that, at the time of the review, is not expected to be sold at or above cost is written down to its estimated net realizable value. ​ Leases ​ Operating and finance lease liabilities are recognized at the lease commencement date based on the present value of the fixed lease payments using the Company's incremental borrowing rates for its population of leases. Related operating and finance lease right-of-use assets are recognized based on the initial present value of the fixed lease payments, reduced by cash payments received from landlords as lease incentives, plus any prepaid rent and other direct costs from executing the leases. Amortization of both operating and finance lease right-of-use assets is performed on a straight-line basis and recorded as part of rent expense in selling, general and administrative expenses on the condensed consolidated statements of operations. The interest expense amortization component of the finance lease liabilities is recorded within interest expense on the condensed consolidated statements of operations. ​ Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Variable lease payments are recognized as lease expense as they are incurred. ​ Fair Value of Certain Financial Assets and Liabilities ​ The Company follows FASB ASC Topic 820, Fair Value Measurements and Disclosures ​ ● 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 and the evaluation of store impairment. ​ Cash and cash equivalents, accounts receivable and accounts payable 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 respective relatively short maturity dates or duration. ​ Although market quotes for the fair value of the outstanding debt arrangements discussed in Note 5, “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 ​ Recently Adopted Accounting Pronouncements ​ In January 2017, the FASB issued ASU No. 2017-04, Intangibles — Goodwill and Other: Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), which simplifies the accounting for goodwill impairment by eliminating step two from the goodwill impairment test. Under this new guidance, if the carrying amount of a reporting unit exceeds its estimated fair value, an impairment charge shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The amendments in ASU 2017-04 are effective prospectively for fiscal years and interim periods within those years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the revised standard to have a material impact on the consolidated financial statements. Revenue Recognition Revenue is recorded for store sales upon the purchase of merchandise by customers. Sales are recorded net of taxes collected from customers. Transfer of control takes place at the point at which the customer receives and pays for the merchandise at the register. E-commerce sales are recorded when control transfers to the customer, which generally occurs upon delivery of the product. Shipping and handling revenues are included in total net sales. Shipping costs incurred by the Company are included in cost of goods sold. The Company maintains a customer loyalty program. Under the program, customers accumulate points based on purchase activity. For customers to maintain their active point balance, they must make a qualifying purchase of merchandise at least once in a 365-day period. Once a loyalty program member achieves a certain point level, the member earns awards that may be redeemed for credits on merchandise purchases. To redeem awards, the member must make a qualifying purchase of merchandise within 60 days of the date the award was granted. Unredeemed awards and accumulated partial points are accrued as unearned revenue until redemption or expiration and, upon redemption and expiration, as an adjustment to net sales using the relative standalone selling price method. The unearned revenue for this program is recorded in accrued expenses and other current liabilities on the consolidated balance sheets and was $1.8 million as of June 27, 2020 and $2.0 million as of June 29, 2019. The following table provides a reconciliation of the activity related to the Company’s customer loyalty program: ​ ​ ​ ​ ​ ​ ​ ​ Customer Loyalty Program ​ ​ ​ ​ ​ (in thousands) June 27, 2020 ​ June 29, 2019 Beginning balance as of March 28, 2020 and March 30, 2019, respectively $ 2,076 ​ $ 1,936 Year-to-date provisions ​ ​ 341 ​ ​ 1,468 Year-to-date award redemptions ​ ​ (659) ​ ​ (1,378) Ending balance ​ $ 1,758 ​ $ 2,026 ​ Revenue is recorded net of estimated and actual sales returns and deductions for coupon redemptions, estimated future award redemption and other promotions. The sales returns reserve reflects an estimate of sales returns based on projected merchandise returns determined through the use of historical average return percentages. The total reserve for returns is recorded in accrued expenses and other current liabilities in the consolidated balance sheets. The Company accounts for the asset and liability separately on a gross basis. Proceeds from the sale of gift cards are deferred until the customers use the cards to acquire merchandise. Gift cards, gift certificates and store credits do not have expiration dates, and unredeemed gift cards, gift certificates and store credits are subject to state escheatment laws. Amounts remaining after escheatment are recognized in net sales in the period escheatment occurs and the liability is considered to be extinguished. The Company defers recognition of a layaway sale and its related profit to the accounting period when the customer receives the layaway merchandise. Income from the redemption of gift cards, gift card breakage, and the sale of layaway merchandise is included in net sales. The following table provides a reconciliation of the activity related to the Company’s gift card program: ​ ​ ​ ​ ​ ​ ​ ​ Gift Card Program ​ ​ ​ ​ ​ (in thousands) June 27, 2020 ​ June 29, 2019 Beginning balance as of March 28, 2020 and March 30, 2019, respectively $ 10,118 ​ $ 8,796 Year-to-date issued ​ ​ 2,091 ​ ​ 2,395 Year-to-date redemptions ​ ​ (2,007) ​ ​ (2,594) Ending balance ​ $ 10,202 ​ $ 8,597 ​ Disaggregated Revenue The Company disaggregates net sales into the following major merchandise categories: ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended % of Net Sales ​ June 27, 2020 ​ June 29, 2019 Footwear ​ 59% ​ 52% Apparel ​ ​ 28% ​ 32% Hats, accessories and other ​ ​ 13% ​ 16% Total ​ ​ 100% ​ 100% ​ The Company further disaggregates net sales between stores and e-commerce: ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended % of Net Sales ​ June 27, 2020 ​ June 29, 2019 Stores ​ 75% ​ 86% E-commerce ​ ​ 25% ​ 14% Total ​ ​ 100% ​ 100% ​

Asset Acquisition and Business

Asset Acquisition and Business Combination	3 Months Ended
	Jun. 27, 2020
Asset Acquisition and Business Combination
Asset Acquisition and Business Combination	3. Asset Acquisition and Business Combinations G.&L. Clothing, Inc. On August 26, 2019, Boot Barn, Inc. completed the acquisition of G.&L. Clothing, Inc. (“G.&L. Clothing”), an individually-owned retailer operating one store in Des Moines, Iowa. As part of the transaction, Boot Barn, Inc. purchased the inventory, entered into new leases with the store’s landlord and offered employment to the G.&L. Clothing team. The primary reason for the acquisition of G.&L. Clothing was to further expand the Company’s retail operations in Iowa. The cash consideration paid for the acquisition was $3.7 million. In allocating the purchase price, the Company recorded all assets acquired and liabilities assumed at fair value. The total fair value of consideration transferred for the acquisition was allocated to the net tangible and intangible assets based upon their estimated fair values as of the date of the acquisition of G.&L. Clothing. The excess of the purchase price over the net tangible and intangible assets was recorded as goodwill. The goodwill and intangibles are deductible for income tax purposes. The Company determined the estimated fair values using Level 3 inputs after review and consideration of relevant information, including quoted market prices and estimates made by management. The inventory was valued using the comparative sales method. Property and equipment, net, customer list and merchandise credits and other current liabilities were valued under either the cost or income approach. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date based on the purchase price allocation: ​ ​ ​ ​ ​ (in thousands) At August 26, 2019 Assets acquired: ​ ​ ​ Inventory $ 2,361 Property & equipment, net ​ ​ 64 Customer list ​ ​ 345 Right-of-use asset, net ​ ​ 1,946 Goodwill ​ ​ 1,644 Total assets acquired ​ $ 6,360 ​ ​ ​ ​ Liabilities assumed: ​ Merchandise credits and other current liabilities ​ $ 169 Short-term lease liability ​ ​ 129 Long-term lease liability ​ ​ 2,374 Total liabilities assumed ​ ​ 2,672 Net assets acquired ​ $ 3,688 ​

Intangible Assets, Net and Good

Intangible Assets, Net and Goodwill	3 Months Ended
	Jun. 27, 2020
Intangible Assets, Net and Goodwill
Intangible Assets, Net and Goodwill	4. Intangible Assets, Net and Goodwill ​ Net intangible assets as of June 27, 2020 and March 28, 2020 consisted of the following (in thousands, except for weighted average useful life): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 27, 2020 ​ ​ Gross ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (75) ​ $ 270 5.0 Trademarks—definite lived ​ ​ 15 ​ ​ (10) ​ ​ 5 ​ 3.0 Total definite lived ​ 360 ​ (85) ​ 275 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (85) ​ $ 60,952 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 28, 2020 ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (54) ​ $ 291 5.0 Trademarks-definite lived ​ ​ 15 ​ ​ (9) ​ ​ 6 ​ 3.0 Total definite lived ​ 360 ​ (63) ​ 297 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (63) ​ $ 60,974 ​ ​ ​ Amortization expense for intangible assets totaled less than $0.1 million for both the thirteen weeks ended June 27, 2020 and June 29, 2019, and is included in selling, general and administrative expenses. ​ As of June 27, 2020, estimated future amortization of intangible assets was as follows: ​ ​ ​ ​ ​ Fiscal Year (in thousands) 2021 $ 67 2022 ​ 72 2023 ​ 62 2024 ​ 54 2025 ​ 20 Thereafter ​ - Total ​ $ 275 ​ The Company performs its annual goodwill impairment assessment on the first day of the fourth fiscal quarter, or more frequently if it believes that indicators of impairment exist. The Company’s goodwill balance was $197.5 million as of both June 27, 2020 and March 28, 2020. As of June 27, 2020, the Company had identified no indicators of impairment with respect to its goodwill and intangible asset balances. During both the thirteen weeks ended June 27, 2020 and June 29, 2019, the Company did not record any long-lived asset impairment charges.

Revolving Credit Facilities and

Revolving Credit Facilities and Long-Term Debt	3 Months Ended
	Jun. 27, 2020
Revolving Credit Facilities and Long-Term Debt
Revolving Credit Facilities and Long-Term Debt	5. Revolving Credit Facilities and Long-Term Debt ​ On June 29, 2015, the Company, as guarantor, and its wholly-owned primary operating subsidiary, Boot Barn, Inc., refinanced a previous Wells Fargo credit facility with the $125.0 million syndicated senior secured asset-based revolving credit facility for which Wells Fargo Bank, National Association (“June 2015 Wells Fargo Revolver”), is agent, and the $200.0 million syndicated senior secured term loan for which GCI Capital Markets LLC (“2015 Golub Term Loan”) is agent. The borrowing base of the June 2015 Wells Fargo Revolver is calculated on a monthly basis and is based on the amount of eligible credit card receivables, commercial accounts, inventory, and available reserves. ​ Borrowings under the June 2015 Wells Fargo Revolver bear interest at per annum rates equal to, at the Company’s option, either (i) London Interbank Offered Rate (“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 0.5%, (b) the Wells Fargo prime rate and (c) one-month LIBOR plus 1.0%. The applicable margin is calculated based on a pricing grid that in each case is linked to quarterly average excess availability. For LIBOR Loans, the applicable margin ranges from 1.00% to 1.25%, and for base rate loans it ranges from 0.00% to 0.25%. The Company also pays 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 ending on the maturity date. On May 26, 2017, the Company entered into an amendment to the June 2015 Wells Fargo Revolver (the “2017 Wells Amendment”), increasing the aggregate revolving credit facility to $135.0 million and extending the maturity date to the earlier of May 26, 2022 or 90 days prior to the previous maturity of the 2015 Golub Term Loan, which was then scheduled to mature on June 29, 2021. On June 6, 2019, the Company entered into Amendment No. 3 to the Credit Agreement (the “2019 Wells Amendment”), further increasing the aggregate revolving credit facility to $165.0 million and extending the maturity date to the earlier of June 6, 2024 or 90 days prior to the maturity of the 2015 Golub Term Loan, which is currently scheduled to mature on June 29, 2023. The 2019 Wells Amendment further made changes to the 2015 Wells Fargo Revolver in connection with the transition away from LIBOR as the benchmark rate. The amount outstanding under the June 2015 Wells Fargo Revolver as of both June 27, 2020 and March 28, 2020 was $129.9 million. Total interest expense incurred in the thirteen weeks ended June 27, 2020 on the June 2015 Wells Fargo Revolver was $0.6 million and the weighted average interest rate for the thirteen weeks ended June 27, 2020 was 1.7%. Total interest expense incurred in the thirteen weeks ended June 29, 2019 on the June 2015 Wells Fargo Revolver was $0.6 million and the weighted average interest rate for the thirteen weeks ended June 29, 2019 was 3.8%. ​ Borrowings under the 2015 Golub Term Loan bear interest at per annum rates equal to, at the Company’s option, either (a) LIBOR plus an applicable margin for LIBOR loans with a LIBOR floor of 1.0%, or (b) the base rate plus an applicable margin for base rate loans. The base rate is calculated as the greater of (i) the higher of (x) the prime rate and (y) the federal funds rate plus 0.5% and (ii) the sum of one-month LIBOR plus 1.0%. The applicable margin is 4.5% for LIBOR Loans and 3.5% for base rate loans. The principal and interest on the 2015 Golub Term Loan is payable in quarterly installments ending on the maturity date, which was originally June 29, 2021 but is now June 29, 2023. Quarterly principal payments of $500,000 are due for each quarter; however, on June 2, 2017, the Company prepaid $10.0 million on the 2015 Golub Term Loan, which included all of the required quarterly principal payments until the maturity date of the loan. On May 15, 2018, the Company made an additional $10.0 million prepayment on the 2015 Golub Term Loan. On June 6, 2019, the Company entered into the Third Amendment to the 2015 Golub Term Loan (the “2019 Golub Amendment”) which extended the maturity date to June 29, 2023. At the time of the Third Amendment, the company also prepaid $65.0 million of the term loan facility, reducing the outstanding principal balance to $111.5 million. The 2019 Golub Amendment further made changes to the 2015 Golub Term Loan in connection with the transition away from LIBOR as the benchmark rate. Total interest expense incurred in the thirteen weeks ended June 27, 2020 on the 2015 Golub Term Loan was $1.6 million and the weighted average interest rate for the thirteen weeks ended June 27, 2020 was 5.8%. Total interest expense incurred in the thirteen weeks ended June 29, 2019 on the 2015 Golub Term Loan was $2.9 million and the weighted average interest rate for the thirteen weeks ended June 29, 2019 was 7.1%. ​ 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 of at least 1.00:1.00 during such times as a covenant trigger event shall exist. On May 26, 2017, the Company entered into an amendment to the 2015 Golub Term Loan (the “2017 Golub Amendment”). The 2017 Golub Amendment changed the maximum Consolidated Total Net Leverage Ratio requirements to 4.00:1.00 as of December 29, 2018 and for all subsequent periods. The 2019 Golub Amendment maintains the same maximum Consolidated Total Net Leverage Ratio requirements. The June 2015 Wells Fargo Revolver and 2015 ​ Debt Issuance Costs and Debt Discount ​ Debt issuance costs totaling $1.2 million were incurred under the June 2015 Wells Fargo Revolver, 2017 Wells Amendment and 2019 Wells Amendment and are included as assets on the condensed consolidated balance sheets in prepaid expenses and other current assets. Total unamortized debt issuance costs were $0.3 million and $0.4 million as of June 27, 2020 and March 28, 2020, respectively. These amounts are being amortized to interest expense over the term of the June 2015 Wells Fargo Revolver. ​ Debt issuance costs and debt discount totaling $7.1 million were incurred under the 2015 Golub Term Loan, 2017 Golub Amendment and 2019 Golub Amendment and are included as a reduction of the current and non-current notes payable on the condensed consolidated balance sheets. Total unamortized debt issuance costs and debt discount were $2.3 million and $2.5 million as of June 27, 2020 and March 28, 2020, respectively. These amounts are being amortized to interest expense over the term of the 2015 Golub Term Loan. ​ The following sets forth the balance sheet information related to the term loan: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 27, ​ March 28, (in thousands) 2020    2020 Term Loan ​ $ 111,500   ​ $ 111,500 Unamortized value of the debt issuance costs and debt discount ​ ​ (2,288) ​ ​ (2,478) Net carrying value ​ $ 109,212 ​ $ 109,022 ​ Total amortization expense of $0.2 million and $0.3 million related to the June 2015 Wells Fargo Revolver and 2015 Golub Term Loan is included as a component of interest expense in the thirteen weeks ended June 27, 2020 and June 29, 2019, respectively. ​ Aggregate Contractual Maturities ​ Aggregate contractual maturities for the Company’s long-term debt as of June 27, 2020 are as follows: ​ ​ ​ ​ ​ Fiscal Year ​ (in thousands) 2021 $ — 2022 ​ — 2023 ​ — 2024 ​ 111,500 Total ​ $ 111,500 ​

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jun. 27, 2020
Stock-Based Compensation
Stock-Based Compensation	6. 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 exercisable for up to a total of 3,750,000 shares of common stock. As of June 27, 2020, 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, which was amended as of August 24, 2016 (as amended, the “2014 Plan”). Following the approval of the 2014 Plan, no further grants have been made under the 2011 Plan. The 2014 Plan authorizes the Company to issue awards to employees, consultants and directors for up to a total of 3,600,000 shares of common stock. As of June 27, 2020, all awards granted by the Company under the 2014 Plan to date have been nonqualified stock options, restricted stock awards, restricted stock units or performance share units. Options granted under the 2014 Plan have a life of eight four one one four ​ Non-Qualified Stock Options ​ During the thirteen weeks ended June 27, 2020, the Company granted certain members of management options to purchase a total of 264,535 shares under the 2014 Plan. The total grant date fair value of stock options granted during the thirteen weeks ended June 27, 2020 was $2.8 million, with grant date fair values of $10.40 to $11.10 per share. The Company is recognizing the expense relating to these stock options on a straight-line basis over the four-year service period of the awards. The exercise price of these awards is either $20.94 or $24.08 per share. ​ During the thirteen weeks ended June 29, 2019, the Company granted its Chief Executive Officer ("CEO") an option to purchase 227,273 shares of common stock under the 2014 Plan. This option contains both service and market vesting conditions. Vesting of this option is contingent upon the market price of the Company's common stock achieving three stated price targets for 30 consecutive trading days on or prior to the fourth anniversary of the date of grant and the CEO’s continued service (subject to certain exceptions). If the first market price target is met, 33% of the option granted will cliff vest on the fourth anniversary of the date of grant, with an additional 33% of the option vesting if the second market price target is met, and the last 34% of the option vesting if the final market price target is met. During fiscal 2020, the first market price target was met, and as such, 33% of the option or 75,000 shares will cliff vest on the fourth anniversary of the date of grant, subject to the applicable service conditions. The total grant date fair value of this option was $2.0 million, with a grant date fair value of $8.80 per share. The Company is recognizing the expense relating to this stock option on a straight-line basis over the four-year service period. The exercise price of this award is $28.63 per share. The fair value of the option was estimated using a Monte Carlo simulation model. The following significant assumptions were used as of May 20, 2019, the date of grant: ​ ​ ​ ​ ​ ​ Stock price $ 28.63 Exercise price ​ $ 28.63 ​ Expected option term ​ 7.0 years Expected volatility ​ 35.3 % Risk-free interest rate ​ ​ 2.3 % Expected annual dividend yield ​ ​ 0 % ​ ​ During the thirteen weeks ended June 29, 2019, the Company granted certain members of management options to purchase a total of 116,952 shares under the 2014 Plan. The total grant date fair value of stock options granted during the thirteen weeks ended June 29, 2019 was $1.3 million, with a grant date fair value of $11.19 per share. The Company is recognizing the expense relating to these stock options on a straight-line basis over the four-year service period of the awards. The exercise price of these awards is $28.63 per share. ​ The stock option awards discussed above 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 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, 2020 and June 29, 2019 were estimated on the grant dates using the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ ​ ​ ​ June 27, ​ ​ June 29, ​ ​ ​ ​ 2020 ​ 2019 Expected option term (1) ​ ​ ​ ​ 6.3 years ​ ​ 6.3 - 7.0 years ​ Expected volatility factor (2) ​ ​ ​ ​ 57.0 % ​ 35.3 % - 35.6 % ​ Risk-free interest rate (3) ​ ​ ​ ​ 0.4 % ​ ​ ​ ​ 2.3 % ​ Expected annual dividend yield ​ ​ ​ ​ 0 % ​ ​ ​ ​ 0 % ​ (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 stock and its 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. ​ 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 following table summarizes the stock award activity for the thirteen weeks ended June 27, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Date ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ Aggregate ​ ​ Stock ​ Average ​ Remaining ​ Intrinsic ​ Options Exercise Price Contractual Life Value ​ ​ ​ ​ ​ ​ ​ (in years) ​ (in thousands) Outstanding at March 28, 2020 1,221,223 ​ $ 19.96 ​ ​ ​ ​ ​ Granted 264,535 ​ $ 22.41 ​ ​ ​ ​ ​ Exercised ​ (630) ​ $ 6.84 ​ ​ ​ $ 10 Cancelled, forfeited or expired (7,494) ​ $ 16.92 ​ ​ ​ ​ ​ Outstanding at June 27, 2020 1,477,634 ​ $ 20.42 6.6 ​ $ 4,846 Vested and expected to vest after June 27, 2020 1,477,634 ​ $ 20.42 6.6 ​ $ 4,846 Exercisable at June 27, 2020 522,264 ​ $ 18.37 4.3 ​ $ 2,335 ​ A summary of the status of non-vested stock options as of June 27, 2020 including changes during the thirteen weeks ended June 27, 2020 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ Shares Fair Value Nonvested at March 28, 2020 931,257 ​ $ 6.90 Granted 264,535 ​ $ 10.77 Vested (232,928) ​ $ 5.76 Nonvested shares forfeited (7,494) ​ $ 7.39 Nonvested at June 27, 2020 955,370 ​ $ 8.26 ​ Restricted Stock Units ​ During the thirteen weeks ended June 27, 2020, the Company granted 167,461 restricted stock units to various directors and employees under the 2014 Plan. The shares granted to employees vest in four ​ During the thirteen weeks ended June 29, 2019, the Company granted 89,985 restricted stock units to various directors and employees under the 2014 Plan. The shares granted to employees vest in four first anniversary of the date of grant. The grant date fair value of these awards for the thirteen weeks ended June 29, 2019 totaled $2.6 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. ​ Performance Share Units ​ During the thirteen weeks ended June 27, 2020, the Company did not grant any performance share units. ​ During the thirteen weeks ended June 29, 2019, the Company granted 38,546 performance share units to various employees under the 2014 Plan with a grant date fair value of $28.63 per share. ​ The performance share units granted are stock-based awards in which the number of shares ultimately received depends on the Company's performance against its cumulative earnings per share target over a three-year performance period beginning March 31, 2019 and ending March 26, 2022. These performance metrics were established by the Company at the beginning of the performance period. At the end of the performance period, the number of performance shares to be issued is fixed based upon the degree of achievement of the performance goals. If the cumulative three-year performance goals are below the threshold level, the number of performance units to vest will be 0%, if the performance goals are at the threshold level, the number of performance units to vest will be 50% of the target amounts, if the performance goals are at the target level, the number of performance units to vest will be 100% of the target amounts, and if the performance goals are at the maximum level, the number of performance units to vest will be 200% of the target amounts, each subject to continued service through the last day of the performance period (subject to certain exceptions). If performance is between threshold and target goals or between target and maximum goals, the number of performance units to vest will be determined by linear interpolation. The number of shares ultimately issued can range from 0% to 200% of the participant's target award. ​ The grant date fair value of the performance share units granted during the thirteen weeks ended June 29, 2019 was initially measured using the Company's closing stock price on the date of grant with the resulting stock compensation expense recognized on a straight-line basis over the three-year vesting period. The expense recognized over the vesting period is adjusted up or down on a quarterly basis based on the anticipated performance level during the performance period. If the performance metrics are not probable of achievement during the performance period, stock compensation expense would be reversed. The awards are forfeited if the threshold performance goals are not achieved as of the end of the performance period. ​ Stock-Based Compensation Expense ​ Stock-based compensation expense was $1.8 million and $1.0 million for the thirteen weeks ended June 27, 2020 and June 29, 2019, respectively. Stock-based compensation expense of $0.6 million and $0.1 million was recorded in cost of goods sold in the condensed consolidated statements of operations for the thirteen weeks ended June 27, 2020 and June 29, 2019, 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, 2020, there was $6.5 million of total unrecognized stock-based compensation expense related to unvested stock options, with a weighted-average remaining recognition period of 2.72 years. As of June 27, 2020, there was $5.5 million of total unrecognized stock-based compensation expense related to restricted stock units, with a weighted-average remaining recognition period of 2.80 years. As of June 27, 2020, there was $0.5 million of total unrecognized stock-based compensation expense related to performance share units, with a weighted-average remaining recognition period of 1.77 years.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 27, 2020
Commitments and Contingencies
Commitments and Contingencies	7. 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 ​ On May 8, 2019, Sheplers, Inc., a wholly-owned subsidiary of the Company, was named as defendant in a class-action complaint filed in the Superior Court of California, County of Los Angeles. Among other things, the complaint generally alleges deceptive pricing on merchandise sold in Sheplers’ e-commerce site. The estimated cost of the matter has been accrued as of June 27, 2020. ​ The Company is also subject to certain other pending or threatened litigation matters incidental to its business. 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 condensed consolidated balance sheets as the impact is expected to be immaterial.

Leases

Leases	3 Months Ended
	Jun. 27, 2020
Leases
Leases	8. Leases ​ The Company does not own any real estate. Instead, most of its retail store locations are occupied under operating leases. The store leases generally have a base lease term of five , on average, exercisable at the Company’s option. The Company is generally responsible for the payment of property taxes and insurance, utilities and common area maintenance fees. Some leases also require additional payments based on percentage of sales. Lease terms include the non-cancellable portion of the underlying leases along with any reasonably certain lease periods associated with available renewal periods, termination options and purchase options. ​ Operating and finance lease liabilities are recognized at the lease commencement date based on the present value of the fixed lease payments using the Company's incremental borrowing rates for its population of leases. Related operating and finance lease ROU assets are recognized based on the initial present value of the fixed lease payments, reduced by cash payments received from landlords as lease incentives, plus any prepaid rent and other direct costs from executing the leases. Amortization of both operating and finance lease ROU assets is performed on a straight-line basis and recorded as part of rent expense in selling, general and administrative expenses on the condensed consolidated statements of operations. The interest expense amortization component of the finance lease liabilities is recorded within interest expense on the condensed consolidated statements of operations. ROU assets are tested for impairment in the same manner as long-lived assets. ​ Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Variable lease payments are recognized as lease expense as they are incurred. ​ ROU assets and lease liabilities as of June 27, 2020 and March 28, 2020 consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet Classification ​ June 27, 2020 ​ March 28, 2020 Assets ​ ​ ​ ​ ​ ​ ​ ​ Finance lease assets ​ Right-of-use assets, net ​ $ 10,217 ​ $ 10,444 Operating lease assets ​ Right-of-use assets, net ​ 154,481 ​ 159,799 Total lease assets ​ ​ ​ $ 164,698 ​ $ 170,243 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Short-term lease liabilities ​ $ 1,029 ​ $ 1,019 Operating ​ Short-term lease liabilities ​ ​ 33,926 ​ ​ 33,760 Total short-term lease liabilities ​ ​ ​ $ 34,955 ​ $ 34,779 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-Current ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Long-term lease liabilities ​ $ 12,795 ​ $ 12,954 Operating ​ Long-term lease liabilities ​ ​ 142,848 ​ ​ 147,981 Total long-term lease liabilities ​ ​ ​ $ 155,643 ​ $ 160,935 Total lease liabilities ​ ​ ​ $ 190,598 ​ $ 195,714 ​ Total lease costs for the thirteen weeks ended June 27, 2020 and June 29, 2019 were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Thirteen Weeks Ended ​ (in thousands) Statement of Operations Classification June 27, 2020 ​ ​ June 29, 2019 ​ Finance lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ Cost of goods sold ​ $ 229 ​ ​ $ 179 ​ Interest on lease liabilities ​ Interest expense, net ​ ​ 187 ​ ​ ​ 188 ​ Total finance lease cost ​ ​ ​ $ 416 ​ ​ $ 367 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ Cost of goods sold ​ $ 10,652 ​ ​ $ 9,528 * Operating lease cost ​ Selling, general and administrative expenses ​ ​ 234 ​ ​ ​ 433 * Short-term lease cost ​ Selling, general and administrative expenses ​ ​ 459 ​ ​ ​ 566 ​ Variable lease cost ​ Selling, general and administrative expenses ​ ​ 419 ​ ​ ​ 564 ​ Sublease income ​ Cost of goods sold ​ ​ (156) ​ ​ ​ — ​ Total lease cost ​ ​ ​ $ 12,024 ​ ​ $ 11,458 ​ *Amounts corrected from $9,094 and $867, respectively, as previously reported. ​ The following table summarizes future lease payments as of June 27, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases Fiscal Year ​ (in thousands) ​ (in thousands) 2021 ​ $ 33,469 ​ $ 1,010 2022 ​ 39,768 ​ 1,353 2023 ​ 34,589 ​ 1,294 2024 ​ ​ 28,294 ​ ​ 1,264 2025 ​ ​ 22,854 ​ ​ 1,220 Thereafter ​ 39,618 ​ 14,044 Total ​ ​ 198,592 ​ ​ 20,185 Less: Imputed interest ​ ​ (21,818) ​ ​ (6,361) Present value of net lease payments ​ $ 176,774 ​ $ 13,824 ​ The following table includes supplemental lease information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Thirteen Weeks Ended ​ Supplemental Cash Flow Information (dollars in thousands) ​ June 27, 2020 ​ ​ June 29, 2019 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 10,920 ​ ​ $ 10,026 ​ Operating cash flows from finance leases ​ 1 ​ ​ 188 ​ Financing cash flows from finance leases ​ ​ 619 ​ ​ ​ 146 ​ ​ ​ $ 11,540 ​ ​ $ 10,360 ​ Lease liabilities arising from new right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 2,536 ​ ​ $ 5,594 ​ Finance leases ​ $ — ​ ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term (in years) ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.3 ​ ​ ​ 8.0 ​ Finance leases ​ ​ 21.4 ​ ​ ​ 11.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.3 % ​ ​ 6.4 % Finance leases ​ ​ 12.1 % ​ ​ 10.3 % ​

Income Taxes

Income Taxes	3 Months Ended
	Jun. 27, 2020
Income Taxes
Income Taxes	9. Income Taxes ​ The Company accounts for income taxes in accordance with ASC 740, Income Taxes ​ The income tax rate was 37.1% and 20.1% for the thirteen weeks ended June 27, 2020 and June 29, 2019, respectively. The tax rate for the thirteen weeks ended June 27, 2020 was higher than the tax rate for the thirteen weeks ended June 29, 2019, primarily due to a return to provision of less than $0.1 million for the thirteen weeks ended June 27, 2020. Valuation allowances are established, when necessary, to reduce deferred income tax assets to the amounts expected to be realized. To this end, the Company has considered and evaluated its sources of taxable income, including forecasted future taxable income, and has concluded that a valuation allowance is not required as of June 27, 2020. The Company will continue to evaluate the need for a valuation allowance at each period end. ​ 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, 2020 and March 28, 2020, 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, 2020, 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, 2020
Related Party Transactions
Related Party Transactions	10. Related Party Transactions ​ During the thirteen weeks ended June 27, 2020 and June 29, 2019, the Company had capital expenditures with Floor & Decor Holdings, Inc., a specialty retail vendor in the flooring market. These capital expenditures amounted to less than $0.1 million in both the thirteen weeks ended June 27, 2020 and June 29, 2019, and were recorded as property and equipment, net on the condensed consolidated balance sheets. Certain members of the Company’s board of directors either currently serve on the board of directors or as an executive officer at Floor & Decor Holdings, Inc.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jun. 27, 2020
Earnings Per Share
Earnings Per Share	11. Earnings Per Share ​ Earnings per share is computed under the provisions of FASB ASC Topic 260, Earnings Per Share ​ The components of basic and diluted (loss)/earnings per share of common stock, in aggregate, for the thirteen weeks ended June 27, 2020 and June 29, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ ​ June 27, ​ June 29, ​ (in thousands, except per share data) 2020 2019 Net (loss)/income ​ $ (490) ​ $ 9,721 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic shares outstanding ​ 28,826 ​ 28,380 ​ Dilutive effect of options and restricted stock ​ — ​ 645 ​ Weighted average diluted shares outstanding ​ 28,826 ​ 29,025 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic (loss)/earnings per share ​ $ (0.02) ​ $ 0.34 ​ Diluted (loss)/earnings per share ​ $ (0.02) ​ $ 0.33 ​ ​ Options to purchase 1,477,634 shares and 730,581 shares of common stock were outstanding during the thirteen weeks ended June 27, 2020 and June 29, 2019, respectively, but were not included in the computation of weighted average diluted shares of common stock outstanding as the effect of doing so would have been anti-dilutive.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 27, 2020
Summary of Significant Accounting Policies
Recent Developments	Recent Developments ​ In December 2019, a novel strain of coronavirus (“COVID-19”) was reported in Wuhan, China. Since first being reported, COVID-19 has spread to numerous countries around the world, including the U.S., resulting in the World Health Organization declaring the outbreak a global pandemic on March 11, 2020. As COVID-19 has continued to spread, public and private sector policies and initiatives intended to reduce the transmission of COVID-19, such as the imposition of travel restrictions, mandates from federal, state and local authorities to avoid large gatherings of people, quarantine or “shelter-in-place”, and the promotion of social distancing have significantly impacted the country. COVID-19 has had and will continue to have a significant impact on economic conditions and consumer confidence. There is significant uncertainty around the breadth and duration of business disruptions related to COVID-19, as well as its impact on the U.S. economy and consumer confidence. These and other effects make it more challenging for us to estimate the future performance of our business, particularly over the near-to-medium term. ​ The extent to which COVID-19 impacts our operations will depend on future developments, which are highly uncertain and difficult to predict, including, among others, the duration of the outbreak, new information that may emerge concerning the severity of COVID-19 and the actions, especially those taken by governmental authorities, to contain the pandemic or treat its impact. As events are rapidly changing, additional impacts may arise that we are not aware of currently. For more information about the risks, uncertainties, and other factors that could affect our future results, please see Item 1A, Risk Factors, of our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”) on May 22, 2020. ​ As a result of COVID-19, traffic at our retail stores significantly declined beginning in the last three weeks of fiscal 2020 and continued through the start of fiscal 2021 as many state and local governments began implementing stay-at-home directives to help prevent the spread of COVID-19. On average, approximately 30 of our 264 stores were closed during the thirteen weeks ended June 27, 2020. Except for temporary store closures due to COVID-19, all of our stores are currently open. As the quarter progressed and stay-at-home directives began to be lifted, the promotion of social distancing continued to impact shopping and events across the country. As a result of COVID-19, we have taken measures, as fully described in our Annual Report on Form 10-K, to preserve liquidity and reduce expenses, while maintaining flexibility to resume full operations once we re-emerge from this global pandemic. While certain of these measures, including temporary salary reductions and most employee furloughs, are no longer in effect as of the date of this report, we continue to closely monitor ongoing developments in connection with the COVID-19 pandemic and its impact on our business.
Basis of Presentation	Basis of Presentation ​ The Company’s condensed consolidated financial statements as of and for the thirteen weeks ended June 27, 2020 and June 29, 2019 are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), and include the accounts of the Company and each of its subsidiaries, consisting of Boot Barn, Inc., RCC Western Stores, Inc., Baskins Acquisition Holdings, LLC, Sheplers, Inc. and Sheplers Holding Corporation (collectively with Sheplers, Inc., “Sheplers”). All intercompany accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation. The vast majority of the Company’s identifiable assets are in the United States. 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 27, 2021.
Fiscal Periods	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 1st is a Saturday, in which case the fiscal year ends on April 1st. In a 52-week year, each quarter includes thirteen weeks of operations; in a 53-week fiscal year, the first, second and third quarters each include thirteen weeks of operations and the fourth quarter includes fourteen weeks of operations. Both the fiscal year ending on March 27, 2021
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’s retail stores and e-commerce websites represent two operating segments. Given the similar qualitative and economic characteristics of the two operating segments, the Company’s retail stores and e-commerce websites are aggregated into one reporting segment in accordance with guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting ​
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, lease accounting, 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. ​
Inventories	Inventories ​ Inventory consists primarily of purchased merchandise and is valued at the lower of cost or net realizable value. Cost is determined on a first-in, first-out basis and includes the cost of merchandise and import-related costs, including freight, duty and agent commissions. The Company assesses the recoverability of inventory through a periodic review of historical usage and present demand. When the inventory on hand exceeds the foreseeable demand, the value of inventory that, at the time of the review, is not expected to be sold at or above cost is written down to its estimated net realizable value.
Leases	Leases ​ Operating and finance lease liabilities are recognized at the lease commencement date based on the present value of the fixed lease payments using the Company's incremental borrowing rates for its population of leases. Related operating and finance lease right-of-use assets are recognized based on the initial present value of the fixed lease payments, reduced by cash payments received from landlords as lease incentives, plus any prepaid rent and other direct costs from executing the leases. Amortization of both operating and finance lease right-of-use assets is performed on a straight-line basis and recorded as part of rent expense in selling, general and administrative expenses on the condensed consolidated statements of operations. The interest expense amortization component of the finance lease liabilities is recorded within interest expense on the condensed consolidated statements of operations. ​ Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Variable lease payments are recognized as lease expense as they are incurred.
Fair Value of Certain Financial Assets and Liabilities	Fair Value of Certain Financial Assets and Liabilities ​ The Company follows FASB ASC Topic 820, Fair Value Measurements and Disclosures ​ ● 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 and the evaluation of store impairment. ​ Cash and cash equivalents, accounts receivable and accounts payable 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 respective relatively short maturity dates or duration. ​ Although market quotes for the fair value of the outstanding debt arrangements discussed in Note 5, “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 ​
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements ​ In January 2017, the FASB issued ASU No. 2017-04, Intangibles — Goodwill and Other: Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), which simplifies the accounting for goodwill impairment by eliminating step two from the goodwill impairment test. Under this new guidance, if the carrying amount of a reporting unit exceeds its estimated fair value, an impairment charge shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The amendments in ASU 2017-04 are effective prospectively for fiscal years and interim periods within those years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the revised standard to have a material impact on the consolidated financial statements.
Revenue Recognition	Revenue Recognition Revenue is recorded for store sales upon the purchase of merchandise by customers. Sales are recorded net of taxes collected from customers. Transfer of control takes place at the point at which the customer receives and pays for the merchandise at the register. E-commerce sales are recorded when control transfers to the customer, which generally occurs upon delivery of the product. Shipping and handling revenues are included in total net sales. Shipping costs incurred by the Company are included in cost of goods sold. The Company maintains a customer loyalty program. Under the program, customers accumulate points based on purchase activity. For customers to maintain their active point balance, they must make a qualifying purchase of merchandise at least once in a 365-day period. Once a loyalty program member achieves a certain point level, the member earns awards that may be redeemed for credits on merchandise purchases. To redeem awards, the member must make a qualifying purchase of merchandise within 60 days of the date the award was granted. Unredeemed awards and accumulated partial points are accrued as unearned revenue until redemption or expiration and, upon redemption and expiration, as an adjustment to net sales using the relative standalone selling price method. The unearned revenue for this program is recorded in accrued expenses and other current liabilities on the consolidated balance sheets and was $1.8 million as of June 27, 2020 and $2.0 million as of June 29, 2019. The following table provides a reconciliation of the activity related to the Company’s customer loyalty program: ​ ​ ​ ​ ​ ​ ​ ​ Customer Loyalty Program ​ ​ ​ ​ ​ (in thousands) June 27, 2020 ​ June 29, 2019 Beginning balance as of March 28, 2020 and March 30, 2019, respectively $ 2,076 ​ $ 1,936 Year-to-date provisions ​ ​ 341 ​ ​ 1,468 Year-to-date award redemptions ​ ​ (659) ​ ​ (1,378) Ending balance ​ $ 1,758 ​ $ 2,026 ​ Revenue is recorded net of estimated and actual sales returns and deductions for coupon redemptions, estimated future award redemption and other promotions. The sales returns reserve reflects an estimate of sales returns based on projected merchandise returns determined through the use of historical average return percentages. The total reserve for returns is recorded in accrued expenses and other current liabilities in the consolidated balance sheets. The Company accounts for the asset and liability separately on a gross basis. Proceeds from the sale of gift cards are deferred until the customers use the cards to acquire merchandise. Gift cards, gift certificates and store credits do not have expiration dates, and unredeemed gift cards, gift certificates and store credits are subject to state escheatment laws. Amounts remaining after escheatment are recognized in net sales in the period escheatment occurs and the liability is considered to be extinguished. The Company defers recognition of a layaway sale and its related profit to the accounting period when the customer receives the layaway merchandise. Income from the redemption of gift cards, gift card breakage, and the sale of layaway merchandise is included in net sales. The following table provides a reconciliation of the activity related to the Company’s gift card program: ​ ​ ​ ​ ​ ​ ​ ​ Gift Card Program ​ ​ ​ ​ ​ (in thousands) June 27, 2020 ​ June 29, 2019 Beginning balance as of March 28, 2020 and March 30, 2019, respectively $ 10,118 ​ $ 8,796 Year-to-date issued ​ ​ 2,091 ​ ​ 2,395 Year-to-date redemptions ​ ​ (2,007) ​ ​ (2,594) Ending balance ​ $ 10,202 ​ $ 8,597 ​ Disaggregated Revenue The Company disaggregates net sales into the following major merchandise categories: ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended % of Net Sales ​ June 27, 2020 ​ June 29, 2019 Footwear ​ 59% ​ 52% Apparel ​ ​ 28% ​ 32% Hats, accessories and other ​ ​ 13% ​ 16% Total ​ ​ 100% ​ 100% ​ The Company further disaggregates net sales between stores and e-commerce: ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended % of Net Sales ​ June 27, 2020 ​ June 29, 2019 Stores ​ 75% ​ 86% E-commerce ​ ​ 25% ​ 14% Total ​ ​ 100% ​ 100%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jun. 27, 2020
Schedule of disaggregated revenue	The Company disaggregates net sales into the following major merchandise categories: ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended % of Net Sales ​ June 27, 2020 ​ June 29, 2019 Footwear ​ 59% ​ 52% Apparel ​ ​ 28% ​ 32% Hats, accessories and other ​ ​ 13% ​ 16% Total ​ ​ 100% ​ 100% ​ The Company further disaggregates net sales between stores and e-commerce: ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended % of Net Sales ​ June 27, 2020 ​ June 29, 2019 Stores ​ 75% ​ 86% E-commerce ​ ​ 25% ​ 14% Total ​ ​ 100% ​ 100%
Customer Loyalty Program
Schedule of reconciliation of the activity related to contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ Customer Loyalty Program ​ ​ ​ ​ ​ (in thousands) June 27, 2020 ​ June 29, 2019 Beginning balance as of March 28, 2020 and March 30, 2019, respectively $ 2,076 ​ $ 1,936 Year-to-date provisions ​ ​ 341 ​ ​ 1,468 Year-to-date award redemptions ​ ​ (659) ​ ​ (1,378) Ending balance ​ $ 1,758 ​ $ 2,026
Gift Card Program
Schedule of reconciliation of the activity related to contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ Gift Card Program ​ ​ ​ ​ ​ (in thousands) June 27, 2020 ​ June 29, 2019 Beginning balance as of March 28, 2020 and March 30, 2019, respectively $ 10,118 ​ $ 8,796 Year-to-date issued ​ ​ 2,091 ​ ​ 2,395 Year-to-date redemptions ​ ​ (2,007) ​ ​ (2,594) Ending balance ​ $ 10,202 ​ $ 8,597

Asset Acquisition and Busines_2

Asset Acquisition and Business Combination (Tables)	3 Months Ended
	Jun. 27, 2020
G.&L. Clothing, Inc
Asset Acquisition and Business Combination
Schedule of estimated fair values of the assets acquired and liabilities assumed	​ ​ ​ ​ ​ (in thousands) At August 26, 2019 Assets acquired: ​ ​ ​ Inventory $ 2,361 Property & equipment, net ​ ​ 64 Customer list ​ ​ 345 Right-of-use asset, net ​ ​ 1,946 Goodwill ​ ​ 1,644 Total assets acquired ​ $ 6,360 ​ ​ ​ ​ Liabilities assumed: ​ Merchandise credits and other current liabilities ​ $ 169 Short-term lease liability ​ ​ 129 Long-term lease liability ​ ​ 2,374 Total liabilities assumed ​ ​ 2,672 Net assets acquired ​ $ 3,688

Intangible Assets, Net and Go_2

Intangible Assets, Net and Goodwill (Tables)	3 Months Ended
	Jun. 27, 2020
Intangible Assets, Net and Goodwill
Schedule of net finite-lived intangible assets	Net intangible assets as of June 27, 2020 and March 28, 2020 consisted of the following (in thousands, except for weighted average useful life): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 27, 2020 ​ ​ Gross ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (75) ​ $ 270 5.0 Trademarks—definite lived ​ ​ 15 ​ ​ (10) ​ ​ 5 ​ 3.0 Total definite lived ​ 360 ​ (85) ​ 275 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (85) ​ $ 60,952 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 28, 2020 ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (54) ​ $ 291 5.0 Trademarks-definite lived ​ ​ 15 ​ ​ (9) ​ ​ 6 ​ 3.0 Total definite lived ​ 360 ​ (63) ​ 297 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (63) ​ $ 60,974 ​ ​
Schedule of net indefinite-lived intangible assets	Net intangible assets as of June 27, 2020 and March 28, 2020 consisted of the following (in thousands, except for weighted average useful life): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 27, 2020 ​ ​ Gross ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (75) ​ $ 270 5.0 Trademarks—definite lived ​ ​ 15 ​ ​ (10) ​ ​ 5 ​ 3.0 Total definite lived ​ 360 ​ (85) ​ 275 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (85) ​ $ 60,952 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 28, 2020 ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (54) ​ $ 291 5.0 Trademarks-definite lived ​ ​ 15 ​ ​ (9) ​ ​ 6 ​ 3.0 Total definite lived ​ 360 ​ (63) ​ 297 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (63) ​ $ 60,974 ​ ​
Schedule of estimated future amortization of intangible assets	As of June 27, 2020, estimated future amortization of intangible assets was as follows: ​ ​ ​ ​ ​ Fiscal Year (in thousands) 2021 $ 67 2022 ​ 72 2023 ​ 62 2024 ​ 54 2025 ​ 20 Thereafter ​ - Total ​ $ 275

Revolving Credit Facilities a_2

Revolving Credit Facilities and Long-Term Debt (Tables)	3 Months Ended
	Jun. 27, 2020
Revolving Credit Facilities and Long-Term Debt
Schedule of information related to the term loan	The following sets forth the balance sheet information related to the term loan: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 27, ​ March 28, (in thousands) 2020    2020 Term Loan ​ $ 111,500   ​ $ 111,500 Unamortized value of the debt issuance costs and debt discount ​ ​ (2,288) ​ ​ (2,478) Net carrying value ​ $ 109,212 ​ $ 109,022
Schedule of aggregate contractual maturities for the Company's long-term debt	Aggregate contractual maturities for the Company’s long-term debt as of June 27, 2020 are as follows: ​ ​ ​ ​ ​ Fiscal Year ​ (in thousands) 2021 $ — 2022 ​ — 2023 ​ — 2024 ​ 111,500 Total ​ $ 111,500

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Jun. 27, 2020
Stock-Based Compensation
Schedule of assumptions used to determine fair value of stock options	The fair values of stock options granted during the thirteen weeks ended June 27, 2020 and June 29, 2019 were estimated on the grant dates using the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ ​ ​ ​ June 27, ​ ​ June 29, ​ ​ ​ ​ 2020 ​ 2019 Expected option term (1) ​ ​ ​ ​ 6.3 years ​ ​ 6.3 - 7.0 years ​ Expected volatility factor (2) ​ ​ ​ ​ 57.0 % ​ 35.3 % - 35.6 % ​ Risk-free interest rate (3) ​ ​ ​ ​ 0.4 % ​ ​ ​ ​ 2.3 % ​ Expected annual dividend yield ​ ​ ​ ​ 0 % ​ ​ ​ ​ 0 % ​ (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 stock and its 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.
Schedule of stock award activity	The following table summarizes the stock award activity for the thirteen weeks ended June 27, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Date ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ Aggregate ​ ​ Stock ​ Average ​ Remaining ​ Intrinsic ​ Options Exercise Price Contractual Life Value ​ ​ ​ ​ ​ ​ ​ (in years) ​ (in thousands) Outstanding at March 28, 2020 1,221,223 ​ $ 19.96 ​ ​ ​ ​ ​ Granted 264,535 ​ $ 22.41 ​ ​ ​ ​ ​ Exercised ​ (630) ​ $ 6.84 ​ ​ ​ $ 10 Cancelled, forfeited or expired (7,494) ​ $ 16.92 ​ ​ ​ ​ ​ Outstanding at June 27, 2020 1,477,634 ​ $ 20.42 6.6 ​ $ 4,846 Vested and expected to vest after June 27, 2020 1,477,634 ​ $ 20.42 6.6 ​ $ 4,846 Exercisable at June 27, 2020 522,264 ​ $ 18.37 4.3 ​ $ 2,335
Schedule of non-vested stock options	A summary of the status of non-vested stock options as of June 27, 2020 including changes during the thirteen weeks ended June 27, 2020 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ Shares Fair Value Nonvested at March 28, 2020 931,257 ​ $ 6.90 Granted 264,535 ​ $ 10.77 Vested (232,928) ​ $ 5.76 Nonvested shares forfeited (7,494) ​ $ 7.39 Nonvested at June 27, 2020 955,370 ​ $ 8.26
CEO
Stock-Based Compensation
Schedule of assumptions used to determine fair value of stock options	​ ​ ​ ​ ​ ​ Stock price $ 28.63 Exercise price ​ $ 28.63 ​ Expected option term ​ 7.0 years Expected volatility ​ 35.3 % Risk-free interest rate ​ ​ 2.3 % Expected annual dividend yield ​ ​ 0 %

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 27, 2020
Leases
Schedule of ROU assets and liabilities	ROU assets and lease liabilities as of June 27, 2020 and March 28, 2020 consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet Classification ​ June 27, 2020 ​ March 28, 2020 Assets ​ ​ ​ ​ ​ ​ ​ ​ Finance lease assets ​ Right-of-use assets, net ​ $ 10,217 ​ $ 10,444 Operating lease assets ​ Right-of-use assets, net ​ 154,481 ​ 159,799 Total lease assets ​ ​ ​ $ 164,698 ​ $ 170,243 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Short-term lease liabilities ​ $ 1,029 ​ $ 1,019 Operating ​ Short-term lease liabilities ​ ​ 33,926 ​ ​ 33,760 Total short-term lease liabilities ​ ​ ​ $ 34,955 ​ $ 34,779 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-Current ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Long-term lease liabilities ​ $ 12,795 ​ $ 12,954 Operating ​ Long-term lease liabilities ​ ​ 142,848 ​ ​ 147,981 Total long-term lease liabilities ​ ​ ​ $ 155,643 ​ $ 160,935 Total lease liabilities ​ ​ ​ $ 190,598 ​ $ 195,714
Schedule of total lease cost	Total lease costs for the thirteen weeks ended June 27, 2020 and June 29, 2019 were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Thirteen Weeks Ended ​ (in thousands) Statement of Operations Classification June 27, 2020 ​ ​ June 29, 2019 ​ Finance lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ Cost of goods sold ​ $ 229 ​ ​ $ 179 ​ Interest on lease liabilities ​ Interest expense, net ​ ​ 187 ​ ​ ​ 188 ​ Total finance lease cost ​ ​ ​ $ 416 ​ ​ $ 367 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ Cost of goods sold ​ $ 10,652 ​ ​ $ 9,528 * Operating lease cost ​ Selling, general and administrative expenses ​ ​ 234 ​ ​ ​ 433 * Short-term lease cost ​ Selling, general and administrative expenses ​ ​ 459 ​ ​ ​ 566 ​ Variable lease cost ​ Selling, general and administrative expenses ​ ​ 419 ​ ​ ​ 564 ​ Sublease income ​ Cost of goods sold ​ ​ (156) ​ ​ ​ — ​ Total lease cost ​ ​ ​ $ 12,024 ​ ​ $ 11,458 ​ *Amounts corrected from $9,094 and $867, respectively, as previously reported.
Schedule of future lease payments	The following table summarizes future lease payments as of June 27, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases Fiscal Year ​ (in thousands) ​ (in thousands) 2021 ​ $ 33,469 ​ $ 1,010 2022 ​ 39,768 ​ 1,353 2023 ​ 34,589 ​ 1,294 2024 ​ ​ 28,294 ​ ​ 1,264 2025 ​ ​ 22,854 ​ ​ 1,220 Thereafter ​ 39,618 ​ 14,044 Total ​ ​ 198,592 ​ ​ 20,185 Less: Imputed interest ​ ​ (21,818) ​ ​ (6,361) Present value of net lease payments ​ $ 176,774 ​ $ 13,824
Schedule of supplemental lease information	The following table includes supplemental lease information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Thirteen Weeks Ended ​ Supplemental Cash Flow Information (dollars in thousands) ​ June 27, 2020 ​ ​ June 29, 2019 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 10,920 ​ ​ $ 10,026 ​ Operating cash flows from finance leases ​ 1 ​ ​ 188 ​ Financing cash flows from finance leases ​ ​ 619 ​ ​ ​ 146 ​ ​ ​ $ 11,540 ​ ​ $ 10,360 ​ Lease liabilities arising from new right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 2,536 ​ ​ $ 5,594 ​ Finance leases ​ $ — ​ ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term (in years) ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.3 ​ ​ ​ 8.0 ​ Finance leases ​ ​ 21.4 ​ ​ ​ 11.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.3 % ​ ​ 6.4 % Finance leases ​ ​ 12.1 % ​ ​ 10.3 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jun. 27, 2020
Earnings Per Share
Schedule of the components of basic and diluted (loss)/earnings per share of common stock	The components of basic and diluted (loss)/earnings per share of common stock, in aggregate, for the thirteen weeks ended June 27, 2020 and June 29, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ ​ June 27, ​ June 29, ​ (in thousands, except per share data) 2020 2019 Net (loss)/income ​ $ (490) ​ $ 9,721 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic shares outstanding ​ 28,826 ​ 28,380 ​ Dilutive effect of options and restricted stock ​ — ​ 645 ​ Weighted average diluted shares outstanding ​ 28,826 ​ 29,025 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic (loss)/earnings per share ​ $ (0.02) ​ $ 0.34 ​ Diluted (loss)/earnings per share ​ $ (0.02) ​ $ 0.33 ​

Description of the Company, R_2

Description of the Company, Recent Developments and Basis of Presentation (Details)	3 Months Ended	12 Months Ended
	Jun. 27, 2020storeVotestateshares	Mar. 27, 2021	Mar. 28, 2020storestateshares
Business Operations
Number of shares authorized | shares	100,000,000		100,000,000
Number of shares issued | shares	28,944,921		28,880,000
Number of shares outstanding | shares	28,853,928
Number of votes per common share | Vote	1
Number of stores | store	264		259
Number of states in which the Company operates | state	36		35
Fiscal Year
Fiscal year period			364 days
Subsequent Event
Fiscal Year
Fiscal year period		364 days
COVID-19
Business Operations
Number of stores closed | store	30
American Worker
Business Operations
Number of stores | store	2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended
	Jun. 27, 2020USD ($)segmentitem
Segment Reporting
Operating segments | segment	2
Reportable segments | segment	1
Number of reporting units | item	2
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

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Customer Loyalty Program (Details) - Customer Loyalty Program - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Customer Loyalty Program
Number of days in which customers must make a qualifying purchase in order to maintain an active point balance	365 days
Number of days from award grant date in which the customer has to make a qualifying purchase to redeem the awards	60 days
Reserve for Returns	$ 1,758	$ 2,026
Reconciliation of Activity in Program
Beginning balance	2,076	1,936
Year-to-date provisions	341	1,468
Year-to-date redemptions	(659)	(1,378)
Ending balance	$ 1,758	$ 2,026

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Gift Card Program (Details) - Gift Card Program - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Reconciliation of Activity in Program
Beginning balance	$ 10,118	$ 8,796
Year-to-date issued	2,091	2,395
Year-to-date redemptions	(2,007)	(2,594)
Ending balance	$ 10,202	$ 8,597

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Disaggregated Revenue (Details)	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Disaggregation Of Revenue
Net sales percentage	100.00%	100.00%
Stores
Disaggregation Of Revenue
Net sales percentage	75.00%	86.00%
E-commerce
Disaggregation Of Revenue
Net sales percentage	25.00%	14.00%
Footwear
Disaggregation Of Revenue
Net sales percentage	59.00%	52.00%
Apparel
Disaggregation Of Revenue
Net sales percentage	28.00%	32.00%
Hats, accessories and other
Disaggregation Of Revenue
Net sales percentage	13.00%	16.00%

Asset Acquisition and Busines_3

Asset Acquisition and Business Combination (Details) $ in Thousands	Aug. 26, 2019USD ($)store	Jun. 27, 2020USD ($)store	Mar. 28, 2020USD ($)store
Asset Acquisition and Business Combination
Number of stores | store		264	259
Assets acquired:
Right-of-use assets, net		$ 154,481	$ 159,799
Goodwill		197,502	197,502
Liabilities assumed:
Short-term lease liability		33,926	33,760
Long-term lease liability		$ 142,848	$ 147,981
G.&L. Clothing, Inc
Asset Acquisition and Business Combination
Number of stores | store	1
Cash consideration paid ,net of cash acquired and other adjustments	$ 3,700
Assets acquired:
Inventory	2,361
Property & equipment, net	64
Right-of-use assets, net	1,946
Goodwill	1,644
Total assets acquired	6,360
Liabilities assumed:
Merchandise credits and other current liabilities	169
Short-term lease liability	129
Long-term lease liability	2,374
Total liabilities assumed	2,672
Net assets acquired	3,688
G.&L. Clothing, Inc | Customer lists
Assets acquired:
Intangible	$ 345

Intangible Assets, Net and Go_3

Intangible Assets, Net and Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Mar. 28, 2020
Intangible assets, net
Gross Carrying Amount	$ 360		$ 360
Accumulated Amortization	(85)		(63)
Net	275		297
Gross carrying amount	61,037		61,037
Intangible assets, net	60,952		60,974
Amortization of intangible assets	22	$ 32
Fiscal year
2021	67
2022	72
2023	62
2024	54
2025	20
Total	275
Trademarks
Intangible assets, net
Indefinite-lived intangible assets	60,677		60,677
Maximum
Intangible assets, net
Amortization of intangible assets	100	$ 100
Customer lists
Intangible assets, net
Gross Carrying Amount	345		345
Accumulated Amortization	(75)		(54)
Net	$ 270		$ 291
Weighted Average Useful Life	5 years		5 years
Trademarks
Intangible assets, net
Gross Carrying Amount	$ 15		$ 15
Accumulated Amortization	(10)		(9)
Net	$ 5		$ 6
Weighted Average Useful Life	3 years		3 years

Intangible Assets, Net and Go_4

Intangible Assets, Net and Goodwill - Change in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Jun. 27, 2020USD ($)item	Jun. 29, 2019USD ($)	Mar. 28, 2020USD ($)
Intangible Assets, Net and Goodwill
Goodwill	$ 197,502		$ 197,502
Number of indicators of impairment for goodwill | item	0
Impairments of long lived assets	$ 0	$ 0

Revolving Credit Facilities a_3

Revolving Credit Facilities and Long-Term Debt - Revolving Credit Facilities and Long-Term Debt (Details)	Jun. 06, 2019USD ($)	May 15, 2018USD ($)	Jun. 02, 2017USD ($)	Jun. 29, 2015USD ($)	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Dec. 29, 2018	Mar. 28, 2020USD ($)	May 26, 2017USD ($)
Interest expense
Revolving credit facilities and long-term debt
Amortization of deferred loan fees					$ 200,000	$ 300,000
Golub Term Loan
Revolving credit facilities and long-term debt
Principal amount	$ 111,500,000			$ 200,000,000
Interest expense					$ 1,600,000	$ 2,900,000
Weighted average interest rate (as a percent)					5.80%	7.10%
Periodic payment					$ 500,000
Repayments of loan	65,000,000	$ 10,000,000	$ 10,000,000
Additional interest rate required if certain triggering events come into existence (as a percent)				2.00%
Deferred loan fees				$ 7,100,000
Term loan					111,500,000			$ 111,500,000
Unamortized value of the debt issuance costs and debt discount					(2,288,000)			(2,478,000)
Total					109,212,000			109,022,000
Golub Term Loan | Base rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)				3.50%
Golub Term Loan | Federal funds rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)				0.50%
Golub Term Loan | One-month LIBOR rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)				1.00%
Golub Term Loan | LIBOR
Revolving credit facilities and long-term debt
Basis margin (as a percent)				4.50%
Golub Term Loan | Minimum | LIBOR
Revolving credit facilities and long-term debt
Interest rate (as a percent)				1.00%
Golub Term Loan | Leverage ratio as of December 2018 | Maximum
Revolving credit facilities and long-term debt
Consolidated total net leverage ratio							4
Wells Fargo Revolver
Revolving credit facilities and long-term debt
Borrowing capacity	$ 165,000,000			$ 125,000,000					$ 135,000,000
Commitment fee on unused capacity (as a percentage)				0.25%
Amount outstanding under 2015 Wells Fargo Revolver					129,900,000			129,900,000
Interest expense					$ 600,000	$ 600,000
Weighted average interest rate (as a percent)					1.70%	3.80%
Additional interest rate required if certain triggering events come into existence (as a percent)				2.00%
Deferred loan fees				$ 1,200,000
Unamortized value of the debt issuance costs and debt discount					$ (300,000)			$ (400,000)
Wells Fargo Revolver | Federal funds rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)				0.50%
Wells Fargo Revolver | One-month LIBOR rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)				1.00%
Wells Fargo Revolver | Minimum
Revolving credit facilities and long-term debt
Consolidated fixed charge coverage ratio				1
Wells Fargo Revolver | Minimum | Base rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)				0.00%
Wells Fargo Revolver | Minimum | LIBOR
Revolving credit facilities and long-term debt
Basis margin (as a percent)				1.00%
Wells Fargo Revolver | Maximum | Base rate
Revolving credit facilities and long-term debt
Basis margin (as a percent)				0.25%
Wells Fargo Revolver | Maximum | LIBOR
Revolving credit facilities and long-term debt
Basis margin (as a percent)				1.25%

Revolving Credit Facilities a_4

Revolving Credit Facilities and Long-Term Debt - Aggregate Contractual Maturities (Details) - Golub Term Loan - USD ($) $ in Thousands	Jun. 27, 2020	Mar. 28, 2020
Fiscal year
2024	$ 111,500
Total	$ 111,500	$ 111,500

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Jun. 27, 2020USD ($)$ / sharesshares	Jun. 29, 2019USD ($)item$ / sharesshares	May 20, 2019$ / shares	Oct. 19, 2014shares	Jan. 27, 2012shares
Stock-Based Compensation
Vesting percentage	33.00%
Vested | shares	75,000
Stock-based compensation expense | $	$ 1.8	$ 1
Cost of goods sold
Stock-Based Compensation
Stock-based compensation expense | $	$ 0.6	$ 0.1
Stock Options
Stock-Based Compensation
Stock options granted | shares	264,535
Unrecognized stock-based compensation expense for option | $	$ 6.5
Weighted-average recognition period	2 years 8 months 19 days
Restricted Stock Awards
Stock-Based Compensation
Unrecognized stock-based compensation expense for other than option | $	$ 5.5
Weighted-average recognition period	2 years 9 months 18 days
Performance share units
Stock-Based Compensation
Unrecognized stock-based compensation expense | $	$ 0.5
Weighted-average recognition period	1 year 9 months 7 days
2011 Plan
Stock-Based Compensation
Shares authorized | shares					3,750,000
Expiration period	10 years
Vesting period	5 years
2014 Plan
Stock-Based Compensation
Shares authorized | shares				3,600,000
2014 Plan | CEO
Stock-Based Compensation
Vesting period		4 years
Stock options granted | shares		227,273
Aggregate grant date fair value | $		$ 2
Grant date fair value (in dollars per share) | $ / shares		$ 8.80
Exercise price (in dollars per share) | $ / shares		$ 28.63	$ 28.63
Stated market price targets for company stock | item		3
2014 Plan | CEO | Tranche One
Stock-Based Compensation
Vesting percentage		33.00%
2014 Plan | CEO | Tranche Two
Stock-Based Compensation
Vesting percentage		33.00%
2014 Plan | CEO | Tranche Three
Stock-Based Compensation
Vesting percentage		34.00%
2014 Plan | Stock Options
Stock-Based Compensation
Stock options granted | shares	264,535
Grant date fair value (in dollars per share) | $ / shares	$ 10.77
Vested | shares	232,928
2014 Plan | Stock Options | Minimum
Stock-Based Compensation
Expiration period	8 years
Vesting period	4 years
2014 Plan | Stock Options | Maximum
Stock-Based Compensation
Expiration period	10 years
Vesting period	5 years
2014 Plan | Stock Options | Members of management
Stock-Based Compensation
Vesting period	4 years	4 years
Stock options granted | shares	264,535	116,952
Aggregate grant date fair value | $	$ 2.8	$ 1.3
Grant date fair value (in dollars per share) | $ / shares		$ 11.19
Exercise price (in dollars per share) | $ / shares		$ 28.63
2014 Plan | Stock Options | Members of management | Minimum
Stock-Based Compensation
Grant date fair value (in dollars per share) | $ / shares	$ 10.40
Exercise price (in dollars per share) | $ / shares	20.94
2014 Plan | Stock Options | Members of management | Maximum
Stock-Based Compensation
Grant date fair value (in dollars per share) | $ / shares	11.10
Exercise price (in dollars per share) | $ / shares	$ 24.08
2014 Plan | Restricted Stock Awards | Minimum
Stock-Based Compensation
Vesting period	1 year
2014 Plan | Restricted Stock Awards | Maximum
Stock-Based Compensation
Vesting period	4 years
2014 Plan | Restricted Stock Units
Stock-Based Compensation
Restricted stock or performance share units granted | shares	167,461	89,985
Restricted stock or performance share units granted fair value | $	$ 3.5	$ 2.6
2014 Plan | Restricted Stock Units | Employees
Stock-Based Compensation
Vesting period	4 years	4 years
2014 Plan | Restricted Stock Units | Tranche One
Stock-Based Compensation
Vesting period	1 year
2014 Plan | Restricted Stock Units | Tranche Two
Stock-Based Compensation
Vesting period	4 years
2014 Plan | Restricted Stock Units | Tranche Three
Stock-Based Compensation
Vesting period	5 years
2014 Plan | Performance share units
Stock-Based Compensation
Vesting period	3 years	3 years
Restricted stock or performance share units granted | shares	0	38,546
Restricted stock or performance share units granted fair value per share | $ / shares		$ 28.63
Service period	3 years
2014 Plan | Performance share units | Minimum
Stock-Based Compensation
Vesting percentage	0.00%
2014 Plan | Performance share units | Maximum
Stock-Based Compensation
Vesting percentage	200.00%
2014 Plan | Performance share units | Below Threshold
Stock-Based Compensation
Vesting percentage	0.00%
2014 Plan | Performance share units | Threshold
Stock-Based Compensation
Vesting percentage	50.00%
2014 Plan | Performance share units | Target
Stock-Based Compensation
Vesting percentage	100.00%
2014 Plan | Performance share units | Maximum Level
Stock-Based Compensation
Vesting percentage	200.00%

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options and Significant Valuation Assumptions (Details) - USD ($) $ / shares in Units, $ in Thousands	May 20, 2019	Jun. 27, 2020	Jun. 29, 2019
Stock Options
Stock Options
Outstanding at the beginning of period		1,221,223
Granted		264,535
Exercised		(630)
Canceled, forfeited or expired		(7,494)
Outstanding at the end of period		1,477,634
Vested and expected to vest after end of period		1,477,634
Exercisable at end of period		522,264
Grant Date Weighted-Average Exercise Price
Outstanding at the beginning of period		$ 19.96
Granted		22.41
Exercise price (in dollars per share)		6.84
Canceled, forfeited or expired		16.92
Outstanding at the end of period		20.42
Vested and expected to vest at end of period		20.42
Exercisable at end of period		$ 18.37
Weighted Average Remaining Contractual Life
Weighted average remaining contractual life, awards outstanding		6 years 7 months 6 days
Weighted average remaining contractual life, awards vested and expected to vest		6 years 7 months 6 days
Weighted average remaining contractual life, awards exercisable		4 years 3 months 18 days
Aggregate Intrinsic Value
Aggregate intrinsic value, awards exercised		$ 10
Aggregate intrinsic value, awards outstanding		4,846
Aggregate intrinsic value, awards vested and expected to vest		4,846
Aggregate intrinsic value, awards exercisable		$ 2,335
2014 Plan | Stock Options
Stock Options
Granted		264,535
CEO | 2014 Plan
Assumptions used
Stock price (in dollars per share)	$ 28.63
Exercise price (in dollars per share)	$ 28.63		$ 28.63
Expected option term	7 years
Expected volatility factor	35.30%
Risk-free interest rate	2.30%
Expected annual dividend yield	0.00%
Stock Options
Granted			227,273
Members of management | 2014 Plan
Assumptions used
Expected option term		6 years 3 months 18 days
Expected volatility factor		57.00%
Expected volatility factor, minimum			35.30%
Expected volatility factor, maximum			35.60%
Risk-free interest rate		0.40%	2.30%
Expected annual dividend yield		0.00%	0.00%
Members of management | 2014 Plan | Stock Options
Assumptions used
Exercise price (in dollars per share)			$ 28.63
Stock Options
Granted		264,535	116,952
Members of management | Minimum | 2014 Plan
Assumptions used
Expected option term			6 years 3 months 18 days
Members of management | Minimum | 2014 Plan | Stock Options
Assumptions used
Exercise price (in dollars per share)		$ 20.94
Members of management | Maximum | 2014 Plan
Assumptions used
Expected option term			7 years
Members of management | Maximum | 2014 Plan | Stock Options
Assumptions used
Exercise price (in dollars per share)		$ 24.08

Stock-Based Compensation - Non-

Stock-Based Compensation - Non-vested Options (Details)	3 Months Ended
	Jun. 27, 2020$ / sharesshares
Shares
Vested	(75,000)
Stock Options
Shares
Granted	264,535
Stock Options | 2014 Plan
Shares
Nonvested at beginning of period	931,257
Granted	264,535
Vested	(232,928)
Nonvested shares forfeited	(7,494)
Nonvested at end of period	955,370
Weighted-Average Grant Date Fair Value
Nonvested at beginning of period | $ / shares	$ 6.90
Granted | $ / shares	10.77
Vested | $ / shares	5.76
Nonvested shares forfeited | $ / shares	7.39
Nonvested at end of period | $ / shares	$ 8.26

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
	Jun. 27, 2020
Leases
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Operating lease renewal term	5 years
Minimum
Leases
Operating lease term	5 years
Maximum
Leases
Operating lease term	10 years

Leases - ROU assets and liabili

Leases - ROU assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 27, 2020	Mar. 28, 2020
ROU assets and liabilities
Finance lease assets	$ 10,217	$ 10,444
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Total lease assets	Total lease assets
Operating lease assets	$ 154,481	$ 159,799
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Total lease assets	Total lease assets
Total lease assets	$ 164,698	$ 170,243
Current finance lease liabilities	$ 1,029	$ 1,019
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total short-term lease liabilities	Total short-term lease liabilities
Current operating lease liabilities	$ 33,926	$ 33,760
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total short-term lease liabilities	Total short-term lease liabilities
Total short-term lease liabilities	$ 34,955	$ 34,779
Finance Lease, Liability, Noncurrent	$ 12,795	$ 12,954
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total long-term lease liabilities	Total long-term lease liabilities
Operating Lease, Liability, Noncurrent	$ 142,848	$ 147,981
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total long-term lease liabilities	Total long-term lease liabilities
Total long-term lease liabilities	$ 155,643	$ 160,935
Total lease liabilities	$ 190,598	$ 195,714

Leases - Lease cost (Details)

Leases - Lease cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Lease cost
Total finance lease cost	$ 416	$ 367
Total lease cost	12,024	11,458
Cost of goods sold
Lease cost
Amortization of right-of-use assets	229	179
Operating lease cost	10,652	9,528
Sublease income	(156)
Cost of goods sold | Previously Reported
Lease cost
Operating lease cost		9,094
Selling, general and administrative expenses
Lease cost
Operating lease cost	234	433
Short-term lease cost	459	566
Variable lease cost	419	564
Selling, general and administrative expenses | Previously Reported
Lease cost
Operating lease cost		867
Interest expense
Lease cost
Interest on lease liabilities	$ 187	$ 188

Leases - Future lease payments

Leases - Future lease payments (Details) $ in Thousands	Jun. 27, 2020USD ($)
Operating Leases
2021	$ 33,469
2022	39,768
2023	34,589
2024	28,294
2025	22,854
Thereafter	39,618
Total	198,592
Less: Imputed interest	(21,818)
Present value of net lease payments	176,774
Finance Leases
2021	1,010
2022	1,353
2023	1,294
2024	1,264
2025	1,220
Thereafter	14,044
Total	20,185
Less: Imputed interest	(6,361)
Present value of net lease payments	$ 13,824

Leases - Supplemental lease inf

Leases - Supplemental lease information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Supplemental Lease Information
Operating cash flows from operating leases	$ 10,920	$ 10,026
Operating cash flows from finance leases	1	188
Financing cash flows from finance leases	619	146
Cash paid for amounts included in the measurement of lease liabilities	11,540	10,360
Lease liabilities arising from new right-of-use assets-Operating leases	$ 2,536	$ 5,594
Weighted average remaining lease term (in years)-Operating leases	6 years 3 months 18 days	8 years
Weighted average remaining lease term (in years)-Finance leases	21 years 4 months 24 days	11 years 6 months
Weighted average discount rate-Operating leases	6.30%	6.40%
Weighted average discount rate-Finance leases	12.10%	10.30%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Mar. 28, 2020
Income Taxes
Effective tax rate	37.10%	20.10%
Change in tax rate income tax provision returns	$ 100
Accrued interest and penalties	$ 0		$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Floor & Decor Holdings, Inc
Related Party Transactions
Capital expenditures related to specialty retail vendor	$ 0.1	$ 0.1

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Earnings Per Share
Net (loss)/income	$ (490)	$ 9,721
Weighted average basic shares outstanding	28,826,000	28,380,000
Dilutive effect of options and restricted stock		645,000
Weighted average diluted shares outstanding	28,826,000	29,025,000
Basic (loss)/earnings per share	$ (0.02)	$ 0.34
Diluted (loss)/earnings per share	$ (0.02)	$ 0.33
Shares that were not included in the computation of weighted average diluted common shares amounts	1,477,634	730,581