Boot Barn (BOOT) 10-Q 28 Oct 21 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 25, 2021	Oct. 27, 2021
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 25, 2021
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		29,608,983
Current Fiscal Year End Date	--03-26
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001610250
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 25, 2021	Mar. 27, 2021
Current assets:
Cash and cash equivalents	$ 39,545	$ 73,148
Accounts receivable, net	13,202	12,771
Inventories	350,274	275,760
Prepaid expenses and other current assets	38,072	12,777
Total current assets	441,093	374,456
Property and equipment, net	124,021	110,444
Right-of-use assets, net	209,964	186,827
Goodwill	197,502	197,502
Intangible assets, net	60,849	60,885
Other assets	3,990	3,467
Total assets	1,037,419	933,581
Current liabilities:
Accounts payable	140,530	104,641
Accrued expenses and other current liabilities	96,959	77,615
Short-term lease liabilities	42,992	39,400
Total current liabilities	280,481	221,656
Deferred taxes	15,363	21,993
Long-term portion of notes payable, net	49,399	109,781
Long-term lease liabilities	206,988	181,836
Other liabilities	3,931	3,424
Total liabilities	556,162	538,690
Commitments and contingencies (Note 6)
Stockholders' equity:
Common stock, $0.0001 par value; September 25, 2021 - 100,000 shares authorized, 29,734 shares issued; March 27, 2021 - 100,000 shares authorized, 29,348 shares issued	3	3
Preferred stock, $0.0001 par value; 10,000 shares authorized, no shares issued or outstanding
Additional paid-in capital	194,323	183,815
Retained earnings	291,533	213,027
Less: Common stock held in treasury, at cost, 132 and 96 shares at September 25, 2021 and March 27, 2021, respectively	(4,602)	(1,954)
Total stockholders' equity	481,257	394,891
Total liabilities and stockholders' equity	$ 1,037,419	$ 933,581

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 25, 2021	Mar. 27, 2021
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)	29,734,050	29,348,000
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)	132,000	96,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 312,717	$ 184,515	$ 619,044	$ 332,281
Type of Revenue	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Cost of goods sold	$ 194,566	$ 129,025	$ 384,466	$ 236,590
Type of Cost of Service	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Gross profit	$ 118,151	$ 55,490	$ 234,578	$ 95,691
Selling, general and administrative expenses	68,037	45,448	130,821	83,851
Income from operations	50,114	10,042	103,757	11,840
Interest expense	1,162	2,383	3,725	5,024
Other income, net	14	78	118	142
Income before income taxes	48,966	7,737	100,150	6,958
Income tax expense	11,105	1,979	21,644	1,690
Net income	$ 37,861	$ 5,758	$ 78,506	$ 5,268
Earnings per share:
Basic (in dollars per share)	$ 1.28	$ 0.20	$ 2.67	$ 0.18
Diluted (in dollars per share)	$ 1.25	$ 0.20	$ 2.59	$ 0.18
Weighted average shares outstanding:
Basic (in shares)	29,555	28,860	29,458	28,843
Diluted (in shares)	30,356	29,223	30,312	29,165

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. 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 income (loss)			(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)
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 income (loss)					5,268
Balance at Sep. 26, 2020	$ 3	172,839	158,909	$ (1,717)	330,034
Balance (in shares) at Sep. 26, 2020	28,958,000			(92,000)
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)
Increase (Decrease) in Stockholders' Equity
Net income (loss)			5,758		5,758
Issuance of common stock related to stock-based compensation		57			57
Issuance of common stock related to stock-based compensation (in shares)	13,000
Tax withholding for net share settlement				$ (32)	(32)
Tax withholding for net share settlement (in shares)				(1,000)
Stock-based compensation expense		1,705			1,705
Balance at Sep. 26, 2020	$ 3	172,839	158,909	$ (1,717)	330,034
Balance (in shares) at Sep. 26, 2020	28,958,000			(92,000)
Balance at Mar. 27, 2021	$ 3	183,815	213,027	$ (1,954)	394,891
Balance (in shares) at Mar. 27, 2021	29,348,000			(96,000)
Increase (Decrease) in Stockholders' Equity
Net income (loss)			40,645		40,645
Issuance of common stock related to stock-based compensation		3,616			3,616
Issuance of common stock related to stock-based compensation (in shares)	313,000
Tax withholding for net share settlement				$ (2,476)	(2,476)
Tax withholding for net share settlement (in shares)				(34,000)
Stock-based compensation expense		3,201			3,201
Balance at Jun. 26, 2021	$ 3	190,632	253,672	$ (4,430)	439,877
Balance (in shares) at Jun. 26, 2021	29,661,000			(130,000)
Balance at Mar. 27, 2021	$ 3	183,815	213,027	$ (1,954)	394,891
Balance (in shares) at Mar. 27, 2021	29,348,000			(96,000)
Increase (Decrease) in Stockholders' Equity
Net income (loss)					78,506
Balance at Sep. 25, 2021	$ 3	194,323	291,533	$ (4,602)	$ 481,257
Balance (in shares) at Sep. 25, 2021	29,734,000			(132,000)	29,601,790
Balance at Jun. 26, 2021	$ 3	190,632	253,672	$ (4,430)	$ 439,877
Balance (in shares) at Jun. 26, 2021	29,661,000			(130,000)
Increase (Decrease) in Stockholders' Equity
Net income (loss)			37,861		37,861
Issuance of common stock related to stock-based compensation		924			924
Issuance of common stock related to stock-based compensation (in shares)	73,000
Tax withholding for net share settlement				$ (172)	(172)
Tax withholding for net share settlement (in shares)				(2,000)
Stock-based compensation expense		2,767			2,767
Balance at Sep. 25, 2021	$ 3	$ 194,323	$ 291,533	$ (4,602)	$ 481,257
Balance (in shares) at Sep. 25, 2021	29,734,000			(132,000)	29,601,790

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020
Cash flows from operating activities
Net income	$ 78,506	$ 5,268
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	12,871	11,948
Stock-based compensation	5,968	3,529
Amortization of intangible assets	36	44
Amortization of right-of-use assets	18,737	16,757
Amortization and write-off of debt issuance fees and debt discount	1,189	442
Loss on disposal of assets	90	42
(Gain)/loss on adjustment of right-of-use assets and lease liabilities	(247)	295
Store impairment charge		384
Deferred taxes	(6,630)	(250)
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable, net	5,852	3,681
Inventories	(74,514)	27,777
Prepaid expenses and other current assets	(25,366)	(206)
Other assets	(523)	(450)
Accounts payable	36,312	(9,985)
Accrued expenses and other current liabilities	14,634	568
Other liabilities	507	554
Operating leases	(18,794)	(16,507)
Net cash provided by operating activities	48,628	43,891
Cash flows from investing activities
Purchases of property and equipment	(22,251)	(14,881)
Net cash used in investing activities	(22,251)	(14,881)
Cash flows from financing activities
Payments on line of credit - net		(62,137)
Repayments on debt and finance lease obligations	(61,872)	(308)
Tax withholding payments for net share settlement	(2,648)	(517)
Proceeds from the exercise of stock options	4,540	61
Net cash used in financing activities	(59,980)	(62,901)
Net decrease in cash and cash equivalents	(33,603)	(33,891)
Cash and cash equivalents, beginning of period	73,148	69,563
Cash and cash equivalents, end of period	39,545	35,672
Supplemental disclosures of cash flow information:
Cash paid for income taxes	26,005	1,182
Cash paid for interest	2,495	4,905
Supplemental disclosure of non-cash activities:
Unpaid purchases of property and equipment	$ 7,195	$ 1,349

Description of the Company, Rec

Description of the Company, Recent Developments and Basis of Presentation	6 Months Ended
	Sep. 25, 2021
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 29,734,050 issued and 29,601,790 outstanding shares of common stock as of September 25, 2021. 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 278 stores in 36 states as of September 25, 2021 and 273 stores in 36 states as of March 27, 2021. As of September 25, 2021, 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 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. COVID-19 has had and may continue to have a significant impact on economic conditions and consumer confidence. There remains uncertainty around the duration and impact of the COVID-19 pandemic 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. ​ Basis of Presentation ​ The Company’s condensed consolidated financial statements as of and for the thirteen weeks ended September 25, 2021 and September 26, 2020 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”). On September 26, 2021, Sheplers, Inc. and Sheplers Holding Corporation each were converted to limited liability companies, Sheplers, LLC and Sheplers Holding LLC, respectively. 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 26, 2022. ​ 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 26, 2022

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 25, 2021
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 13, 2021. 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 condensed 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 using the weighted-average cost method (which approximates the first-in, first-out method) 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 (“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 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, incremental borrowing 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 4, “Revolving Credit Facilities and Long-Term Debt” are not readily available, the Company believes its carrying value approximates fair value due to the variable interest rates, which are Level 2 inputs. There were no financial assets or liabilities ​ Recent Accounting Pronouncements ​ In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848), which clarifies some of its guidance around reference rate reform activities as global market participants undertake efforts to transition from using or referencing the London Interbank Offered Rate (LIBOR) and other interbank offered rates to using or referencing alternative reference rates. The amendments in this ASU if elected by an entity, are effective immediately. Unlike other topics, the provisions of this update are only available until December 31, 2022, by which time the reference rate replacement activity is expected to be completed. The Company does not expect the revised standard to have an impact on its 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 $3.2 million as of September 25, 2021 and $2.1 million as of September 26, 2020. The following table provides a reconciliation of the activity related to the Company’s customer loyalty program: ​ ​ ​ ​ ​ ​ ​ ​ Customer Loyalty Program ​ ​ ​ ​ ​ (in thousands) September 25, 2021 ​ September 26, 2020 Beginning balance as of March 27, 2021 and March 28, 2020, respectively $ 2,485 ​ $ 2,076 Year-to-date provisions ​ ​ 5,817 ​ ​ 1,878 Year-to-date award redemptions ​ ​ (5,087) ​ ​ (1,857) Ending balance ​ $ 3,215 ​ $ 2,097 ​ 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 return 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. deferred revenue is recorded in accrued expenses and other current liabilities in the consolidated balance sheets. The following table provides a reconciliation of the activity related to the Company’s gift card program: ​ ​ ​ ​ ​ ​ ​ ​ Gift Card Program ​ ​ ​ ​ ​ (in thousands) September 25, 2021 ​ September 26, 2020 Beginning balance as of March 27, 2021 and March 28, 2020, respectively $ 11,569 ​ $ 10,118 Year-to-date issued ​ ​ 8,228 ​ ​ 4,461 Year-to-date redemptions ​ ​ (8,395) ​ ​ (4,670) Ending balance ​ $ 11,402 ​ $ 9,909 ​ Disaggregated Revenue The Company disaggregates net sales into the following major merchandise categories: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Twenty-Six Weeks Ended % of Net Sales ​ September 25, 2021 ​ September 26, 2020 ​ ​ September 25, 2021 ​ September 26, 2020 Footwear ​ 50% ​ 55% ​ ​ 50% ​ 57% Apparel ​ ​ 33% ​ 30% ​ ​ 33% ​ 29% Hats, accessories and other ​ ​ 17% ​ 15% ​ ​ 17% ​ 14% Total ​ ​ 100% ​ 100% ​ ​ 100% ​ 100% ​ The Company further disaggregates net sales between stores and e-commerce: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Twenty-Six Weeks Ended % of Net Sales ​ September 25, 2021 ​ September 26, 2020 ​ ​ September 25, 2021 ​ September 26, 2020 Stores ​ 86% ​ 83% ​ ​ 86% ​ 79% E-commerce ​ ​ 14% ​ 17% ​ ​ 14% ​ 21% Total ​ ​ 100% ​ 100% ​ ​ 100% ​ 100% ​

Intangible Assets, Net and Good

Intangible Assets, Net and Goodwill	6 Months Ended
	Sep. 25, 2021
Intangible Assets, Net and Goodwill
Intangible Assets, Net and Goodwill	3. Intangible Assets, Net and Goodwill ​ Net intangible assets as of September 25, 2021 and March 27, 2021 consisted of the following (in thousands, except for weighted average useful life): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 25, 2021 ​ ​ Gross ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (173) ​ $ 172 5.0 Trademarks—definite lived ​ ​ 15 ​ ​ (15) ​ ​ — ​ 3.0 Total definite lived ​ 360 ​ (188) ​ 172 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (188) ​ $ 60,849 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 27, 2021 ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (137) ​ $ 208 5.0 Trademarks-definite lived ​ ​ 15 ​ ​ (15) ​ ​ — ​ 3.0 Total definite lived ​ 360 ​ (152) ​ 208 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (152) ​ $ 60,885 ​ ​ ​ Amortization expense for intangible assets totaled less than $0.1 million for both the thirteen weeks ended September 25, 2021 and September 26, 2020, and is included in selling, general and administrative expenses. ​ Amortization expense for intangible assets totaled less than $0.1 million for both the twenty-six weeks ended September 25, 2021 and September 26, 2020, and is included in selling, general and administrative expenses. ​ As of September 25, 2021, estimated future amortization of intangible assets was as follows: ​ ​ ​ ​ ​ Fiscal Year (in thousands) 2022 $ 36 2023 ​ 62 2024 ​ 54 2025 ​ 20 2026 ​ - Thereafter ​ - Total ​ $ 172 ​ 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 September 25, 2021 and March 27, 2021. As of September 25, 2021, the Company had identified no indicators of impairment with respect to its goodwill and intangible asset balances. During both the thirteen and twenty-six weeks ended September 25, 2021, the Company did not record any long-lived asset impairment charges. During both the thirteen and twenty-six weeks ended September 26, 2020, the Company recorded long-lived asset impairment charges of $0.7 million related to its stores. These long-lived asset impairment charges related to right-of-use assets and property, plant and equipment associated with our stores.

Revolving Credit Facilities and

Revolving Credit Facilities and Long-Term Debt	6 Months Ended
	Sep. 25, 2021
Revolving Credit Facilities and Long-Term Debt
Revolving Credit Facilities and Long-Term Debt	4. 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. On July 26, 2021, the Company entered in an amendment, increasing the aggregate revolving credit facility to $180.0 million. The amount outstanding under the June 2015 Wells Fargo Revolver as of both September 25, 2021 and March 27, 2021 was zero. Total interest expense incurred in the thirteen and twenty-six weeks ended September 25, 2021 on the June 2015 Wells Fargo Revolver was $0.1 million and $0.3 million, respectively. Total interest expense incurred in the thirteen weeks and twenty-six weeks ended September 26, 2020 on the June 2015 Wells Fargo Revolver was $0.4 million and $1.0 million, respectively, and the weighted average interest rate for the thirteen weeks ended September 26, 2020 was 1.4%. ​ 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. During the twenty-six weeks ended September 25, 2021, the Company made voluntary prepayments on the term loan facility totaling $61.5 million, reducing the outstanding principal balance to $50.0 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 and twenty-six weeks ended September 25, 2021 on the 2015 Golub Term Loan was $0.7 million and $1.9 million and the weighted average interest rate for the thirteen weeks ended September 25, 2021 was 5.5%. Total interest expense incurred in the thirteen and twenty-six weeks ended September 26, 2020 on the 2015 Golub Term Loan was $1.6 million and $3.2 million, respectively, and the weighted average interest rate for the thirteen weeks ended September 26, 2020 was 5.5%. ​ 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 both $0.3 million as of September 25, 2021 and March 27, 2021. 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. During the twenty-six weeks ended September 25, 2021, the Company made voluntary prepayments on the term loan facility totaling $61.5 million, reducing the outstanding principal balance to $50.0 million. As a result of these prepayments, $0.9 million of debt issuance costs and debt discount associated with the 2015 Golub Term Loan were written off to interest expense. Total unamortized debt issuance costs and debt discount were $0.6 million and $1.7 million as of September 25, 2021 and March 27, 2021, 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 25, ​ March 27, (in thousands) 2021    2021 Term Loan ​ $ 50,000   ​ $ 111,500 Unamortized value of the debt issuance costs and debt discount ​ ​ (601) ​ ​ (1,719) Net carrying value ​ $ 49,399 ​ $ 109,781 ​ Total amortization expense of $0.1 million and $0.2 million related to the June 2015 Wells Fargo Revolver and 2015 Golub Term Loan are included as components of interest expense in the thirteen weeks ended September 25, 2021 and September 26, 2020, respectively. ​ Total amortization expense of $0.3 million and $0.4 million related to the June 2015 Wells Fargo Revolver and 2015 Golub Term Loan is included as component of interest expense in the twenty-six weeks ended September 25, 2021 and September 26, 2020, respectively. Interest expense in the twenty-six weeks ended September 25, 2021 also includes the write-off of $0.9 million of debt issuance costs and debt discount associated with the 2015 Golub Term Loan. ​ Aggregate Contractual Maturities ​ Aggregate contractual maturities for the Company’s long-term debt as of September 25, 2021 are as follows: ​ ​ ​ ​ ​ Fiscal Year ​ (in thousands) 2022 $ — 2023 ​ — 2024 ​ 50,000 2025 ​ — 2026 ​ — Total ​ $ 50,000 ​

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Sep. 25, 2021
Stock-Based Compensation
Stock-Based Compensation	5. Stock-Based Compensation ​ Equity Incentive Plans ​ On January 27, 2012, the Company approved the 2011 Equity Incentive Plan (the “2011 Plan”). The 2011 Plan authorized the Company to issue options to employees, consultants and directors exercisable for up to a total of 3,750,000 shares of common stock. As of September 25, 2021, 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 September 25, 2021, 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 ​ On August 26, 2020, the Company approved the 2020 Equity Incentive Plan (the “2020 Plan”). Following the approval of the 2020 Plan, no further grants have been made under the 2014 Plan. The 2020 Plan authorizes the Company to issue awards to employees and directors for up to a total of 2,000,000 shares of common stock. As of September 25, 2021, all awards granted by the Company under the 2020 Plan to date have been restricted stock units or performance share units. Restricted stock units vest over service periods of one ​ Non-Qualified Stock Options ​ During the thirteen weeks ended September 25, 2021, the Company did not grant options to purchase shares. ​ During the thirteen weeks ended September 26, 2020, the Company granted certain members of management options to purchase a total of 22,838 shares under the 2014 Plan. The total grant date fair value of stock options granted during the thirteen weeks ended September 26, 2020 was $0.3 million, with grant date fair values of $12.71 per share. Subject to certain exceptions, 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 $23.57 per share. ​ During the twenty-six weeks ended September 25, 2021, the company did not grant options to purchase shares. ​ During the twenty-six weeks ended September 26, 2020, the Company granted certain members of management options to purchase a total of 287,373 shares under the 2014 Plan. The total grant date fair value of stock options granted during the twenty-six weeks ended September 26, 2020 was $3.1 million, with grant date fair values of $10.40 to $12.71 per share. Subject to certain exceptions, 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 ranges from $20.94 to $24.08 per share. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-Six Weeks Ended ​ ​ ​ ​ September 25, ​ ​ September 26, ​ September 25, ​ September 26, ​ ​ ​ 2021 ​ 2020 2021 2020 Expected option term (1) ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 6.3 years ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 6.3 years Expected volatility factor (2) ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 58.4 % ​ ​ ​ N/A ​ ​ ​ 57.0 % - 58.4 % Risk-free interest rate (3) ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 0.3 % ​ ​ ​ N/A ​ ​ ​ 0.30 % - 0.4 % Expected annual dividend yield ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 0 % ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 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 twenty-six weeks ended September 25, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Date ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ Aggregate ​ ​ Stock ​ Average ​ Remaining ​ Intrinsic ​ Options Exercise Price Contractual Life Value ​ ​ ​ ​ ​ ​ ​ (in years) ​ (in thousands) Outstanding at March 27, 2021 1,111,919 ​ $ 20.94 ​ ​ ​ ​ ​ Granted — ​ $ — ​ ​ ​ ​ ​ Exercised ​ (281,513) ​ $ 16.13 ​ ​ ​ $ 17,784 Cancelled, forfeited or expired (7,703) ​ $ 21.73 ​ ​ ​ ​ ​ Outstanding at September 25, 2021 822,703 ​ $ 22.58 6.8 ​ $ 60,471 Vested and expected to vest after September 25, 2021 822,703 ​ $ 22.58 6.8 ​ $ 60,471 Exercisable at September 25, 2021 163,995 ​ $ 17.87 5.1 ​ $ 12,826 ​ A summary of the status of non-vested stock options as of September 25, 2021 including changes during the twenty-six weeks ended September 25, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ Shares Fair Value Nonvested at March 27, 2021 952,929 ​ $ 8.36 Granted — ​ $ — Vested (286,518) ​ $ 6.78 Nonvested shares forfeited (7,703) ​ $ 9.51 Nonvested at September 25, 2021 658,708 ​ $ 9.04 ​ Restricted Stock Units ​ During the thirteen weeks ended September 25, 2021, the Company granted 4,433 restricted stock units to various employees under the 2020 Plan. The shares granted vest in four ​ During the twenty-six weeks ended September 25, 2021, the Company granted 64,275 restricted stock units to various directors and employees under the 2020 Plan. The shares granted to employees vest in four first ​ During the thirteen weeks ended September 26, 2020, the Company granted 8,066 restricted stock units to various employees under the 2014 Plan. The shares granted to employees vest in four first ​ During the twenty-six weeks ended September 26, 2020, the Company granted 175,527 restricted stock units to various directors and employees under the 2014 Plan. The shares granted to employees vest in four installments beginning on the grant date, provided that the respective award recipient continues to be employed by the Company through each of those dates (subject to certain exceptions). The shares granted to the Company’s directors vest on the first ​ Performance Share Units ​ During the thirteen weeks ended September 25, 2021, the Company did not grant any performance share units. ​ During the twenty-six weeks ended September 25, 2021, the company granted ​ During the thirteen and twenty-six weeks ended September 26, 2020, the Company did not grant any performance share units. ​ The performance share units granted during the twenty-six weeks ended September 25, 2021 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 28, 2021 and ending March 30, 2024. 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 twenty-six weeks ended September 25, 2021 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, subject to certain exceptions. 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 $2.8 million and $1.7 million for the thirteen weeks ended September 25, 2021 and September 26, 2020, respectively. Stock-based compensation expense was $6.0 million and $3.5 million for the twenty-six weeks ended September 25, 2021 and September 26, 2020, respectively. Stock-based compensation expense of $0.3 million and $0.2 million was recorded in cost of goods sold in the condensed consolidated statements of operations for the thirteen weeks ended September 25, 2021 and September 26, 2020, respectively. Stock-based compensation expense of $1.0 million and $0.8 million was recorded in cost of goods sold in the condensed consolidated statements of operations for the twenty-six weeks ended September 25, 2021 and September 26, 2020, respectively. All other stock-based compensation expense is included in selling, general and administrative expenses in the condensed consolidated statements of operations. ​ As of September 25, 2021, there was $3.2 million of total unrecognized stock-based compensation expense related to unvested stock options, with a weighted-average remaining recognition period of 1.92 years. As of September 25, 2021, there was $6.2 million of total unrecognized stock-based compensation expense related to restricted stock units, with a weighted-average remaining recognition period of 2.71 years. As of September 25, 2021, there was $3.4 million of total unrecognized stock-based compensation expense related to performance share units, with a weighted-average remaining recognition period of 2.36 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 25, 2021
Commitments and Contingencies
Commitments and Contingencies	6. Commitments and Contingencies ​ The Company is involved, from time to time, in litigation that is incidental to its business. The Company has reviewed these matters to determine if reserves are required for losses that are probable and reasonable to estimate in accordance with FASB ASC Topic 450, Contingencies ​ 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 September 25, 2021. ​ On February 27, 2020, one employee, on behalf of themself and all other similarly situated employees, filed a class action lawsuit against the Company, which includes claims for penalties under California’s Private Attorney General Act, in the Sacramento County Superior Court, Case No. 34-2019-00272000-CU-OE-GDS, alleging violations of California’s wage and hour, overtime, meal periods and rest breaks, and an alleged violation of the suitable seating requirement as per California Labor Law among other things. The complaint seeks an unspecified amount of damages and penalties. The Company intends to defend this claim vigorously. As of September 25, 2021, the Company has recorded an amount for the estimated probable loss, which is not material to the condensed consolidated financial statements. Depending on the actual outcome of pending litigation, charges in excess of such recorded amount could be recorded in the future, which may have a material adverse effect on the Company’s financial position, results of operations or liquidity. ​ 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	6 Months Ended
	Sep. 25, 2021
Leases
Leases	7. 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 costs of goods sold and 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. During both the thirteen and twenty-six weeks ended September 25, 2021, the Company did not record ROU asset impairment charges related to its stores. During both the thirteen and twenty-six weeks ended September 26, 2020, the Company recorded ROU asset impairment charges of $0.3 million related to its stores. ​ 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 September 25, 2021 and March 27, 2021 consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet Classification ​ September 25, 2021 ​ March 27, 2021 Assets ​ ​ ​ ​ ​ ​ ​ ​ Finance lease assets ​ Right-of-use assets, net ​ $ 10,766 ​ $ 8,036 Operating lease assets ​ Right-of-use assets, net ​ 199,198 ​ 178,791 Total lease assets ​ ​ ​ $ 209,964 ​ $ 186,827 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Short-term lease liabilities ​ $ 1,257 ​ $ 1,164 Operating ​ Short-term lease liabilities ​ ​ 41,735 ​ ​ 38,236 Total short-term lease liabilities ​ ​ ​ $ 42,992 ​ $ 39,400 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-Current ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Long-term lease liabilities ​ $ 16,176 ​ $ 13,507 Operating ​ Long-term lease liabilities ​ ​ 190,812 ​ ​ 168,329 Total long-term lease liabilities ​ ​ ​ $ 206,988 ​ $ 181,836 Total lease liabilities ​ ​ ​ $ 249,980 ​ $ 221,236 ​ Total lease costs for the thirteen and twenty-six weeks ended September 25, 2021 and September 26, 2020 were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Twenty-Six Weeks Ended ​ (in thousands) Statement of Operations Classification September 25, 2021 ​ September 26, 2020 ​ ​ September 25, 2021 ​ September 26, 2020 ​ Finance lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ Cost of goods sold ​ $ 219 ​ $ 219 ​ ​ $ 419 ​ $ 448 ​ Interest on lease liabilities ​ Interest expense ​ ​ 197 ​ ​ 193 ​ ​ ​ 399 ​ ​ 380 ​ Total finance lease cost ​ ​ ​ $ 416 ​ $ 412 ​ ​ $ 818 ​ $ 828 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ Cost of goods sold ​ $ 11,894 ​ $ 11,004 ​ ​ $ 23,504 ​ $ 21,656 ​ Operating lease cost ​ Selling, general and administrative expenses ​ ​ 356 ​ ​ 30 ​ ​ ​ 680 ​ ​ 264 ​ Short-term lease cost ​ Selling, general and administrative expenses ​ ​ 680 ​ ​ 405 ​ ​ ​ 1,261 ​ ​ 864 ​ Variable lease cost ​ Selling, general and administrative expenses ​ ​ 1,236 ​ ​ 438 ​ ​ ​ 2,272 ​ ​ 857 ​ Sublease income ​ Cost of goods sold ​ ​ — ​ ​ (156) ​ ​ ​ — ​ ​ (312) ​ Total lease cost ​ ​ ​ $ 14,582 ​ $ 12,133 ​ ​ $ 28,535 ​ $ 24,157 ​ ​ The following table summarizes future lease payments as of September 25, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases Fiscal Year ​ (in thousands) ​ (in thousands) 2022 ​ $ 26,212 ​ $ 806 2023 ​ 50,050 ​ 1,551 2024 ​ 44,236 ​ 1,535 2025 ​ ​ 38,717 ​ ​ 1,506 2026 ​ ​ 32,827 ​ ​ 1,543 Thereafter ​ 81,350 ​ 16,505 Total ​ ​ 273,392 ​ ​ 23,446 Less: Imputed interest ​ ​ (40,845) ​ ​ (6,013) Present value of net lease payments ​ $ 232,547 ​ $ 17,433 ​ The following table includes supplemental lease information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-Six Weeks Ended ​ ​ Twenty-Six Weeks Ended ​ Supplemental Cash Flow Information (dollars in thousands) ​ September 25, 2021 ​ ​ September 26, 2020 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 24,661 ​ ​ $ 22,123 ​ Operating cash flows from finance leases ​ — ​ ​ 1 ​ Financing cash flows from finance leases ​ ​ 789 ​ ​ ​ 1,009 ​ ​ ​ $ 25,450 ​ ​ $ 23,133 ​ Lease liabilities arising from new right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 39,693 ​ ​ $ 18,807 ​ Finance leases ​ $ 3,148 ​ ​ $ 1,366 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term (in years) ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.5 ​ ​ ​ 6.3 ​ Finance leases ​ ​ 13.7 ​ ​ ​ 14.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 5.1 % ​ ​ 6.1 % Finance leases ​ ​ 10.9 % ​ ​ 12.1 % ​

Income Taxes

Income Taxes	6 Months Ended
	Sep. 25, 2021
Income Taxes
Income Taxes	8. Income Taxes ​ The Company accounts for income taxes in accordance with ASC 740, Income Taxes ​ The income tax rate was 22.7% and 25.6% for the thirteen weeks ended September 25, 2021 and September 26, 2020, respectively, and 21.6% and 24.3% for the twenty-six weeks ended September 25, 2021 and September 26, 2020, respectively. The tax rate for the thirteen and twenty-six weeks ended September 25, 2021 was lower than the tax rate for the thirteen and twenty-six weeks ended September 26, 2020, primarily due to a higher tax benefit due to income tax accounting for share-based compensation compared to a lower tax benefit in the thirteen and twenty-six weeks ended September 26, 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 September 25, 2021. 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 September 25, 2021 and March 27, 2021, 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 September 25, 2021, the Company is not aware of tax examinations (current or potential) in any tax jurisdictions.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Sep. 25, 2021
Related Party Transactions
Related Party Transactions	9. Related Party Transactions ​ During the thirteen and twenty-six weeks ended September 25, 2021 and September 26, 2020, the Company had capital expenditures with Floor & Decor Holdings, Inc., a specialty retail vendor in the flooring market. These capital expenditures amounted to $0.1 million and less than $0.1 million in the thirteen weeks ended September 25, 2021 and September 26, 2020, respectively. These capital expenditures amounted to $0.4 million and less than $0.1 million in the twenty-six weeks ended September 25, 2021 and September 25, 2020, respectively, 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	6 Months Ended
	Sep. 25, 2021
Earnings Per Share
Earnings Per Share	10. 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 earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-Six Weeks Ended ​ ​ September 25, ​ September 26, ​ September 25, ​ September 26, (in thousands, except per share data) 2021 2020 2021 2020 Net income ​ $ 37,861 ​ $ 5,758 ​ $ 78,506 ​ $ 5,268 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic shares outstanding ​ 29,555 ​ 28,860 ​ 29,458 ​ 28,843 Dilutive effect of options and restricted stock ​ 801 ​ 363 ​ 854 ​ 322 Weighted average diluted shares outstanding ​ 30,356 ​ 29,223 ​ 30,312 ​ 29,165 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per share ​ $ 1.28 ​ $ 0.20 ​ $ 2.67 ​ $ 0.18 Diluted earnings per share ​ $ 1.25 ​ $ 0.20 ​ $ 2.59 ​ $ 0.18 ​ Options to purchase zero shares and 988,442 shares of common stock were outstanding during the thirteen weeks ended September 25, 2021 and September 26, 2020, 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. ​ Options to purchase zero shares and 1,033,458 shares of common stock were outstanding during the twenty-six weeks ended September 25, 2021 and September 26, 2020, 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)	6 Months Ended
	Sep. 25, 2021
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 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. COVID-19 has had and may continue to have a significant impact on economic conditions and consumer confidence. There remains uncertainty around the duration and impact of the COVID-19 pandemic 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.
Basis of Presentation	Basis of Presentation ​ The Company’s condensed consolidated financial statements as of and for the thirteen weeks ended September 25, 2021 and September 26, 2020 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”). On September 26, 2021, Sheplers, Inc. and Sheplers Holding Corporation each were converted to limited liability companies, Sheplers, LLC and Sheplers Holding LLC, respectively. 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 26, 2022.
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 26, 2022
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 condensed 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 using the weighted-average cost method (which approximates the first-in, first-out method) 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 (“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 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, incremental borrowing 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 4, “Revolving Credit Facilities and Long-Term Debt” are not readily available, the Company believes its carrying value approximates fair value due to the variable interest rates, which are Level 2 inputs. There were no financial assets or liabilities ​
Recent Accounting Pronouncements and Recently Adopted Accounting Pronouncements	Recent Accounting Pronouncements ​ In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848), which clarifies some of its guidance around reference rate reform activities as global market participants undertake efforts to transition from using or referencing the London Interbank Offered Rate (LIBOR) and other interbank offered rates to using or referencing alternative reference rates. The amendments in this ASU if elected by an entity, are effective immediately. Unlike other topics, the provisions of this update are only available until December 31, 2022, by which time the reference rate replacement activity is expected to be completed. The Company does not expect the revised standard to have an impact on its 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 $3.2 million as of September 25, 2021 and $2.1 million as of September 26, 2020. The following table provides a reconciliation of the activity related to the Company’s customer loyalty program: ​ ​ ​ ​ ​ ​ ​ ​ Customer Loyalty Program ​ ​ ​ ​ ​ (in thousands) September 25, 2021 ​ September 26, 2020 Beginning balance as of March 27, 2021 and March 28, 2020, respectively $ 2,485 ​ $ 2,076 Year-to-date provisions ​ ​ 5,817 ​ ​ 1,878 Year-to-date award redemptions ​ ​ (5,087) ​ ​ (1,857) Ending balance ​ $ 3,215 ​ $ 2,097 ​ 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 return 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. deferred revenue is recorded in accrued expenses and other current liabilities in the consolidated balance sheets. The following table provides a reconciliation of the activity related to the Company’s gift card program: ​ ​ ​ ​ ​ ​ ​ ​ Gift Card Program ​ ​ ​ ​ ​ (in thousands) September 25, 2021 ​ September 26, 2020 Beginning balance as of March 27, 2021 and March 28, 2020, respectively $ 11,569 ​ $ 10,118 Year-to-date issued ​ ​ 8,228 ​ ​ 4,461 Year-to-date redemptions ​ ​ (8,395) ​ ​ (4,670) Ending balance ​ $ 11,402 ​ $ 9,909 ​ Disaggregated Revenue The Company disaggregates net sales into the following major merchandise categories: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Twenty-Six Weeks Ended % of Net Sales ​ September 25, 2021 ​ September 26, 2020 ​ ​ September 25, 2021 ​ September 26, 2020 Footwear ​ 50% ​ 55% ​ ​ 50% ​ 57% Apparel ​ ​ 33% ​ 30% ​ ​ 33% ​ 29% Hats, accessories and other ​ ​ 17% ​ 15% ​ ​ 17% ​ 14% Total ​ ​ 100% ​ 100% ​ ​ 100% ​ 100% ​ The Company further disaggregates net sales between stores and e-commerce: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Twenty-Six Weeks Ended % of Net Sales ​ September 25, 2021 ​ September 26, 2020 ​ ​ September 25, 2021 ​ September 26, 2020 Stores ​ 86% ​ 83% ​ ​ 86% ​ 79% E-commerce ​ ​ 14% ​ 17% ​ ​ 14% ​ 21% Total ​ ​ 100% ​ 100% ​ ​ 100% ​ 100%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Sep. 25, 2021
Schedule of disaggregated revenue	The Company disaggregates net sales into the following major merchandise categories: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Twenty-Six Weeks Ended % of Net Sales ​ September 25, 2021 ​ September 26, 2020 ​ ​ September 25, 2021 ​ September 26, 2020 Footwear ​ 50% ​ 55% ​ ​ 50% ​ 57% Apparel ​ ​ 33% ​ 30% ​ ​ 33% ​ 29% Hats, accessories and other ​ ​ 17% ​ 15% ​ ​ 17% ​ 14% Total ​ ​ 100% ​ 100% ​ ​ 100% ​ 100% ​ The Company further disaggregates net sales between stores and e-commerce: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Twenty-Six Weeks Ended % of Net Sales ​ September 25, 2021 ​ September 26, 2020 ​ ​ September 25, 2021 ​ September 26, 2020 Stores ​ 86% ​ 83% ​ ​ 86% ​ 79% E-commerce ​ ​ 14% ​ 17% ​ ​ 14% ​ 21% Total ​ ​ 100% ​ 100% ​ ​ 100% ​ 100%
Customer Loyalty Program
Schedule of reconciliation of the activity related to contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ Customer Loyalty Program ​ ​ ​ ​ ​ (in thousands) September 25, 2021 ​ September 26, 2020 Beginning balance as of March 27, 2021 and March 28, 2020, respectively $ 2,485 ​ $ 2,076 Year-to-date provisions ​ ​ 5,817 ​ ​ 1,878 Year-to-date award redemptions ​ ​ (5,087) ​ ​ (1,857) Ending balance ​ $ 3,215 ​ $ 2,097
Gift Card Program
Schedule of reconciliation of the activity related to contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ Gift Card Program ​ ​ ​ ​ ​ (in thousands) September 25, 2021 ​ September 26, 2020 Beginning balance as of March 27, 2021 and March 28, 2020, respectively $ 11,569 ​ $ 10,118 Year-to-date issued ​ ​ 8,228 ​ ​ 4,461 Year-to-date redemptions ​ ​ (8,395) ​ ​ (4,670) Ending balance ​ $ 11,402 ​ $ 9,909

Intangible Assets, Net and Go_2

Intangible Assets, Net and Goodwill (Tables)	6 Months Ended
	Sep. 25, 2021
Intangible Assets, Net and Goodwill
Schedule of net finite-lived intangible assets	Net intangible assets as of September 25, 2021 and March 27, 2021 consisted of the following (in thousands, except for weighted average useful life): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 25, 2021 ​ ​ Gross ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (173) ​ $ 172 5.0 Trademarks—definite lived ​ ​ 15 ​ ​ (15) ​ ​ — ​ 3.0 Total definite lived ​ 360 ​ (188) ​ 172 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (188) ​ $ 60,849 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 27, 2021 ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (137) ​ $ 208 5.0 Trademarks-definite lived ​ ​ 15 ​ ​ (15) ​ ​ — ​ 3.0 Total definite lived ​ 360 ​ (152) ​ 208 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (152) ​ $ 60,885 ​ ​
Schedule of net indefinite-lived intangible assets	Net intangible assets as of September 25, 2021 and March 27, 2021 consisted of the following (in thousands, except for weighted average useful life): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 25, 2021 ​ ​ Gross ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (173) ​ $ 172 5.0 Trademarks—definite lived ​ ​ 15 ​ ​ (15) ​ ​ — ​ 3.0 Total definite lived ​ 360 ​ (188) ​ 172 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (188) ​ $ 60,849 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 27, 2021 ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Average ​ Amount Amortization Net Useful Life Customer lists ​ $ 345 ​ $ (137) ​ $ 208 5.0 Trademarks-definite lived ​ ​ 15 ​ ​ (15) ​ ​ — ​ 3.0 Total definite lived ​ 360 ​ (152) ​ 208 ​ ​ Trademarks—indefinite lived ​ 60,677 ​ — ​ 60,677 ​ ​ Total intangible assets ​ $ 61,037 ​ $ (152) ​ $ 60,885 ​ ​
Schedule of estimated future amortization of intangible assets	As of September 25, 2021, estimated future amortization of intangible assets was as follows: ​ ​ ​ ​ ​ Fiscal Year (in thousands) 2022 $ 36 2023 ​ 62 2024 ​ 54 2025 ​ 20 2026 ​ - Thereafter ​ - Total ​ $ 172

Revolving Credit Facilities a_2

Revolving Credit Facilities and Long-Term Debt (Tables)	6 Months Ended
	Sep. 25, 2021
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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 25, ​ March 27, (in thousands) 2021    2021 Term Loan ​ $ 50,000   ​ $ 111,500 Unamortized value of the debt issuance costs and debt discount ​ ​ (601) ​ ​ (1,719) Net carrying value ​ $ 49,399 ​ $ 109,781
Schedule of aggregate contractual maturities for the Company's long-term debt	Aggregate contractual maturities for the Company’s long-term debt as of September 25, 2021 are as follows: ​ ​ ​ ​ ​ Fiscal Year ​ (in thousands) 2022 $ — 2023 ​ — 2024 ​ 50,000 2025 ​ — 2026 ​ — Total ​ $ 50,000

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Sep. 25, 2021
Stock-Based Compensation
Schedule of assumptions used to determine fair value of stock options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-Six Weeks Ended ​ ​ ​ ​ September 25, ​ ​ September 26, ​ September 25, ​ September 26, ​ ​ ​ 2021 ​ 2020 2021 2020 Expected option term (1) ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 6.3 years ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 6.3 years Expected volatility factor (2) ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 58.4 % ​ ​ ​ N/A ​ ​ ​ 57.0 % - 58.4 % Risk-free interest rate (3) ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 0.3 % ​ ​ ​ N/A ​ ​ ​ 0.30 % - 0.4 % Expected annual dividend yield ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 0 % ​ ​ ​ N/A ​ ​ ​ ​ ​ ​ 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 twenty-six weeks ended September 25, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Date ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ Aggregate ​ ​ Stock ​ Average ​ Remaining ​ Intrinsic ​ Options Exercise Price Contractual Life Value ​ ​ ​ ​ ​ ​ ​ (in years) ​ (in thousands) Outstanding at March 27, 2021 1,111,919 ​ $ 20.94 ​ ​ ​ ​ ​ Granted — ​ $ — ​ ​ ​ ​ ​ Exercised ​ (281,513) ​ $ 16.13 ​ ​ ​ $ 17,784 Cancelled, forfeited or expired (7,703) ​ $ 21.73 ​ ​ ​ ​ ​ Outstanding at September 25, 2021 822,703 ​ $ 22.58 6.8 ​ $ 60,471 Vested and expected to vest after September 25, 2021 822,703 ​ $ 22.58 6.8 ​ $ 60,471 Exercisable at September 25, 2021 163,995 ​ $ 17.87 5.1 ​ $ 12,826
Schedule of non-vested stock options	A summary of the status of non-vested stock options as of September 25, 2021 including changes during the twenty-six weeks ended September 25, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ Shares Fair Value Nonvested at March 27, 2021 952,929 ​ $ 8.36 Granted — ​ $ — Vested (286,518) ​ $ 6.78 Nonvested shares forfeited (7,703) ​ $ 9.51 Nonvested at September 25, 2021 658,708 ​ $ 9.04

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 25, 2021
Leases
Schedule of ROU assets and liabilities	ROU assets and lease liabilities as of September 25, 2021 and March 27, 2021 consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheet Classification ​ September 25, 2021 ​ March 27, 2021 Assets ​ ​ ​ ​ ​ ​ ​ ​ Finance lease assets ​ Right-of-use assets, net ​ $ 10,766 ​ $ 8,036 Operating lease assets ​ Right-of-use assets, net ​ 199,198 ​ 178,791 Total lease assets ​ ​ ​ $ 209,964 ​ $ 186,827 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Short-term lease liabilities ​ $ 1,257 ​ $ 1,164 Operating ​ Short-term lease liabilities ​ ​ 41,735 ​ ​ 38,236 Total short-term lease liabilities ​ ​ ​ $ 42,992 ​ $ 39,400 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-Current ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Long-term lease liabilities ​ $ 16,176 ​ $ 13,507 Operating ​ Long-term lease liabilities ​ ​ 190,812 ​ ​ 168,329 Total long-term lease liabilities ​ ​ ​ $ 206,988 ​ $ 181,836 Total lease liabilities ​ ​ ​ $ 249,980 ​ $ 221,236
Schedule of total lease cost	Total lease costs for the thirteen and twenty-six weeks ended September 25, 2021 and September 26, 2020 were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ Twenty-Six Weeks Ended ​ (in thousands) Statement of Operations Classification September 25, 2021 ​ September 26, 2020 ​ ​ September 25, 2021 ​ September 26, 2020 ​ Finance lease cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ Cost of goods sold ​ $ 219 ​ $ 219 ​ ​ $ 419 ​ $ 448 ​ Interest on lease liabilities ​ Interest expense ​ ​ 197 ​ ​ 193 ​ ​ ​ 399 ​ ​ 380 ​ Total finance lease cost ​ ​ ​ $ 416 ​ $ 412 ​ ​ $ 818 ​ $ 828 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ Cost of goods sold ​ $ 11,894 ​ $ 11,004 ​ ​ $ 23,504 ​ $ 21,656 ​ Operating lease cost ​ Selling, general and administrative expenses ​ ​ 356 ​ ​ 30 ​ ​ ​ 680 ​ ​ 264 ​ Short-term lease cost ​ Selling, general and administrative expenses ​ ​ 680 ​ ​ 405 ​ ​ ​ 1,261 ​ ​ 864 ​ Variable lease cost ​ Selling, general and administrative expenses ​ ​ 1,236 ​ ​ 438 ​ ​ ​ 2,272 ​ ​ 857 ​ Sublease income ​ Cost of goods sold ​ ​ — ​ ​ (156) ​ ​ ​ — ​ ​ (312) ​ Total lease cost ​ ​ ​ $ 14,582 ​ $ 12,133 ​ ​ $ 28,535 ​ $ 24,157 ​
Schedule of future lease payments	The following table summarizes future lease payments as of September 25, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases Fiscal Year ​ (in thousands) ​ (in thousands) 2022 ​ $ 26,212 ​ $ 806 2023 ​ 50,050 ​ 1,551 2024 ​ 44,236 ​ 1,535 2025 ​ ​ 38,717 ​ ​ 1,506 2026 ​ ​ 32,827 ​ ​ 1,543 Thereafter ​ 81,350 ​ 16,505 Total ​ ​ 273,392 ​ ​ 23,446 Less: Imputed interest ​ ​ (40,845) ​ ​ (6,013) Present value of net lease payments ​ $ 232,547 ​ $ 17,433
Schedule of supplemental lease information	The following table includes supplemental lease information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-Six Weeks Ended ​ ​ Twenty-Six Weeks Ended ​ Supplemental Cash Flow Information (dollars in thousands) ​ September 25, 2021 ​ ​ September 26, 2020 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 24,661 ​ ​ $ 22,123 ​ Operating cash flows from finance leases ​ — ​ ​ 1 ​ Financing cash flows from finance leases ​ ​ 789 ​ ​ ​ 1,009 ​ ​ ​ $ 25,450 ​ ​ $ 23,133 ​ Lease liabilities arising from new right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 39,693 ​ ​ $ 18,807 ​ Finance leases ​ $ 3,148 ​ ​ $ 1,366 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining lease term (in years) ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.5 ​ ​ ​ 6.3 ​ Finance leases ​ ​ 13.7 ​ ​ ​ 14.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate ​ ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 5.1 % ​ ​ 6.1 % Finance leases ​ ​ 10.9 % ​ ​ 12.1 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Sep. 25, 2021
Earnings Per Share
Schedule of the components of basic and diluted (loss)/earnings per share of common stock	The components of basic and diluted earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-Six Weeks Ended ​ ​ September 25, ​ September 26, ​ September 25, ​ September 26, (in thousands, except per share data) 2021 2020 2021 2020 Net income ​ $ 37,861 ​ $ 5,758 ​ $ 78,506 ​ $ 5,268 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic shares outstanding ​ 29,555 ​ 28,860 ​ 29,458 ​ 28,843 Dilutive effect of options and restricted stock ​ 801 ​ 363 ​ 854 ​ 322 Weighted average diluted shares outstanding ​ 30,356 ​ 29,223 ​ 30,312 ​ 29,165 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per share ​ $ 1.28 ​ $ 0.20 ​ $ 2.67 ​ $ 0.18 Diluted earnings per share ​ $ 1.25 ​ $ 0.20 ​ $ 2.59 ​ $ 0.18

Description of the Company, R_2

Description of the Company, Recent Developments and Basis of Presentation (Details)	12 Months Ended
	Mar. 26, 2022	Mar. 27, 2021storestateshares	Sep. 25, 2021storeVotestateshares
Business Operations
Number of shares authorized		100,000,000	100,000,000
Number of shares issued		29,348,000	29,734,050
Number of shares outstanding			29,601,790
Number of votes per common share | Vote			1
Number of stores | store		273	278
Number of states in which the Company operates | state		36	36
Fiscal Year
Fiscal year period		364 days
Subsequent Event
Fiscal Year
Fiscal year period	364 days
American Worker
Business Operations
Number of stores | store			2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) $ in Thousands	6 Months Ended
	Sep. 25, 2021USD ($)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	6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020
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	$ 3,215	$ 2,097
Reconciliation of Activity in Program
Beginning balance	2,485	2,076
Year-to-date provisions	5,817	1,878
Year-to-date redemptions	(5,087)	(1,857)
Ending balance	$ 3,215	$ 2,097

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Gift Card Program (Details) - Gift Card Program - USD ($) $ in Thousands	6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020
Reconciliation of Activity in Program
Beginning balance	$ 11,569	$ 10,118
Year-to-date issued	8,228	4,461
Year-to-date redemptions	(8,395)	(4,670)
Ending balance	$ 11,402	$ 9,909

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Disaggregated Revenue (Details)	3 Months Ended		6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Disaggregation Of Revenue
Net sales percentage	100.00%	100.00%	100.00%	100.00%
Stores
Disaggregation Of Revenue
Net sales percentage	86.00%	83.00%	86.00%	79.00%
E-commerce
Disaggregation Of Revenue
Net sales percentage	14.00%	17.00%	14.00%	21.00%
Footwear
Disaggregation Of Revenue
Net sales percentage	50.00%	55.00%	50.00%	57.00%
Apparel
Disaggregation Of Revenue
Net sales percentage	33.00%	30.00%	33.00%	29.00%
Hats, accessories and other
Disaggregation Of Revenue
Net sales percentage	17.00%	15.00%	17.00%	14.00%

Intangible Assets, Net and Go_3

Intangible Assets, Net and Goodwill - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020	Mar. 27, 2021
Intangible assets, net
Gross Carrying Amount	$ 360		$ 360		$ 360
Accumulated Amortization	(188)		(188)		(152)
Net	172		172		208
Gross carrying amount	61,037		61,037		61,037
Intangible assets, net	60,849		60,849		60,885
Amortization of intangible assets			36	$ 44
Fiscal year
2022	36		36
2023	62		62
2024	54		54
2025	20		20
Total	172		172
Trademarks
Intangible assets, net
Indefinite-lived intangible assets	60,677		60,677		60,677
Maximum
Intangible assets, net
Amortization of intangible assets	100	$ 100	100	$ 100
Customer lists
Intangible assets, net
Gross Carrying Amount	345		345		345
Accumulated Amortization	(173)		(173)		(137)
Net	172		$ 172		$ 208
Weighted Average Useful Life			5 years		5 years
Trademarks
Intangible assets, net
Gross Carrying Amount	15		$ 15		$ 15
Accumulated Amortization	$ (15)		$ (15)		$ (15)
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		6 Months Ended
	Sep. 25, 2021USD ($)	Sep. 26, 2020USD ($)	Sep. 25, 2021USD ($)item	Sep. 26, 2020USD ($)	Mar. 27, 2021USD ($)
Intangible Assets, Net and Goodwill
Goodwill	$ 197,502		$ 197,502		$ 197,502
Number of indicators of impairment for goodwill | item			0
Impairments of long lived assets	$ 0	$ 700	$ 0	$ 700

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 ($)	Jun. 29, 2015USD ($)	Sep. 25, 2021USD ($)	Jun. 26, 2021USD ($)	Sep. 26, 2020USD ($)	Sep. 25, 2021USD ($)	Sep. 26, 2020USD ($)	Dec. 29, 2018	Jul. 26, 2021USD ($)	Mar. 27, 2021USD ($)	May 26, 2017USD ($)
Interest expense
Revolving credit facilities and long-term debt
Amortization of deferred loan fees					$ 100,000		$ 200,000	$ 300,000	$ 400,000
Deferred loan fees written off					900,000
Golub Term Loan
Revolving credit facilities and long-term debt
Principal amount	$ 111,500,000			$ 200,000,000		$ 50,000,000
Interest expense					$ 700,000		$ 1,600,000	$ 1,900,000	$ 3,200,000
Weighted average interest rate (as a percent)					5.50%		5.50%	5.50%	5.50%
Periodic payment								$ 500,000
Repayments of loan	65,000,000	$ 10,000,000	$ 10,000,000			61,500,000
Additional interest rate required if certain triggering events come into existence (as a percent)				2.00%
Deferred loan fees				$ 7,100,000
Term loan					$ 50,000,000			50,000,000				$ 111,500,000
Unamortized value of the debt issuance costs and debt discount					(601,000)			(601,000)				(1,719,000)
Total					49,399,000			49,399,000				109,781,000
Deferred loan fees written off						$ 900,000
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							$ 180,000,000		$ 135,000,000
Commitment fee on unused capacity (as a percentage)				0.25%
Amount outstanding under 2015 Wells Fargo Revolver					0			0				0
Interest expense					100,000		$ 400,000	300,000	$ 1,000,000
Weighted average interest rate (as a percent)							1.40%		1.40%
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)			$ (300,000)				$ (300,000)
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	Sep. 25, 2021	Mar. 27, 2021
Fiscal year
2024	$ 50,000
Total	$ 50,000	$ 111,500

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020	Mar. 27, 2021	Aug. 26, 2020	Oct. 19, 2014	Jan. 27, 2012
Stock-Based Compensation
Common stock, par value (in dollars per share)	$ 0.0001		$ 0.0001		$ 0.0001
Stock-based compensation expense	$ 2.8	$ 1.7	$ 6	$ 3.5
Cost of goods sold
Stock-Based Compensation
Stock-based compensation expense	$ 0.3	$ 0.2	$ 1	$ 0.8
Options
Stock-Based Compensation
Stock options granted	0		0
Vested			286,518
Unrecognized stock-based compensation expense for option	$ 3.2		$ 3.2
Weighted-average recognition period			1 year 11 months 1 day
Restricted Stock Awards
Stock-Based Compensation
Unrecognized stock-based compensation expense for other than option	$ 6.2		$ 6.2
Weighted-average recognition period			2 years 8 months 15 days
Performance share units
Stock-Based Compensation
Vesting period			3 years
Restricted stock or performance share units granted	0	0		0
Service period			3 years
Unrecognized stock-based compensation expense	$ 3.4		$ 3.4
Weighted-average recognition period			2 years 4 months 9 days
Performance share units | Minimum
Stock-Based Compensation
Vesting percentage			0.00%
Performance share units | Maximum
Stock-Based Compensation
Vesting percentage			200.00%
Performance share units | Below Threshold
Stock-Based Compensation
Vesting percentage			0.00%
Performance share units | Threshold
Stock-Based Compensation
Vesting percentage			50.00%
Performance share units | Target
Stock-Based Compensation
Vesting percentage			100.00%
Performance share units | Maximum Level
Stock-Based Compensation
Vesting percentage			200.00%
2011 Plan
Stock-Based Compensation
Shares authorized								3,750,000
2011 Plan | Options
Stock-Based Compensation
Expiration period			10 years
Vesting period			5 years
2014 Plan
Stock-Based Compensation
Shares authorized							3,600,000
2014 Plan | Options | Minimum
Stock-Based Compensation
Expiration period			8 years
Vesting period			4 years
2014 Plan | Options | Maximum
Stock-Based Compensation
Expiration period			10 years
Vesting period			5 years
2014 Plan | Options | Members of management
Stock-Based Compensation
Stock options granted		22,838		287,373
Aggregate grant date fair value		$ 0.3		$ 3.1
Grant date fair value (in dollars per share)		$ 12.71
Exercise price (in dollars per share)		$ 23.57		$ 23.57
Service period		4 years		4 years
2014 Plan | Options | Members of management | Minimum
Stock-Based Compensation
Grant date fair value (in dollars per share)				$ 10.40
Exercise price (in dollars per share)		$ 20.94		20.94
2014 Plan | Options | Members of management | Maximum
Stock-Based Compensation
Grant date fair value (in dollars per share)				12.71
Exercise price (in dollars per share)		$ 24.08		$ 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		8,066		175,527
Restricted stock or performance share units granted fair value		$ 0.2		$ 3.7
2014 Plan | Restricted Stock Units | Employees
Stock-Based Compensation
Vesting period		4 years		4 years
2014 Plan | Restricted Stock Units | Director
Stock-Based Compensation
Vesting period		1 year		1 year
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
2020 Plan
Stock-Based Compensation
Shares authorized						2,000,000
2020 Plan | Restricted Stock Units
Stock-Based Compensation
Vesting period	4 years
Restricted stock or performance share units granted	4,433		64,275
Restricted stock or performance share units granted fair value	$ 0.4		$ 5.1
2020 Plan | Restricted Stock Units | Employees
Stock-Based Compensation
Vesting period			4 years
2020 Plan | Restricted Stock Units | Director
Stock-Based Compensation
Vesting period			1 year
2020 Plan | Restricted Stock Units | Minimum
Stock-Based Compensation
Vesting period			1 year
2020 Plan | Restricted Stock Units | Maximum
Stock-Based Compensation
Vesting period			4 years
2020 Plan | Performance share units
Stock-Based Compensation
Restricted stock or performance share units granted			33,571
Restricted stock or performance share units granted fair value			$ 2.6

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options and Significant Valuation Assumptions (Details) - Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Assumptions used
Expected option term		6 years 3 months 18 days		6 years 3 months 18 days
Expected volatility factor		58.40%
Expected volatility factor, minimum				57.00%
Expected volatility factor, maximum				58.40%
Risk-free interest rate		0.30%
Risk-free interest rate, minimum				0.30%
Risk-free interest rate, maximum				0.40%
Expected annual dividend yield		0.00%		0.00%
Stock Options
Outstanding at the beginning of period			1,111,919
Granted	0		0
Exercised			(281,513)
Canceled, forfeited or expired			(7,703)
Outstanding at the end of period	822,703		822,703
Vested and expected to vest after end of period	822,703		822,703
Exercisable at end of period	163,995		163,995
Grant Date Weighted-Average Exercise Price
Outstanding at the beginning of period			$ 20.94
Exercise price (in dollars per share)			16.13
Canceled, forfeited or expired			21.73
Outstanding at the end of period	$ 22.58		22.58
Vested and expected to vest at end of period	22.58		22.58
Exercisable at end of period	$ 17.87		$ 17.87
Weighted Average Remaining Contractual Life
Weighted average remaining contractual life, awards outstanding			6 years 9 months 18 days
Weighted average remaining contractual life, awards vested and expected to vest			6 years 9 months 18 days
Weighted average remaining contractual life, awards exercisable			5 years 1 month 6 days
Aggregate Intrinsic Value
Aggregate intrinsic value, awards exercised			$ 17,784
Aggregate intrinsic value, awards outstanding	$ 60,471		60,471
Aggregate intrinsic value, awards vested and expected to vest	60,471		60,471
Aggregate intrinsic value, awards exercisable	$ 12,826		$ 12,826

Stock-Based Compensation - Non-

Stock-Based Compensation - Non-vested Options (Details) - Options - $ / shares	3 Months Ended	6 Months Ended
	Sep. 25, 2021	Sep. 25, 2021
Shares
Nonvested at beginning of period		952,929
Granted	0	0
Vested		(286,518)
Nonvested shares forfeited		(7,703)
Nonvested at end of period	658,708	658,708
Weighted-Average Grant Date Fair Value
Nonvested at beginning of period		$ 8.36
Vested		6.78
Nonvested shares forfeited		9.51
Nonvested at end of period	$ 9.04	$ 9.04

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Leases
Lessee, Operating Lease, Existence of Option to Extend [true false]			true
Operating lease renewal term	5 years		5 years
ROU asset impairment charge	$ 0	$ 0.3	$ 0	$ 0.3
Minimum
Leases
Operating lease term	5 years		5 years
Maximum
Leases
Operating lease term	10 years		10 years

Leases - ROU assets and liabili

Leases - ROU assets and liabilities (Details) - USD ($) $ in Thousands	Sep. 25, 2021	Mar. 27, 2021
ROU assets and liabilities
Finance lease assets	$ 10,766	$ 8,036
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Total lease assets	Total lease assets
Operating lease assets	$ 199,198	$ 178,791
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Total lease assets	Total lease assets
Total lease assets	$ 209,964	$ 186,827
Current finance lease liabilities	$ 1,257	$ 1,164
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total short-term lease liabilities	Total short-term lease liabilities
Current operating lease liabilities	$ 41,735	$ 38,236
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	$ 42,992	$ 39,400
Finance Lease, Liability, Noncurrent	$ 16,176	$ 13,507
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total long-term lease liabilities	Total long-term lease liabilities
Operating Lease, Liability, Noncurrent	$ 190,812	$ 168,329
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	$ 206,988	$ 181,836
Total lease liabilities	$ 249,980	$ 221,236

Leases - Lease cost (Details)

Leases - Lease cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Lease cost
Total finance lease cost	$ 416	$ 412	$ 818	$ 828
Total lease cost	14,582	12,133	28,535	24,157
Cost of goods sold
Lease cost
Amortization of right-of-use assets	219	219	419	448
Operating lease cost	11,894	11,004	23,504	21,656
Sublease income		(156)		(312)
Selling, general and administrative expenses
Lease cost
Operating lease cost	356	30	680	264
Short-term lease cost	680	405	1,261	864
Variable lease cost	1,236	438	2,272	857
Interest expense
Lease cost
Interest on lease liabilities	$ 197	$ 193	$ 399	$ 380

Leases - Future lease payments

Leases - Future lease payments (Details) $ in Thousands	Sep. 25, 2021USD ($)
Operating Leases
2022	$ 26,212
2023	50,050
2024	44,236
2025	38,717
2026	32,827
Thereafter	81,350
Total	273,392
Less: Imputed interest	(40,845)
Present value of net lease payments	232,547
Finance Leases
2022	806
2023	1,551
2024	1,535
2025	1,506
2026	1,543
Thereafter	16,505
Total	23,446
Less: Imputed interest	(6,013)
Present value of net lease payments	$ 17,433

Leases - Supplemental lease inf

Leases - Supplemental lease information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020
Supplemental Lease Information
Operating cash flows from operating leases	$ 24,661	$ 22,123
Operating cash flows from finance leases		1
Financing cash flows from finance leases	789	1,009
Cash paid for amounts included in the measurement of lease liabilities	25,450	23,133
Lease liabilities arising from new right-of-use assets-Operating leases	39,693	18,807
Lease liabilities arising from new right-of-use assets-Finance leases	$ 3,148	$ 1,366
Weighted average remaining lease term (in years)-Operating leases	6 years 6 months	6 years 3 months 18 days
Weighted average remaining lease term (in years)-Finance leases	13 years 8 months 12 days	14 years 1 month 6 days
Weighted average discount rate-Operating leases	5.10%	6.10%
Weighted average discount rate-Finance leases	10.90%	12.10%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020	Mar. 27, 2021
Income Taxes
Effective tax rate	22.70%	25.60%	21.60%	24.30%
Accrued interest and penalties	$ 0		$ 0		$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Floor & Decor Holdings, Inc
Related Party Transactions
Capital expenditures related to specialty retail vendor	$ 0.1	$ 0.1	$ 0.4	$ 0.1

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 25, 2021	Jun. 26, 2021	Sep. 26, 2020	Jun. 27, 2020	Sep. 25, 2021	Sep. 26, 2020
Earnings Per Share
Net income (loss)	$ 37,861	$ 40,645	$ 5,758	$ (490)	$ 78,506	$ 5,268
Weighted average basic shares outstanding	29,555,000		28,860,000		29,458,000	28,843,000
Dilutive effect of options and restricted stock	801,000		363,000		854,000	322,000
Weighted average diluted shares outstanding	30,356,000		29,223,000		30,312,000	29,165,000
Basic earnings per share	$ 1.28		$ 0.20		$ 2.67	$ 0.18
Diluted earnings per share	$ 1.25		$ 0.20		$ 2.59	$ 0.18
Shares that were not included in the computation of weighted average diluted common shares amounts	0		988,442		0	1,033,458