<SEC-DOCUMENT>0001157523-17-000249.txt : 20170131
<SEC-HEADER>0001157523-17-000249.hdr.sgml : 20170131
<ACCEPTANCE-DATETIME>20170131161021
ACCESSION NUMBER:		0001157523-17-000249
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170131
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170131
DATE AS OF CHANGE:		20170131

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Boot Barn Holdings, Inc.
		CENTRAL INDEX KEY:			0001610250
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-SHOE STORES [5661]
		IRS NUMBER:				900776290
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36711
		FILM NUMBER:		17561237

	BUSINESS ADDRESS:	
		STREET 1:		15345 BARRANCA PARKWAY
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618
		BUSINESS PHONE:		949-453-4400

	MAIL ADDRESS:	
		STREET 1:		15345 BARRANCA PARKWAY
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51502202.htm
<DESCRIPTION>BOOT BARN HOLDINGS, INC. 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-size: 18pt"><b>UNITED STATES</b></font><br><font style="font-size: 18pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><b>Washington, D.C. 20549</b><br><br><br><font style="font-size: 18pt"><b>FORM
      8-K</b></font><br><br><font style="font-size: 12pt"><b>CURRENT REPORT</b></font>
    </p>
    <p style="text-align: center">
      <b>&#160;<font style="font-size: 12pt">Pursuant to Section 13 or 15(d)
      of the Securities Exchange Act of 1934</font></b><br><br><br><b>Date of
      Report (Date of earliest event reported): <font style="font-family: Times New Roman; font-size: 10pt">January
      31, 2017</font></b><br><br><br><font style="font-size: 18pt"><b>Boot
      Barn Holdings, Inc.</b></font><br>(Exact name of registrant as specified
      in its charter)
    </p>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="padding-right: 0.0px; width: 34%; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>001-36711</b>
        </td>
        <td style="padding-right: 0.0px; width: 33%; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>90-0776290</b>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          (State or other jurisdiction<br>of incorporation)
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        <td style="width: 34%; text-align: center; padding-left: 0.0px" valign="top">
          (Commission<br>File Number)
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          (I.R.S. Employer<br>Identification No.)
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>15345 Barranca Parkway, Irvine, California</b>
          </p>
        </td>
        <td style="padding-right: 0.0px; width: 50%; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>92618</b>
        </td>
      </tr>
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        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="top">
          (Address of principal executive offices)
        </td>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="top">
          (Zip Code)
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <b>(949) 453-4400</b><br>(Registrant&#8217;s telephone number, including area
      code)<br><br><b>Not Applicable</b><br>(Former name or former address, if
      changed since last report)
    </p>
    <p style="text-align: center">

    </p>
    <p>
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="white-space: nowrap">

    </p>
    <p>
      <b>Item 2.02&#160;&#160;&#160;Results of Operations and Financial Condition</b>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      On January 31, 2017, Boot Barn Holdings, Inc. issued a press release
      announcing certain financial results for its fiscal quarter and nine
      months ended December 24, 2016.&#160;&#160;The press release is attached hereto as
      Exhibit 99.1.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      The information provided in this Item 2.02, including Exhibit 99.1, is
      intended to be &#8220;furnished&#8221; and shall not be deemed &#8220;filed&#8221; for purposes
      of Section 18 of the Securities Exchange Act of 1934, as amended (the
      &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that
      section, nor shall it be deemed incorporated by reference into any other
      filing under the Securities Act of 1933, as amended, or the Exchange
      Act, except as expressly set forth by specific reference in such a
      filing.
    </p>
    <p>
      <b>Item 9.01&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      (d)&#160; Exhibits
    </p>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 2%">
          &#160;
        </td>
        <td style="width: 11%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td style="width: 4%">
          &#160;
        </td>
        <td style="width: 83%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Description of Exhibits</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 2%">

        </td>
        <td style="width: 11%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 83%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 2%">

        </td>
        <td style="width: 11%; text-align: left; padding-left: 0.0px" valign="top">
          Exhibit 99.1
        </td>
        <td style="width: 4%; text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="width: 83%; text-align: left; padding-left: 0.0px" valign="top">
          Earnings press release dated January 31, 2017.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>SIGNATURES</b>
    </p>
    <p>
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Pursuant to the requirements of the Securities Exchange Act of
      1934, the registrant has duly caused this report to be signed on its
      behalf by the undersigned hereunto duly authorized.
    </p>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          BOOT BARN HOLDINGS, INC.
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 10%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 10%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
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        <td style="width: 5%; text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td style="width: 45%; text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            January 31, 2017
          </p>
        </td>
        <td style="width: 4%; text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          By:
        </td>
        <td style="border-bottom-color: black; width: 36%; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          /s/ Gregory V. Hackman
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 36%; text-align: left; padding-left: 0.0px" valign="top">
          Name: Gregory V. Hackman
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 36%; text-align: left; padding-left: 0.0px" valign="top">
          Title: Chief Financial Officer
        </td>
        <td style="width: 10%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>Exhibit List</b>
    </p>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 20%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Description of Exhibits</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%">

        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 20%; text-align: left; padding-left: 0.0px" valign="top">
          Exhibit 99.1
        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Earnings press release dated January 31, 2017.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51502202ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Boot Barn
      Holdings, Inc. Announces Third Quarter Fiscal Year 2017 Financial
      Results; Updates Fiscal Year 2017 Outlook</b></font>
    </p>
    <p>
      IRVINE, Calif.--(BUSINESS WIRE)--January 31, 2017--Boot Barn Holdings,
      Inc. (NYSE:BOOT):
    </p>
    <p>
      Highlights for the quarter ended December 24, 2016, were as follows:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Net sales increased 2.9% to $199.4 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated same store sales increased 0.2%.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $10.5 million, or $0.39 per diluted share, compared to
        net income of $9.9 million, or $0.37 per diluted share (and compared
        to adjusted net income of $12.0 million, or $0.45 per diluted share)
        in the prior-year period.
      </li>
      <li style="margin-bottom: 10.0px">
        The Company opened six new stores.
      </li>
    </ul>
    <p>
      Jim Conroy, Chief Executive Officer, commented, &#8220;I am pleased that we
      were able to generate our third consecutive quarter of positive same
      store sales growth and achieve our earnings guidance. This performance
      is a testament to our diversified business model as we continue to find
      opportunities for sales growth despite the ongoing sales pressure in
      markets dependent on oil and other commodities. We also continue to
      invest in and improve our omni-channel capabilities. In the third
      quarter we posted our fifth consecutive quarter of double-digit growth
      in e-commerce and rolled out an in store touch-screen shopping tablet
      which enables customers to order merchandise from both our e-commerce
      warehouse and directly from most of our branded vendors. I am proud of
      the team&#8217;s efforts as we continue to build a national lifestyle brand
      while navigating a complicated retail environment.&#8221;
    </p>
    <p>
      <b>Operating Results for the Third Quarter Ended December 24, 2016</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Net sales increased 2.9% to $199.4 million from $193.8 million in the
        prior-year period. Net sales increased due to 14 new stores opened
        over the past twelve months and a 0.2% increase in consolidated same
        store sales. Sales growth was partially offset by the planned closure
        of one Sheplers store and the closure of one Boot Barn store over the
        last 12 months.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross profit decreased 1.3% to $63.4 million, or 31.8% of net sales,
        compared to gross profit of $64.2 million, or 33.1% of net sales, in
        the prior-year period. Excluding the amortization of inventory fair
        value adjustment and acquisition-related integration costs, adjusted
        gross profit in the prior-year period was $65.0 million or 33.5% of
        net sales. The decline in gross profit rate compared to the prior year
        was driven by a 100 basis point decline in merchandise margin rate,
        resulting from more e-commerce sales as a percentage of total sales,
        increased freight costs, higher redemption in our annual holiday
        bounce back promotion, and higher shrink. Also contributing to the
        decline in gross profit rate was a 70 basis point increase in store
        occupancy.
      </li>
      <li style="margin-bottom: 10.0px">
        Income from operations was $20.9 million, compared to income from
        operations of $20.2 million in the prior-year period. Excluding the
        amortization of inventory fair value adjustment, acquisition-related
        integration costs, loss on disposal of assets and contract termination
        costs, and SEC filing costs, adjusted income from operations in the
        prior-year period was $23.5 million. The decrease in income from
        operations compared to the prior-year period&#8217;s adjusted income from
        operations was driven primarily by a decrease in adjusted gross profit
        and an increase in adjusted operating expenses related to increased
        sales.
      </li>
      <li style="margin-bottom: 10.0px">
        The Company opened six new stores, ending the quarter with 219 stores
        in 31 states.
      </li>
      <li style="margin-bottom: 10.0px">
        Interest expense was flat compared to the prior-year period at $3.6
        million.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $10.5 million, or $0.39 per diluted share, compared to
        net income of $9.9 million or $0.37 per diluted share in the
        prior-year period. Excluding the amortization of inventory fair value
        adjustment, acquisition-related integration costs, loss on disposal of
        assets and contract termination costs, and SEC filing costs, adjusted
        net income in the third quarter of the prior year was $12.0 million,
        or $0.45 per diluted share.
      </li>
    </ul>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Operating Results for the Nine Months Ended December 24, 2016</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Net sales increased 11.3% to $466.8 million from $419.6 million in the
        prior-year period. Net sales increased due to nine months of sales
        contributions from Sheplers (compared to six months in the prior-year
        period), the opening of 14 new stores over the last twelve months and
        a 0.7% increase in consolidated same store sales. Sales growth was
        partially offset by the planned closure of one Sheplers store and the
        closure of one Boot Barn store over the last 12 months.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross profit increased 7.4% to $140.6 million, or 30.1% of net sales,
        compared to gross profit of $130.8 million, or 31.2% of net sales, in
        the prior-year period. Excluding the amortization of inventory fair
        value adjustment, acquisition-related integration costs and contract
        termination costs, adjusted gross profit in the prior-year period was
        $134.1 million or 32.0% of net sales. The decline in gross profit rate
        when compared to the prior year&#8217;s adjusted gross profit rate was
        driven primarily by a decline in merchandise margin rate, resulting
        from nine months of historically lower margin Sheplers sales compared
        to six months in the prior-year period and more e-commerce sales as a
        percentage of total sales. Also contributing to the decline in gross
        profit rate was an increase in store occupancy.
      </li>
      <li style="margin-bottom: 10.0px">
        Income from operations was $29.8 million, compared to $24.6 million in
        the prior-year period. Excluding the amortization of inventory fair
        value adjustment, acquisition-related expenses and integration costs,
        loss on disposal of assets and contract termination costs, and SEC
        filing costs, adjusted income from operations in the prior-year period
        was $35.0 million. The decrease in income from operations compared to
        the prior year&#8217;s adjusted income from operations was driven primarily
        by an increase in adjusted operating expenses related to nine months
        of the Sheplers business compared to six months in the prior-year
        period and the increase in adjusted operating expenses related to
        increased sales.
      </li>
      <li style="margin-bottom: 10.0px">
        The Company opened ten new stores, ending the period with 219 stores
        in 31 states.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $11.6 million, or $0.43 per diluted share, compared to
        net income of $8.9 million or $0.33 per diluted share in the
        prior-year period. Excluding the amortization of inventory fair value
        adjustment, acquisition-related expenses and integration costs, loss
        on disposal of assets and contract termination costs, SEC filing costs
        and write-off of debt discount, adjusted net income in the prior-year
        period was $16.2 million or $0.60 per diluted share.
      </li>
    </ul>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      A reconciliation of adjusted gross profit, adjusted income from
      operations, adjusted net income and adjusted net income per diluted
      share, each a non-GAAP financial measure, to their most directly
      comparable GAAP financial measures is included in the accompanying
      financial data. Adjusted measures are not presented for the quarter and
      nine months ended December 24, 2016 as there were no adjustments. See
      also &quot;Non-GAAP Financial Measures.&quot;
    </p>
    <p>
      <b>Balance Sheet Highlights as of December 24, 2016</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Cash: $31.2 million
      </li>
      <li style="margin-bottom: 10.0px">
        Inventories: Average inventory per store decreased 3.4% compared to
        December 26, 2015
      </li>
      <li style="margin-bottom: 10.0px">
        Total net debt: $215.8 million, including $23.0 million outstanding on
        revolving credit facility
      </li>
    </ul>
    <p>
      <b>Fiscal Year 2017 Outlook</b>
    </p>
    <p>
      For the fiscal fourth quarter ending April 1, 2017, the Company expects:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        To open two new stores.
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated same store sales growth of flat to 2.0%.
      </li>
      <li style="margin-bottom: 10.0px">
        Income from operations between $11.4 million and $12.7 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income of $4.6 million to $5.4 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income per diluted share of $0.17 to $0.20 based on 27.1 million
        weighted average diluted shares outstanding, which includes $0.03 per
        diluted share attributed to the additional week of the quarter.
      </li>
    </ul>
    <p>
      The Company is updating its guidance for the fiscal year ending April 1,
      2017 and now expects:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        To open 12 new stores, including two stores in the fourth quarter.
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated same store sales growth of approximately 1.0%.
      </li>
      <li style="margin-bottom: 10.0px">
        Income from operations between $41.0 million and $42.3 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income of $16.1 million to $16.9 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income per diluted share of $0.60 to $0.63 based on 26.9 million
        weighted average diluted shares outstanding, which includes $0.03 per
        diluted share attributed to the 53<sup>rd</sup> week.
      </li>
    </ul>
    <p>
      <b>Conference Call Information</b>
    </p>
    <p>
      A conference call to discuss the financial results for the third quarter
      of fiscal year 2017 is scheduled for today, January 31, 2017, at 4:30
      p.m. ET (1:30 p.m. PT). Investors and analysts interested in
      participating in the call are invited to dial (877) 407-4018. The
      conference call will also be available to interested parties through a
      live webcast at investor.bootbarn.com. Please visit the website and
      select the &#8220;Events and Presentations&#8221; link at least 15 minutes prior to
      the start of the call to register and download any necessary software. A
      telephone replay of the call will be available until February 28, 2017,
      by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international)
      and entering the conference identification number: 13653455. Please note
      participants must enter the conference identification number in order to
      access the replay.
    </p>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>About Boot Barn</b>
    </p>
    <p>
      Boot Barn is the nation&#8217;s leading lifestyle retailer of western and
      work-related footwear, apparel and accessories for men, women and
      children. The Company offers its loyal customer base a wide selection of
      work and lifestyle brands. As of the date of this release, Boot Barn
      operates 217 stores in 31 states, in addition to an e-commerce channel <u>www.bootbarn.com</u>.
      The Company also operates <u>www.sheplers.com</u>, the nation&#8217;s leading
      pure play online western and work retailer. Sheplers has been part of
      the western, outdoor, and work lifestyle for over 100 years. For more
      information, call 888-Boot-Barn or visit <u>www.bootbarn.com</u>.
    </p>
    <p>
      <b>Non-GAAP Financial Measures</b>
    </p>
    <p>
      The Company presents adjusted gross profit, adjusted income from
      operations, adjusted net income and adjusted net income per diluted
      share to help the Company describe its operating and financial
      performance. These financial measures are non-GAAP financial measures
      and should not be construed in isolation or as an alternative to actual
      gross profit, actual income from operations, actual net income and
      actual earnings per diluted share and other income or cash flow
      statement data (as presented in the Company&#8217;s consolidated financial
      statements in accordance with generally accepted accounting principles
      in the United States, or GAAP), or as a better indicator of operating
      performance or as a measure of liquidity. These non-GAAP financial
      measures, as defined by the Company, may not be comparable to similar
      non-GAAP financial measures presented by other companies. The Company&#8217;s
      management believes that these non-GAAP financial measures provide
      investors with transparency and help illustrate financial results by
      excluding items that may not be indicative of, or are unrelated to, the
      Company&#8217;s core operating results, thereby providing a better baseline
      for analyzing trends in the underlying business. See the table at the
      end of this press release for a reconciliation of adjusted gross profit
      to gross profit, adjusted income from operations to income from
      operations, adjusted net income to net income, and adjusted net income
      per diluted share to net income per diluted share. In addition, see the
      table at the end of this press release for a presentation of EBITDA, as
      defined in our debt agreements, and a reconciliation of such Debt
      Covenant EBITDA to net income.
    </p>
    <p>
      <b>Forward Looking Statements</b>
    </p>
    <p>
      This press release contains forward-looking statements that are subject
      to risks and uncertainties. All statements other than statements of
      historical fact included in this press release are forward-looking
      statements. Forward-looking statements refer to our current expectations
      and projections relating to, by way of example and without limitation,
      our financial condition, liquidity, profitability, results of
      operations, margins, plans, objectives, strategies, future performance,
      business and industry. You can identify forward-looking statements by
      the fact that they do not relate strictly to historical or current
      facts. These statements may include words such as &quot;anticipate&quot;,
      &quot;estimate&quot;, &quot;expect&quot;, &quot;project&quot;, &quot;plan&#8220;, &quot;intend&quot;, &quot;believe&quot;, &#8220;may&#8221;,
      &#8220;might&#8221;, &#8220;will&#8221;, &#8220;could&#8221;, &#8220;should&#8221;, &#8220;can have&#8221;, &#8220;likely&#8221;, &#8220;outlook&#8221; and
      other words and terms of similar meaning in connection with any
      discussion of the timing or nature of future operating or financial
      performance or other events, but not all forward-looking statements
      contain these identifying words. These forward-looking statements are
      based on assumptions that the Company&#8217;s management has made in light of
      their industry experience and on their perceptions of historical trends,
      current conditions, expected future developments and other factors they
      believe are appropriate under the circumstances. As you consider this
      press release, you should understand that these statements are not
      guarantees of performance or results. They involve risks, uncertainties
      (some of which are beyond the Company&#8217;s control) and assumptions. These
      risks, uncertainties and assumptions include, but are not limited to,
      the following: decreases in consumer spending due to declines in
      consumer confidence, local economic conditions or changes in consumer
      preferences and the Company&#8217;s ability to effectively execute on its
      growth strategy; the failure to realize the anticipated synergies from
      the Sheplers acquisition and other risks of integration, to maintain and
      enhance its strong brand image; to compete effectively; to maintain good
      relationships with its key suppliers; and to improve and expand its
      exclusive product offerings. The Company discusses the foregoing risks
      and other risks in greater detail under the heading &#8220;Risk factors&#8221; in
      the periodic reports filed by the Company with the Securities and
      Exchange Commission. Although the Company believes that these
      forward-looking statements are based on reasonable assumptions, you
      should be aware that many factors could affect the Company&#8217;s actual
      financial results and cause them to differ materially from those
      anticipated in the forward-looking statements. Because of these factors,
      the Company cautions that you should not place undue reliance on any of
      these forward-looking statements. New risks and uncertainties arise from
      time to time, and it is impossible for the Company to predict those
      events or how they may affect the Company. Further, any forward-looking
      statement speaks only as of the date on which it is made. Except as
      required by law, the Company does not intend to update or revise the
      forward-looking statements in this press release after the date of this
      press release.
    </p>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="8" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Boot Barn Holdings, Inc.</b>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (In thousands, except per share data)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>December 24,</b>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="2" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>&#160;&#160;&#160;March 26,&#160;&#160;&#160;</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="2" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>&#160;&#160;&#160;&#160;2016&#160;&#160;&#160;&#160;</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Current assets:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          31,209
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,195
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6,553
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,131
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          180,032
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          176,335
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          16,733
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          15,558
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          234,527
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          203,219
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          82,353
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          76,076
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Goodwill
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          193,095
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          193,095
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Intangible assets, net
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          63,246
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          64,861
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          925
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          2,075
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 15.0px" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          574,146
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          539,326
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Liabilities and stockholders&#8217; equity</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Current liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Line of credit
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          23,020
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          48,815
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          89,496
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          66,553
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Accrued expenses and other current liabilities
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          48,701
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          35,896
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Current portion of notes payable, net of unamortized debt issuance
          costs
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          1,042
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          1,035
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          162,259
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          152,299
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Deferred taxes
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          19,067
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          12,255
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Long-term portion of notes payable, net of unamortized debt issuance
          costs
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          191,783
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          192,579
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Capital lease obligation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,941
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          8,272
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Other liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          16,605
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          12,431
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Total liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          397,655
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          377,836
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Stockholders&#8217; equity:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Common stock, $0.0001 par value; December 24, 2016 - 100,000 shares<br>authorized,
            26,557 shares issued; March 26, 2016 - 100,000 shares<br>authorized,
            26,354 shares issued
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Preferred stock, $0.0001 par value; 10,000 shares authorized, no
            shares issued<br>or outstanding
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          141,340
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          137,893
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          35,203
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          23,594
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Less: Common stock held in treasury, at cost, 12 and 4 shares at
            December<br>24, 2016 and March 26, 2016, respectively
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (55
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: left; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Total stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          176,491
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          161,490
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Total liabilities and stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          574,146
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          539,326
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="15" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Boot Barn Holdings, Inc.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="15" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Consolidated Statements of Operations</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="15" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (In thousands, except per share data)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="15" style="text-align: center; padding-left: 0.0px" valign="top">
          (Unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="6" style="border-bottom-color: black; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          <b>Thirteen Weeks Ended</b>
        </td>
        <td>

        </td>
        <td colspan="6" style="border-bottom-color: black; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          <b>Thirty-Nine Weeks Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 24,</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 26,</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 24,</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 26,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="2" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          199,431
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          193,842
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          466,813
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          419,554
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cost of goods sold
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          136,068
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          129,891
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          326,255
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          289,176
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Amortization of inventory fair value adjustment
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (228
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: left; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (453
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: left; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Total cost of goods sold
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          136,068
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          129,663
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          326,255
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          288,723
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gross profit
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          63,363
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          64,179
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          140,558
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          130,831
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Operating expenses:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Selling, general and administrative expenses
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          42,500
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          43,986
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          110,803
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          105,323
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Acquisition-related expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          891
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Total operating expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          42,500
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          43,986
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          110,803
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          106,214
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income from operations
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          20,863
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          20,193
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          29,755
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          24,617
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Interest expense, net
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          3,637
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          3,553
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          10,848
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          9,347
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income before income taxes
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          17,226
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          16,640
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          18,907
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          15,270
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Income tax expense
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          6,719
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          6,712
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          7,298
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          6,414
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          10,507
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          9,928
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          11,609
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          8,856
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Earnings per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Basic shares
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.40
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.38
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.44
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.34
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Diluted shares
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.39
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.37
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.43
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.33
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Weighted average shares outstanding:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Basic shares
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,495
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,326
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,432
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,116
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Diluted shares
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          27,165
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,871
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,891
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          27,003
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Boot Barn Holdings, Inc.</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Consolidated Statements of Cash Flows</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (In thousands)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="border-bottom-color: black; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          <b>Thirty-Nine Weeks Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 24,</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 26,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Cash flows from operating activities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          11,609
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          8,856
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Adjustments to reconcile net income to net cash provided by
          operating activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Depreciation
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,688
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,670
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Stock-based compensation
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,260
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,143
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Excess tax benefit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (7
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (3,701
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,615
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,852
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Amortization and write-off of debt issuance fees and debt discount
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          843
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,991
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Loss on disposal of property and equipment
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          163
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          237
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accretion of above market leases
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (33
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          54
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Deferred taxes
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,256
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1,060
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Amortization of inventory fair value adjustment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (453
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Changes in operating assets and liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (2,422
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (77
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (3,697
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (13,859
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,256
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          9,057
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Other assets
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,150
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1,550
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          23,513
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          23,053
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Accrued expenses and other current liabilities
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          12,762
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          17,068
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 30.0px" valign="top">
          Other liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          4,207
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          4,387
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 30.0px" valign="top">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          68,163
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          55,668
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Cash flows from investing activities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Purchases of property and equipment
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (17,698
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (30,094
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Acquisition of business, net of cash acquired
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (146,541
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: left; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 45.0px" valign="top">
          Net cash used in investing activities
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (17,698
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: left; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (176,635
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: left; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Cash flows from financing activities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Borrowings/(payments) on line of credit - net
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (25,795
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          13,807
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Proceeds from loan borrowings
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          200,938
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Repayments on debt and capital lease obligations
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1,788
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (77,298
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Debt issuance fees
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (6,487
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Tax withholding payments for net share settlement
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (55
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Excess tax benefit from stock options
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,701
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Proceeds from the exercise of stock options
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          1,180
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          2,698
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 45.0px" valign="top">
          Net cash (used in)/provided by financing activities
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (26,451
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: left; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          137,359
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net increase in cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          24,014
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          16,392
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Cash and cash equivalents, beginning of period
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          7,195
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          1,448
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Cash and cash equivalents, end of period
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          31,209
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          17,840
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Supplemental disclosures of cash flow information:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cash paid for income taxes
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,389
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,901
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cash paid for interest
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,014
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,044
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Supplemental disclosure of non-cash activities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Unpaid purchases of property and equipment
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,422
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2,416
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-left: 0; width: 100%; font-family: Times New Roman; margin-right: 0; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Boot Barn Holdings, Inc.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Supplemental Information - Consolidated Statements of Operations</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Reconciliation of GAAP to Non-GAAP Financial Measures</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          (In thousands, except per share amounts)
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          (Unaudited)
        </td>
      </tr>
    </table>
    </div>
    <p>
      The tables below reconcile the non-GAAP financial measures of adjusted
      gross profit, adjusted income from operations, adjusted net income, and
      adjusted diluted earnings per share, with the most directly comparable
      GAAP financial measures of gross profit, income from operations, net
      income, and diluted earnings per share.
    </p>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="border-bottom-color: black; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          <b>Thirteen Weeks Ended</b>
        </td>
        <td>

        </td>
        <td colspan="7" style="border-bottom-color: black; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="top">
          <b>Thirty-Nine Weeks Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 24,</b>
        </td>
        <td>

        </td>
        <td colspan="4" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 26,</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 24,</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 26,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td colspan="4" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Reconciliation of GAAP gross profit to adjusted gross profit</b>
        </td>
        <td>

        </td>
        <td colspan="8">

        </td>
        <td>

        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gross profit, as reported
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          63,363
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          64,179
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          140,558
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          130,831
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Amortization of inventory fair value adjustment (a)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (228
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (453
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Acquisition-related integration costs (b)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          999
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,330
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Contract termination costs (c)
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          403
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Adjusted gross profit
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          63,363
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          64,950
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          140,558
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          134,111
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Reconciliation of GAAP income from operations to adjusted income
          from operations</b>
        </td>
        <td>

        </td>
        <td colspan="8">

        </td>
        <td>

        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income from operations, as reported
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          20,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          20,193
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          29,755
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          24,617
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Amortization of inventory fair value adjustment (a)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (228
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (453
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Acquisition-related expenses (d)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          891
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Acquisition-related integration costs (b)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,153
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          8,521
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Loss on disposal of assets and contract termination costs (c)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          53
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,107
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          SEC filing costs (e)
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          317
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          317
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Adjusted income from operations
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          20,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          23,488
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          29,755
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          35,000
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Reconciliation of GAAP net income to adjusted net income</b>
        </td>
        <td>

        </td>
        <td colspan="8">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net income, as reported
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,507
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          9,928
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          11,609
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          8,856
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Amortization of inventory fair value adjustment (a)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (228
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (453
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Acquisition-related expenses (d)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          891
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Acquisition-related integration costs (b)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,153
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          8,521
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Loss on disposal of assets and contract termination costs (c)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          53
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,107
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          SEC filing costs (e)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          317
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          317
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Write-off of debt discount (f)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,355
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Provision for income taxes, as reported
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6,712
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6,414
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Adjusted provision for income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (7,937
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: left; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (10,809
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: left; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Adjusted net income
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          10,507
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          11,998
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          11,609
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          16,199
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Reconciliation of adjusted net income per diluted share to net
          income per diluted share</b>
        </td>
        <td>

        </td>
        <td colspan="8">

        </td>
        <td>

        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net income per share, diluted:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net income per share, as reported
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.39
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.37
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.43
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          0.33
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Adjustments
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          0.08
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          0.27
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Adjusted net income per share, diluted
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          0.39
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          0.45
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          0.43
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          $
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          0.60
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Weighted average diluted shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          27,165
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,871
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          26,891
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          27,003
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          (a)
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Represents the amortization of purchase-accounting adjustments that
          decreased the value of inventory acquired to its fair value.
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          (b)
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Represents certain store integration, remerchandising, inventory
          obsolescence and corporate consolidation costs incurred in
          connection with the integration of Sheplers, which we acquired in
          June 2015. Includes an adjustment to normalize the gross margin
          impact of sales of discontinued inventory from Sheplers, which was
          sold at a discount or written off. The adjustment assumes such
          inventory was sold at Sheplers' normalized margin rate.
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          (c)
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Represents loss on disposal of assets and contract termination costs
          from store closures and unused office and warehouse space.
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          (d)
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Includes direct costs and fees related to the acquisition of
          Sheplers that was completed on June 29, 2015.
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          (e)
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Represents professional fees and expenses incurred in connection
          with a Form S-1 Registration Statement filed in July 2015 and
          withdrawn in November 2015.
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          (f)
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Represents the write off of debt discounts and debt issuance costs
          associated with the previously extinguished Wells Fargo Credit
          Facility.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="17" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Boot Barn Holdings, Inc.</b>
        </td>
      </tr>
      <tr>
        <td colspan="17" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Store Count</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Fiscal&#160;Year Ended</b>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>Quarter Ended</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>Quarter Ended</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>Quarter Ended</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>Quarter Ended</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>Quarter Ended</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>Quarter Ended</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>Quarter Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          <b>March 28,</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>June 27,</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>September 26,</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 26,</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>March 26,</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>June 25,</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>September 24,</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 24,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Store Count (BOP)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          152
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          169
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          176
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          201
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          206
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          208
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          210
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          212
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Opened/Acquired
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          18
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          31
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          5
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          2
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Relocated (a)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Closed Boot Barn Stores
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Closed Sheplers Stores
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (5)
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          &#8212;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Store Count (EOP)
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          169
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          176
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          201
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          206
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          208
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          210
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          212
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-style: double" valign="bottom">
          219
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          (a)
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents a store opened during the quarter ended December 24,
            2016 that replaces a store located less than a mile away whose
            lease expired and was closed in January 2017.
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td colspan="19" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Debt Covenant EBITDA Reconciliation</b>
        </td>
      </tr>
      <tr>
        <td colspan="19" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="17" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>(Thirteen Weeks Ended)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: right; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 24,</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="2" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>September 24,</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="2" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>June 25,</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>March 26,</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="top">
          <b>December 26,</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: right; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="2" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="2" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2016</b>
        </td>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3" style="border-bottom-color: black; padding-right: 0.0px; text-align: center; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Boot Barn's Net income</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,507
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          479
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          624
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,012
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          9,928
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6,719
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          313
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          266
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,029
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6,712
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,637
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,651
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,560
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,576
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,553
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Depreciation and intangible asset amortization
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          4,207
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          4,017
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          4,079
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          4,494
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          3,593
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Boot Barn's EBITDA</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>25,070</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>8,460</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>8,529</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>10,111</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>23,786</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Non-cash stock-based compensation (a)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          754
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          750
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          756
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          737
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          761
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Non-cash accrual for future award redemptions (b)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          399
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          133
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          42
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (797
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          961
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Acquisition-related integration costs (c)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,817
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,153
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Amortization of inventory fair value adjustment (d)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (47
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (228
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          (Gain)/loss on disposal of assets and contract termination costs (e)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (22
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          126
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          59
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          267
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          53
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          SEC filing costs (f)
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          317
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Boot Barn's Adjusted EBITDA</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>26,201</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>9,469</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>9,386</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>12,088</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>28,803</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Additional adjustments<sup>1</sup>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          778
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          891
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          1,345
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          959
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; padding-right: 0.0px; text-align: right; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid" valign="bottom">
          655
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Consolidated EBITDA per Loan Agreements</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>26,979</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>10,360</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>10,731</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>13,047</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <b>29,458</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <sup>1</sup>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Adjustments to Boot Barn's Adjusted EBITDA as stipulated in the
            2015 Golub Term Loan and June 2015 Wells Fargo Revolver include
            pre-opening costs, franchise and state taxes, and other
            miscellaneous adjustments.
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (a)
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents non-cash compensation expenses related to stock
            options, restricted stock awards and restricted stock units
            granted to certain of our employees and directors.
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (b)
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents the non-cash accrual for future award redemptions in
            connection with our customer loyalty program.
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (c)
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents certain store integration, remerchandising, inventory
            obsolescence and corporate consolidation costs incurred in
            connection with the integration of Sheplers, which we acquired in
            June 2015. Includes an adjustment to normalize the gross margin
            impact of sales of discontinued inventory from Sheplers, which was
            sold at a discount or written off. The adjustment assumes such
            inventory was sold at Sheplers' normalized margin rate.
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (d)
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents the amortization of purchase-accounting adjustments
            that decreased the value of inventory acquired to its fair value.
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (e)
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents (gain)/loss on disposal of assets and contract
            termination costs from store closures and unused office and
            warehouse space.
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (f)
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents professional fees and expenses incurred in connection
            with a Form S-1 Registration Statement filed in July 2015 and
            withdrawn in November 2015.
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br><b>Investors:</b><br>ICR, Inc.<br>Brendon Frey, 203-682-8216<br><u>BootBarnIR@icrinc.com</u><br>or<br><b>Media:</b><br>Boot
      Barn Holdings, Inc.<br>Jim Watkins, 949-453-4400 ext. 579<br>Vice
      President, Investor Relations<br><u>BootBarnIRMedia@bootbarn.com</u>
    </p>
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</SEC-DOCUMENT>
