<SEC-DOCUMENT>0001157523-18-001121.txt : 20180515
<SEC-HEADER>0001157523-18-001121.hdr.sgml : 20180515
<ACCEPTANCE-DATETIME>20180515161126
ACCESSION NUMBER:		0001157523-18-001121
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180509
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180515
DATE AS OF CHANGE:		20180515

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:		18836566

	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>a51806126.htm
<DESCRIPTION>BOOT BARN HOLDINGS, INC. 8-K
<TEXT>
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    <p>

    </p>
    <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>
    </p>
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 15%">


    <p style="text-align: center">
      <font style="font-size: 18pt"><b>FORM 8-K</b></font><br><br><font style="font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><b>&#160;<font style="font-size: 12pt">Pursuant to
      Section 13 or 15(d) of the</font></b><br><font style="font-size: 12pt"><b>Securities
      Exchange Act of 1934</b></font><br><br><br><b>Date of Report (Date of
      earliest event reported): <font style="font-size: 10pt; font-family: Times New Roman">May
      9, 2018</font></b>
    </p>
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 15%">


    <p style="text-align: center">
      <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="font-size: 10pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td valign="top" style="text-align: center; white-space: nowrap; width: 34%; padding-left: 0.0px; padding-right: 0.0px">
          <b>001-36711</b>
        </td>
        <td valign="top" style="text-align: center; white-space: nowrap; width: 33%; padding-left: 0.0px; padding-right: 0.0px">
          <b>90-0776290</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of<br>incorporation or<br>organization)
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 34%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: center; width: 50%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>15345 Barranca Parkway, Irvine, California</b>
          </p>
        </td>
        <td valign="top" style="text-align: center; white-space: nowrap; width: 50%; padding-left: 0.0px; padding-right: 0.0px">
          <b>92618</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; width: 50%; padding-left: 0.0px">
          (Address of principal executive offices)
        </td>
        <td valign="top" style="text-align: center; width: 50%; padding-left: 0.0px">
          (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 style="text-indent: 30.0px; font-size: 10pt">
      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 style="text-indent: 30.0px; font-size: 10pt">
      <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 style="text-indent: 30.0px; font-size: 10pt">
      <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 style="text-indent: 30.0px; font-size: 10pt">
      <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 style="text-indent: 30.0px; font-size: 10pt">
      <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>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule&#160;12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8864;</font><font style="font-size: 10pt">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>Emerging
      growth company
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8864;</font><font style="font-size: 10pt">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>If
      an emerging growth company, indicate by check mark if the registrant has
      elected not to use the extended transition period for complying with any
      new or revised financial accounting standards provided pursuant to
      section 13(a)&#160;of the Exchange Act.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <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>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; width: 10%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 2.02</b>
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 90%; padding-left: 5.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Results of Operations and Financial Condition.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 30.0px; text-align: justify">
      On May 15, 2018, Boot Barn Holdings, Inc. (the &#8220;Company&#8221;) issued a press
      release announcing certain financial results for its fiscal year ended
      March 31, 2018.&#160;&#160;The press release is attached hereto as Exhibit 99.1.
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      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>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; width: 10%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 5.02</b>
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 90%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Departure of Directors or Certain Officers; Election of
            Directors; Appointment of Certain Officers; Compensatory
            Arrangement of Certain Officers.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 30.0px">
      (b)&#160;&#160;On May 9, 2018, J. Frederick Simmons resigned from the Board of
      Directors (the &#8220;Board&#8221;) of the &#8220;Company&#8221;. The resignation of Mr. Simmons
      was not the result of any disagreement with the Company on any matter
      relating to its operations, policies or practices.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      (d)&#160;&#160;On May 9, 2018, the Board appointed Anne MacDonald to fill the
      vacancy created by the resignation of Mr. Simmons.&#160;&#160;Ms. MacDonald is an
      experienced branding and marketing executive with over 30 years of
      experience and has served as Chief Marketing Officer for several global
      companies, including Macy&#8217;s, Citigroup and Travelers Insurance.&#160;&#160;Ms.
      MacDonald also has advised brands such as Procter &amp; Gamble, AT&amp;T and
      Pizza Hut.
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      Ms. MacDonald will receive the same compensation that is provided from
      time to time to Company directors who are not employees and who are not
      affiliated with Freeman Spogli &amp; Co.&#160;&#160;In connection with her appointment
      to the Board, the Company and Ms. MacDonald entered into a customary
      indemnification agreement in the same form provided to other directors
      of the Company.&#160;&#160;
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; width: 10%; padding-left: 0.0px">
          <p style="text-align: justify">
            <b>Item 9.01</b>
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 90%; padding-left: 5.0px">
          <p style="text-align: justify">
            <b>Financial Statements and Exhibits.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; width: 11%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51806126ex99_1.htm">Exhibit 99.1</a>
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 89%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51806126ex99_1.htm">Press release dated May 15, 2018.</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

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

    </p>
<div style="text-align:left">
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        <td style="width: 5%">

        </td>
        <td style="width: 56%">

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

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

        </td>
        <td style="width: 56%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 26%">

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

        </td>
        <td style="width: 56%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 26%">

        </td>
        <td valign="top" style="text-align: left; width: 10%; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; width: 5%; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 56%; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            May 15, 2018
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 3%; padding-left: 0.0px; padding-bottom: 2.0px">
          By:
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; width: 26%; padding-left: 15.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Gregory V. Hackman
          </p>
        </td>
        <td style="width: 10%">

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

        </td>
        <td style="width: 56%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          Name: Gregory V. Hackman
        </td>
        <td style="width: 10%">

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

        </td>
        <td style="width: 56%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          Title: Chief Financial Officer
        </td>
        <td style="width: 10%">

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

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51806126ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Boot Barn
      Holdings, Inc. Announces Fourth Quarter and Fiscal Year 2018 Financial
      Results</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Fourth
      Quarter and Fiscal Year 2018 Results Exceed Guidance</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Appointment
      of Anne MacDonald to Board of Directors</b></font>
    </p>
    <p>
      IRVINE, Calif.--(BUSINESS WIRE)--May 15, 2018--Boot Barn Holdings, Inc.
      (NYSE: BOOT) today announced its financial results for the fourth
      quarter and fiscal year ended March 31, 2018.
    </p>
    <p>
      For the 13-week fourth quarter ended March 31, 2018:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Net sales increased to $170.8 million, driven by a 12.1% increase in
        same store sales, with double-digit same store sales growth in both
        retail stores and online. This compares to $163.0 million in the
        prior-year period, which was a 14-week quarter.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $6.9 million, or $0.24 per diluted share, compared to
        net income of $2.6 million, or $0.10 per diluted share (and compared
        to adjusted net income of $3.3 million, or $0.12 per diluted share) in
        the prior-year period, which was a 14-week quarter.
      </li>
    </ul>
    <p>
      For the 52-week fiscal year ended March 31, 2018:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Net sales increased 7.6% to $677.9 million, compared to $629.8 million
        in the prior year, which was a 53-week year.
      </li>
      <li style="margin-bottom: 10.0px">
        Same store sales increased 5.2%.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $28.9 million, or $1.05 per diluted share, compared to
        net income of $14.2 million, or $0.53 per diluted share (and compared
        to adjusted net income of $14.9 million, or $0.55 per diluted share)
        in the prior-year, which was a 53-week year.
      </li>
      <li style="margin-bottom: 10.0px">
        Added 9 stores through new openings and acquisitions and closed two
        underperforming stores, bringing the total count at fiscal year-end to
        226 stores.
      </li>
    </ul>
    <p>
      Note: Adjusted net income is a non-GAAP measure. An explanation of the
      computation of this measure and a reconciliation to GAAP net income is
      included below. See also &quot;Non-GAAP Financial Measures.&quot;
    </p>
    <p>
      The Company announced that Anne MacDonald, an experienced branding and
      marketing executive, has been appointed to its Board of Directors. Ms.
      MacDonald will replace Fred Simmons, who has resigned from the Board.
    </p>
    <p>
      Over the course of her career, Ms. MacDonald has served as Chief
      Marketing Officer for several global companies including Macy&#8217;s,
      Citigroup, and Travelers Insurance. In addition to her executive
      experience, Ms. MacDonald has had extensive agency experience advising
      iconic brands including, Procter &amp; Gamble, AT&amp;T and Pizza Hut. Presently
      she works as a strategic advisor to several clients through her own firm.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt">
      <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>
      Jim Conroy, Chief Executive Officer, commented, &#8220;We are very pleased
      with the top-line momentum our business experienced across most of the
      country both in store and online during the fourth quarter. Our
      investments in merchandising, marketing and omni-channel fueled
      double-digit gains in retail comparable sales and helped return our
      e-commerce business to double-digit growth as well. Importantly, we held
      true to our full-price selling model, which combined with a meaningful
      increase in our exclusive brand penetration, yielded a 90 basis point
      improvement in merchandise margin. Our strong sales and margin
      performance enabled us to exceed our earnings guidance for the quarter
      and further solidify our industry leading position.&#8221;
    </p>
    <p>
      Mr. Conroy continued, &#8220;I am equally excited about the business in April
      and May as our double-digit same store sales growth has continued. We
      are looking forward to fiscal 2019 and the opportunities we have to
      drive profitable growth, re-accelerate store expansion, build out our
      multi-brand e-commerce strategy, and further develop our exclusive
      brands.&#8221;
    </p>
    <p>
      Regarding the change in the Board of Directors, Jim Conroy commented, &#8220;I
      am excited to welcome Anne MacDonald to the Board of Directors. She
      brings a world-class marketing background that will enhance our ability
      to develop both the Boot Barn brand and each of our exclusive brands.
      Anne&#8217;s combination of company and agency experience will further enhance
      the composition of our Board as we continue to grow the Boot Barn
      business across the country. I also want to take this opportunity to
      thank Fred Simmons for his contributions since December 2011. Fred&#8217;s
      guidance and strategic counsel have helped lead the growth of Boot Barn
      into a national lifestyle brand with revenue growing 300% during his
      tenure. On a personal note, Fred has been inspiring, motivational and
      uplifting to me and the entire management team.&#8221;
    </p>
    <p>
      <b>Operating Results for the Fourth Quarter Ended March 31, 2018</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Net sales increased to $170.8 million in the fourth quarter of fiscal
        year 2018 (13 weeks), from $163.0 million in the fourth quarter of
        fiscal year 2017 (14 weeks). Net sales increased due to a 12.1%
        increase in same store sales, the sales contribution from 9 stores
        added over the past twelve months, and sales from the Country
        Outfitter site that was acquired in February 2017. Sales growth was
        partially offset by sales from the 14th week in the prior-year period.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross profit was $52.9 million, or 31.0% of net sales, in the fourth
        quarter of fiscal year 2018, compared to gross profit of $49.3
        million, or 30.3% of net sales, in the prior-year period. Gross profit
        increased primarily due to increased sales and an increase in
        merchandise margin rate. Gross profit rate increased primarily as a
        result of a 90 basis point increase in merchandise margin rate
        partially offset by a 20 basis point increase in buying and occupancy
        costs. The higher merchandise margin rate was driven by more
        full-price selling, fewer promotions, and increased exclusive brand
        penetration. The increase in buying and occupancy costs as a
        percentage of sales resulted from fixed costs deleveraging in a
        13-week quarter in the current year compared to a 14-week quarter in
        the prior-year period.
      </li>
      <li style="margin-bottom: 10.0px">
        Selling, general and administrative expense was $41.6 million, or
        24.4% of net sales, in the fourth quarter of fiscal year 2018 compared
        to $41.3 million, or 25.3% of net sales, in the prior-year period.
        Excluding $1.2 million of store impairment charges in the prior-year
        period, adjusted selling, general and administrative expense was $40.1
        million, or 24.6% of net sales. Selling, general and administrative
        expenses increased primarily as a result of increased sales,
        compensation expense and additional costs for both new and acquired
        stores. Selling, general and administrative expenses as a percentage
        of sales decreased as a result of expense leverage on higher sales.
      </li>
      <li style="margin-bottom: 10.0px">
        Income from operations increased 39.9%, to $11.3 million, or 6.6% of
        net sales, in the fourth quarter of fiscal year 2018 (13 weeks),
        compared to $8.1 million, or 4.9% of net sales, in the prior-year
        period (14 weeks). Excluding the impact of the store impairment
        charges in the prior-year period, adjusted income from operations was
        $9.2 million, or 5.7% of net sales, in the fourth quarter of fiscal
        year 2017.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $6.9 million, or $0.24 per diluted share, in the fourth
        quarter of fiscal year 2018 (13 weeks), compared to $2.6 million, or
        $0.10 per diluted share, in the prior-year period (14 weeks).
        Excluding the impact of the store impairment charges, adjusted net
        income was $3.3 million, or $0.12 per diluted share, in the fourth
        quarter of fiscal year 2017, which was a 14-week quarter. Net income
        per diluted share in the fourth quarter of fiscal 2018 includes
        approximately $0.06 per share of tax benefit related to stock option
        exercises and $0.02 per share related to improved tax rate, partially
        offset by $0.01 per share of secondary offering costs.
      </li>
    </ul>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <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 selling, general and administrative
      expense, 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. See &quot;Non-GAAP Financial
      Measures.&quot;
    </p>
    <p>
      <b>Operating Results for the Fiscal Year Ended March 31, 2018</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Net sales for fiscal year 2018 (52 weeks) increased to $677.9 million
        from $629.8 million in fiscal year 2017 (53 weeks). Net sales
        increased due to a 5.2% increase in same store sales, the sales
        contribution from 9 stores added over the past twelve months and sales
        from the Country Outfitter site that was acquired in February 2017.
        Sales growth was partially offset by sales from the 53<sup>rd</sup>
        week in the prior-year.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross profit for fiscal year 2018 was $207.9 million, or 30.7% of net
        sales, compared to gross profit of $189.9 million, or 30.1% of net
        sales, in fiscal year 2017. Gross profit increased primarily due to
        increased sales. Gross profit rate increased as a result of a 50 basis
        point increase in merchandise margin rate.
      </li>
      <li style="margin-bottom: 10.0px">
        Selling, general and administrative expense for fiscal year 2018 was
        $161.7 million, or 23.8% of net sales, compared to $152.1 million, or
        24.1% of net sales, in fiscal year 2017. Adjusted selling, general and
        administrative expense in fiscal year 2017 was $150.9 million, or
        24.0% of net sales. Selling, general and administrative expenses
        increased as a result of additional costs associated with the opening
        of new and acquired stores over the last twelve months, compensation
        expense and incremental operating costs associated with the growth in
        the business. Selling, general and administrative expenses as a
        percentage of sales decreased as a result of expense leverage on
        higher sales.
      </li>
      <li style="margin-bottom: 10.0px">
        Income from operations for fiscal year 2018 (52 weeks) increased
        22.3%, to $46.3 million, or 6.8% of net sales, compared to $37.8
        million, or 6.0% of net sales, in fiscal year 2017 (53 weeks).
        Adjusted income from operations in fiscal year 2017 was $39.0 million,
        or 6.2% of net sales.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income for fiscal year 2018 (52 weeks) was $28.9 million, or $1.05
        per diluted share, compared to $14.2 million, or $0.53 per diluted
        share, in fiscal year 2017 (53 weeks). Adjusted net income in fiscal
        year 2017 was $14.9 million, or $0.55 per diluted share. Net income
        per diluted share in fiscal year 2018 includes approximately $0.25 per
        share of tax benefit from the revaluation of deferred tax liabilities,
        approximately $0.06 related to stock option exercises and $0.04
        related to improved tax rate from tax reform.
      </li>
      <li style="margin-bottom: 10.0px">
        The Company added 9 stores through new openings and acquisitions and
        closed two underperforming stores, bringing the total count at
        year-end to 226 stores.
      </li>
    </ul>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <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 selling, general and administrative
      expense, 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. See also &quot;Non-GAAP
      Financial Measures.&quot;
    </p>
    <p>
      <b>Balance Sheet Highlights as of March 31, 2018</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Cash of $9.0 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Average inventory per store increased 4.4% on a comp store basis
        compared to April 1, 2017.
      </li>
      <li style="margin-bottom: 10.0px">
        Total net debt of $204.2 million, including $21.0 million drawn under
        the revolving credit facility.
      </li>
    </ul>
    <p>
      <b>Fiscal Year 2019 Outlook</b>
    </p>
    <p>
      For the fiscal year ending March 30, 2019 the Company expects:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        To open 23 new stores.
      </li>
      <li style="margin-bottom: 10.0px">
        Same store sales growth of mid-single digits.
      </li>
      <li style="margin-bottom: 10.0px">
        Income from operations between $52.5 million and $56.5 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Interest expense of $17.0 million to $18.0 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income of $26.2 million to $29.2 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income per diluted share of $0.92 to $1.02 based on 28.7 million
        weighted average diluted shares outstanding.
      </li>
    </ul>
    <p>
      For the fiscal first quarter ending June 30, 2018 the Company expects:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Same store sales growth of approximately 10%.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income per diluted share of $0.10 to $0.12 based on 28.5 million
        weighted average diluted shares outstanding.
      </li>
    </ul>
    <p>
      <b>Conference Call Information</b>
    </p>
    <p>
      A conference call to discuss the financial results for the fourth
      quarter of fiscal year 2018 is scheduled for today, May 15, 2018, at
      4:30 p.m. ET (1:30 p.m. PT). Investors and analysts interested in
      participating in the call are invited to dial (800) 289-0438. 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 June 15, 2018, by
      dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and
      entering the conference identification number: 2347094. Please note
      participants must enter the conference identification number in order to
      access the replay.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <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 230 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 and <u>www.countryoutfitter.com</u>,
      an e-commerce site selling to customers who live a country lifestyle.
      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 selling, general and administrative
      expense, 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 selling, general and administrative expense,
      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 selling, general and administrative expense
      to selling, general and administrative expense, 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.
    </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 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="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <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="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Boot Barn Holdings, Inc.</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Consolidated Balance Sheets</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (In thousands, except per share data)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>March 31,</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>April 1,</b>
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <b>2018</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Assets</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          9,016
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          8,035
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,389
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,354
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          211,472
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          189,096
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          16,250
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          22,818
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Total current assets
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          241,127
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          224,303
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          89,208
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          82,711
        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          63,383
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          64,511
        </td>
        <td>

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

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,128
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          961
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; padding-bottom: 4.0px">
          Total assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          587,941
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          565,581
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Liabilities and stockholders&#8217; equity</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          21,006
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          33,274
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          89,958
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          77,482
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Accrued expenses and other current liabilities
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          40,034
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          35,983
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Current portion of notes payable, net
        </td>
        <td>

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

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,062
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Total current liabilities
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          150,998
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          147,801
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          13,030
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          20,961
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Long-term portion of notes payable, net
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          183,200
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          191,517
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          7,303
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          7,825
        </td>
        <td>

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

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          18,804
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          17,568
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; padding-bottom: 2.0px">
          Total liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          373,335
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          385,672
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#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 valign="top" style="text-align: left; padding-left: 0.0px">
          Stockholders&#8217; equity:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </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 valign="top" style="text-align: left; padding-left: 0.0px">
          Common stock, $0.0001 par value; March 31, 2018 - 100,000 shares
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          authorized, 27,331 shares issued; April 1, 2017 - 100,000 shares
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 5.0px">
          authorized, 26,575 shares issued
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

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

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

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

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

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

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

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

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Additional paid-in capital
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          148,127
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          142,184
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          66,670
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          37,791
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Less: Common stock held in treasury, at cost, 31 and 14 shares at
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 5.0px; padding-bottom: 2.0px">
          March 31, 2018 and April 1, 2017, respectively
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (194
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (69
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Total stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          214,606
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          179,909
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Total liabilities and stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          587,941
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          565,581
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <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="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Boot Barn Holdings, Inc.</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Consolidated Statements of Operations</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (In thousands, except per share data)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

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

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Thirteen</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Fourteen</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Fifty-Two</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Fifty-Three</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px; padding-bottom: 2.0px">

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

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>Weeks Ended</b>
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>Weeks Ended</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>Weeks Ended</b>
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>Weeks Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>March 31,</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2018</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>April 1,</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2017</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>March 31,</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2018</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>April 1,</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2017</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          170,766
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          163,003
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          677,949
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          629,816
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Cost of goods sold
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          117,870
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          113,675
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          470,034
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          439,930
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          52,896
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          49,328
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          207,915
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          189,886
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Selling, general and administrative expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          41,614
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          41,265
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          161,660
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          152,068
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Income from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          11,282
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          8,063
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          46,255
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          37,818
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Interest expense, net
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,808
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,851
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,076
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          14,699
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          7,474
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,212
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          31,179
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          23,119
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Income tax expense
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          619
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,624
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,300
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          8,922
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px; padding-bottom: 4.0px">
          Net income
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          6,855
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,588
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          28,879
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          14,197
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Basic shares
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.25
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.10
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1.08
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.54
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Diluted shares
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.24
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.10
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1.05
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.53
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Weighted average shares outstanding:
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Basic shares
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          27,134
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          26,535
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          26,744
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          26,459
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Diluted shares
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          28,245
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          27,068
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          27,528
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          26,939
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <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="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Boot Barn Holdings, Inc.</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Consolidated Statements of Cash Flows</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (In thousands)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="11">

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

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="11">
          <b>Fiscal Year Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>March 31,</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>April 1,</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>March 26,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <b>2018</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <b>2017</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          28,879
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          14,197
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          9,868
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Depreciation
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          16,000
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          14,555
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          11,480
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Stock-based compensation
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,248
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,023
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,881
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Excess tax benefit
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (3,621
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Amortization of intangible assets
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,128
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,155
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,536
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Amortization and write-off of debt issuance fees and debt discount
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,199
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,145
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,274
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Loss on disposal of property and equipment
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          252
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          367
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          463
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Hurricane-related asset write-off
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,357
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Store impairment charge
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          83
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,164
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Accretion of above market leases
        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (36
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (72
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Deferred taxes
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,860
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          6,175
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          981
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Amortization of inventory fair value adjustment
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (500
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Changes in operating assets and liabilities, net of acquisitions:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Accounts receivable, net
        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (223
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,524
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Inventories
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (24,598
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (12,761
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (16,087
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Prepaid expenses and other current assets
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (3,281
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (3,805
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          7,543
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Other assets
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (167
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (2,713
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Accounts payable
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          13,062
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          10,501
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          6,835
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Accrued expenses and other current liabilities
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,977
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (483
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          5,068
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; padding-bottom: 2.0px">
          Other liabilities
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,238
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          5,172
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,469
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 30.0px; padding-bottom: 2.0px">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          44,200
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          41,151
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          32,929
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Cash flows from investing activities</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (24,418
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (22,293
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (36,127
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Hurricane-related insurance recoveries for property and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          865
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Acquisition of business or assets, net of cash acquired
        </td>
        <td>

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

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (1,305
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (146,541
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 30.0px; padding-bottom: 2.0px">
          Net cash used in investing activities
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (23,553
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (23,598
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (182,668
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Cash flows from financing activities</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (12,268
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (15,541
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          32,615
        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (10,448
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (2,378
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (77,899
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Debt issuance fees
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (520
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (125
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (69
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,621
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,695
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,275
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,698
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 30.0px; padding-bottom: 2.0px">
          Net cash (used in)/provided by financing activities
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (19,666
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (16,713
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          155,486
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          981
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          840
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          5,747
        </td>
        <td>

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

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          8,035
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          9,016
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          8,035
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          7,195
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          614
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,192
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,296
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          13,743
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          13,646
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          10,333
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,315
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,421
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,992
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Equipment acquired through capital lease
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          38
        </td>
        <td>

        </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>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <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="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="15">
          <b>Boot Barn Holdings, Inc.</b>
        </td>
      </tr>
      <tr>
        <td colspan="15">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="15">
          <b>Supplemental Information - Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="15">
          <b>Reconciliation of GAAP to Non-GAAP Financial Measures</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="15">
          <b>(In thousands, except per share amounts)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="15">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="15">
          <p style="margin-top: 0px; margin-bottom: 0px">
            The tables below reconcile the non-GAAP financial measures of
            adjusted selling, general and administrative expense, adjusted
            income from operations, adjusted net income, and adjusted net
            income per diluted share, to the most directly comparable GAAP
            financial measures of selling, general and administrative expense,
            income from operations, net income, and net income per diluted
            share.
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Thirteen</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>Fourteen</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Fifty-Two</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>Fifty-Three</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px; padding-bottom: 2.0px">

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

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>Weeks Ended</b>
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="3">
          <b>Weeks Ended</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="2">
          <b>Weeks Ended</b>
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="3">
          <b>Weeks Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>April 1,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>April 1,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>2018</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <b>2017</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>2018</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Reconciliation of GAAP selling, general and administrative
          expense to adjusted selling, general and administrative expense</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          41,614
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          41,265
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          161,660
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          152,068
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Store impairment charge (a)
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,164
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,164
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Adjusted selling, general and administrative expense
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          41,614
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          40,101
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          161,660
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          150,904
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          11,282
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          8,063
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          46,255
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          37,818
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Store impairment charge (a)
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,164
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,164
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Adjusted income from operations
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          11,282
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          9,227
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          46,255
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          38,982
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          6,855
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,588
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          28,879
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          14,197
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Store impairment charge (a)
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,164
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,164
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,624
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          8,922
        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (2,073
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (9,371
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Adjusted net income
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          6,855
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,303
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          28,879
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          14,912
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.24
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.10
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1.05
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.53
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Adjustments for store impairment charge and related tax impact
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.02
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.02
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Adjusted net income per diluted share
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.24
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.12
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1.05
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: left; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.55
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          28,245
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          27,068
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          27,528
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          26,939
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          (a)
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Represents the store impairment charge recorded at three stores in
          order to reduce the carrying amount of the assets to their estimated
          fair values.
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          (b)
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          The provision for income taxes uses an effective tax rate of 38.6%
          for both the fourteen-week and fifty-three week period ended April
          1, 2017, and applies it to the non-GAAP income before taxes.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <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="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="15">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Boot Barn Holdings, Inc.</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Store Count</b>
          </p>
        </td>
      </tr>
      <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>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

        </td>
        <td>

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

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

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>April 1,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>July 1,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>September 30,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>December 30,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Store Count (BOP)
        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          219
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          220
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          222
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          226
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Opened/Acquired
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          47
        </td>
        <td>

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

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

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

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

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

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

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

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#8212;
          </p>
        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (6)
        </td>
        <td>

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

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

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

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

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

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

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

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          219
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          220
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          222
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          226
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: double; text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          226
        </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>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="19">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Adjusted EBITDA Reconciliation</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (In thousands)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="13">

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="13">
          <b>Thirteen Weeks Ended</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px" colspan="3">
          <b>Fourteen Weeks Ended</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

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

        </td>
        <td valign="top" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>&#160;&#160;&#160;&#160;March 31,&#160;&#160;&#160;&#160;</b>
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>December 30,</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>September 30,</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>&#160;&#160;&#160;&#160;July 1,&#160;&#160;&#160;&#160;</b>
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <b>April 1,</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px; padding-bottom: 2.0px">

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

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <b>2018</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>2017</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <b>2017</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>2017</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="3">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Boot Barn's Net income</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          6,855
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          20,149
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,098
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          777
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,588
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          619
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          425
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          751
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          506
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,624
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,808
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,821
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,789
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,658
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,851
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,610
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,263
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,142
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,113
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,407
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Boot Barn's EBITDA</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>15,892</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>28,658</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>9,780</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>9,054</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>12,470</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Non-cash stock-based compensation (a)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          398
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          597
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          678
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          575
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          763
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Non-cash accrual for future award redemptions (b)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (120
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          47
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (489
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Loss on disposal of assets (c)
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          47
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          14
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          204
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Store impairment charge (d)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          83
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,164
        </td>
        <td>

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

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          294
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

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

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

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

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

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>16,726</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>29,314</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>10,343</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>9,648</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>14,112</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Additional adjustments (f)
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          546
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          862
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          418
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          628
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          156
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Consolidated EBITDA per Loan Agreements</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>17,272</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>30,176</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>10,761</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>10,276</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>14,268</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            _________________________________
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (a)
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <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 valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (b)
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <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 valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (c)
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents loss on disposal of assets from store closures.
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (d)
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents store impairment charges recorded in order to reduce
            the carrying amount of the assets to their estimated fair values.
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (e)
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Represents professional fees and expenses incurred in connection
            with the January 2018 secondary offering.
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (f)
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Adjustments to Boot Barn's Adjusted EBITDA as provided 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>
    </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, 949-453-4428<br>Vice President,
      Investor Relations<br><u>BootBarnIRMedia@bootbarn.com</u>
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
