Exhibit 99.1

Boot Barn Holdings, Inc. Announces Fourth Quarter Fiscal Year 2020 Financial Results

IRVINE, Calif.--(BUSINESS WIRE)--May 20, 2020--Boot Barn Holdings, Inc. (NYSE: BOOT) today announced its financial results for the fourth fiscal quarter and fiscal year ended March 28, 2020.

For the quarter ended March 28, 2020:

  • Net sales decreased 2.1% to $188.6 million.
  • Same store sales decreased 4.7%, comprised of a decrease in retail store same store sales of 7.1% and an increase in e-commerce sales of 7.5%.
  • Net sales and same store sales growth were solid during the first 10 weeks of the quarter before declining significantly during the last three weeks as a result of the COVID-19 crisis.
  • Net income was $5.7 million, or $0.20 per diluted share, compared to $8.7 million, or $0.30 per diluted share in the prior-year period. Net income per diluted share in the current-year period includes a $0.01 per share benefit due to income tax accounting for share-based compensation and a $0.01 per share benefit from the realization of a state tax operating loss. Net income per diluted share in the prior-year period includes $0.02 per share of tax expense related to a return to provision adjustment. Excluding the tax adjustments in both periods, net income per diluted share was $0.18, compared to $0.32 in the prior-year period.
  • The company opened 8 new stores during the quarter.

For the fiscal year ended March 28, 2020:

  • Net sales increased 8.8% to $845.6 million.
  • Same store sales increased 5.0%, comprised of an increase in retail store same store sales of 4.5% and an increase in e-commerce sales of 7.4%.
  • Net income was $47.9 million, or $1.64 per diluted share, compared to $39.0 million, or $1.35 per diluted share in the prior-year period. Net income per diluted share in the current-year period includes a $0.07 per share benefit due to income tax accounting for share-based compensation and a $0.01 per share benefit from the realization of a state tax operating loss. Net income per diluted share in the prior-year period includes a $0.13 per share benefit due to income tax accounting for share-based compensation and $0.02 per share of tax expense related to a return to provision adjustment. Excluding the tax adjustments in both periods, net income per diluted share was $1.56, compared to $1.24 in the prior-year period.
  • The company added 20 stores during the year, including 19 new stores and 1 acquired store.

The following information was filed by Boot Barn Holdings, Inc. (BOOT) on Wednesday, May 20, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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