• Net sales increased 6.8% to $143.1 million.
• Same store sales increased 1.8%.
• Net income was $1.1 million, or $0.04 per diluted share, compared to net income of $0.5 million, or $0.02 per diluted share, in the prior-year period.
• The Company acquired the four-store operations of Wood's Boots.

Jim Conroy, Chief Executive Officer, commented, "We are pleased with the strength exhibited by our business during the second quarter, which allowed us to exceed our sales and earnings per share expectations. Despite the temporary disruption from Hurricanes Harvey and Irma, we achieved solid sales growth, driven primarily by the performance of our retail stores. We also experienced a sequential increase in e-commerce sales trends as bootbarn.com posted another double-digit sales gain and we continued to make progress enhancing the functionality of sheplers.com. At the same time, we were able to expand merchandise margin 140 basis points through a reduction in our promotional cadence, an increase in exclusive brand penetration, and our continued commitment to full-price selling. Looking ahead, we are confident that the merchandise, omni-channel and operational initiatives we have in place, combined with our differentiated retail concept, position us well to capture additional market share and deliver increased shareholder value over the long-term."

Mr. Conroy continued, "Over the last few months, members of our Boot Barn family and the rest of the country have been tragically impacted by hurricanes, the massacre in Las Vegas and wildfires in the west. As our thoughts and prayers continue to go out to those suffering, I am thankful for our employees, customers and Americans everywhere who have come together in a spirit of unity and togetherness to help one another."

• Net sales increased 6.8% to $143.1 million from $134.0 million in the prior-year period. Net sales increased due to the sales contribution from new stores opened over the past thirteen months and the four stores acquired from Wood's Boots, a 1.8% increase in same store sales, and sales from the Country Outfitter site that was acquired in February 2017.
• Gross profit was $41.7 million, or 29.1% of net sales, compared to $36.4 million, or 27.2% of net sales, in the prior-year period. Gross profit increased primarily due to increased sales. As a percentage of sales, consolidated gross margin primarily increased as a result of a 140 basis point increase in merchandise margin rate and a 50 basis point decrease in buying and occupancy costs.
• Selling, general and administrative expense was $36.1 million, or 25.2% of net sales, compared to $32.0 million, or 23.9% of net sales, in the prior-year period. Selling, general and administrative expenses increased primarily as a result of increased sales and additional costs for both new and acquired stores. Selling, general and administrative expenses as a percentage of sales were in line with the prior year when excluding the benefit in the prior year from lower bonus expense, gain from a legal and contract settlement, and a benefit from employee compensation costs.
• Income from operations was $5.6 million, or 3.9% of net sales, compared to $4.4 million, or 3.3% of net sales, in the prior-year period.
• The Company acquired four stores from Wood's Boots and closed two Boot Barn stores, ending the quarter with 222 stores in 31 states.
• Net income was $1.1 million, or $0.04 per diluted share, compared to $0.5 million, or $0.02 per diluted share, in the prior-year period.

• Net sales increased 5.6% to $282.5 million from $267.4 million in the prior-year period. Net sales increased due to the sales contribution from new stores opened over the past thirteen months and the four stores acquired from Wood's Boots, a 1.5% increase in same store sales, and sales from the Country Outfitter site.
• Gross profit was $83.1 million, or 29.4% of net sales, compared to $77.2 million, or 28.9% of net sales, in the prior-year period. Gross profit increased primarily due to increased sales. As a percentage of sales, consolidated gross margin increased as a result of a 60 basis point increase in merchandise margin partially offset by 10 basis points of occupancy deleverage.
• Selling, general and administrative expense was $72.5 million, or 25.7% of net sales, compared to $68.3 million, or 25.5% of net sales, in the prior-year period. Selling, general and administrative expenses increased as a result of additional costs associated with the opening of new and acquired stores over the last thirteen months and incremental operational costs associated with the growth in the business. As a percentage of sales, selling, general and administrative expenses increased as a result of higher bonus expense.
• Income from operations was $10.6 million, or 3.7% of net sales, compared to $8.9 million, or 3.3% of net sales, in the prior-year period.
• The Company opened one new store, acquired four stores from Wood's Boots and closed two Boot Barn stores, ending the period with 222 stores in 31 states.
• Net income was $1.9 million, or $0.07 per diluted share, compared to $1.1 million, or $0.04 per diluted share, in the prior-year period.

• Cash of $9.4 million.
• Average inventory per store decreased approximately 1% compared to September 24, 2016.
• Total net debt of $239.8 million, including $57.1 million outstanding on revolving credit facility.

• To open 12 new stores, including the acquisition of four Wood's Boots stores in the second quarter.
• Same store sales growth of low single digits, compared to the Company's prior outlook of flat to slightly positive same store sales growth.
• Income from operations between $40.0 million and $42.5 million, compared to the Company's prior outlook of $37.8 million to $40.0 million.
• Net income of $15.4 million to $16.6 million, compared to the Company's prior outlook of $14.0 million to $15.4 million.
• Net income per diluted share of $0.57 to $0.61 based on 27.2 million weighted average diluted shares outstanding, compared to the Company's prior outlook of $0.52 to $0.57.

A conference call to discuss the financial results for the second quarter of fiscal year 2018 is scheduled for today, November 2, 2017, at 4:30 p.m. ET (1:30 p.m. PT). Investors and analysts interested in participating in the call are invited to dial (888) 203-7337. 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 "Events and Presentations" 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 December 2, 2017, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 8773428. Please note participants must enter the conference identification number in order to access the replay.

Boot Barn is the nation'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 223 stores in 31 states, in addition to an e-commerce channel www.bootbarn.com. The Company also operates www.sheplers.com, the nation's leading pure play online western and work retailer. Sheplers has been part of the western, outdoor, and work lifestyle for over 100 years. Beginning in February 2017, the Company has operated www.countryoutfitter.com, an e-commerce site selling to customers who live a country lifestyle. For more information, call 888-Boot-Barn or visit www.bootbarn.com.

The Company presents adjusted EBITDA to help the Company describe its operating and financial performance. Adjusted EBITDA is a non-GAAP financial measure and should not be construed in isolation or as an alternative to net income or cash flow statement data (as presented in the Company'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. Adjusted EBITDA, as defined by the Company, may not be comparable to similar non-GAAP financial measures presented by other companies. The Company's management believes that adjusted EBITDA provides investors with transparency and helps illustrate financial results. See the table at the end of this press release for a reconciliation of adjusted EBITDA, as well as Consolidated EBITDA as defined in the Company's loan agreements, to net income.

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 "anticipate", "estimate", "expect", "project", "plan", "intend", "believe", "may", "might", "will", "could", "should", "can have", "likely", "outlook" 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'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'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's ability to effectively execute on its growth strategy; the failure to maintain and enhance its strong brand image; inability to compete effectively; failure to maintain good relationships with its key suppliers; and inability to improve and expand its exclusive product offerings. The Company discusses the foregoing risks and other risks in greater detail under the heading "Risk factors" 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'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.