Consolidated Balance Sheets (Parenthetical) - $ / shares |
Mar. 29, 2025 |
Mar. 30, 2024 |
|---|---|---|
| Consolidated Balance Sheets | ||
| Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
| Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
| Common stock, shares issued (in shares) | 30,892,000 | 30,572,000 |
| Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
| Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
| Preferred stock, shares issued (in shares) | 0 | 0 |
| Preferred stock, shares outstanding (in shares) | 0 | 0 |
| Common stock, shares held in treasury (in shares) | 298,000 | 228,000 |
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
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| Consolidated Statements of Operations | |||
| Net sales | $ 1,911,104 | $ 1,667,009 | $ 1,657,615 |
| Type of Revenue | us-gaap:ProductMember | us-gaap:ProductMember | us-gaap:ProductMember |
| Cost of goods sold | $ 1,194,066 | $ 1,052,585 | $ 1,047,043 |
| Type of Cost of Service | us-gaap:ProductMember | us-gaap:ProductMember | us-gaap:ProductMember |
| Gross profit | $ 717,038 | $ 614,424 | $ 610,572 |
| Selling, general and administrative expenses | 477,686 | 416,210 | 378,785 |
| Income from operations | 239,352 | 198,214 | 231,787 |
| Interest expense | 1,497 | 2,238 | 5,880 |
| Other income/(loss) net | 2,262 | 1,396 | (29) |
| Income before income taxes | 240,117 | 197,372 | 225,878 |
| Income tax expense | 59,175 | 50,376 | 55,325 |
| Net income | $ 180,942 | $ 146,996 | $ 170,553 |
| Earnings per share: | |||
| Basic (in dollars per share) | $ 5.93 | $ 4.87 | $ 5.72 |
| Diluted (in dollars per share) | $ 5.88 | $ 4.8 | $ 5.62 |
| Weighted average shares outstanding: | |||
| Basic (in shares) | 30,524 | 30,167 | 29,805 |
| Diluted (in shares) | 30,773 | 30,611 | 30,370 |
Business Operations |
12 Months Ended |
|---|---|
Mar. 29, 2025 | |
| Business Operations | |
| Business Operations | 1. Business Operations Boot Barn Holdings, Inc. (the “Company”), the parent holding company of the group of operating subsidiaries that conduct the Boot Barn business, was formed on November 17, 2011, and is incorporated in the State of Delaware. The equity of the Company consists of 100,000,000 authorized shares and 30,594,094 and 30,343,690 outstanding shares of common stock as of March 29, 2025 and March 30, 2024, respectively. The shares of common stock have voting rights of one vote per share. The Company operates specialty retail stores that sell western and work boots and related apparel and accessories. The Company operates retail locations throughout the U.S. and sells its merchandise via the Internet. The Company operated a total of 459 stores in 49 states as of March 29, 2025, 400 stores in 45 states as of March 30, 2024 and 345 stores in 43 states as of April 1, 2023. As of the fiscal year ending March 29, 2025, all stores operate under the Boot Barn name. Basis of Presentation The Company’s consolidated financial statements, prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), include the accounts of the Company and each of its subsidiaries, including Boot Barn Holdings, Inc., Boot Barn, Inc., RCC Western Stores, Inc. (“RCC”), Baskins Acquisition Holdings, LLC (“Baskins”), Sheplers, LLC and Sheplers Holding, LLC (collectively with Sheplers, LLC, “Sheplers”). All intercompany accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation. The vast majority of the Company’s identifiable assets are in the United States. Fiscal Year The Company reports its results of operations and cash flows on a 52- or 53-week basis, and its fiscal year ends on the last Saturday of March unless April 1st is a Saturday, in which case the fiscal year ends on April 1st. The fiscal years ended March 29, 2025 (“fiscal 2025”) and March 30, 2024 (“fiscal 2024”) each consisted of 52 weeks, and the fiscal year ended April 1, 2023 (“fiscal 2023”) was a 53-week period. |
Summary of Significant Accounting Policies |
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| Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Comprehensive Income The Company does not have any components of other comprehensive income recorded within its consolidated financial statements and, therefore, does not separately present a statement of comprehensive income in its consolidated financial statements. Segment Reporting GAAP has established guidance for reporting information about a company’s operating segments, including disclosures related to a company’s products and services, geographic areas and major customers. The Company monitors and reviews its segment reporting structure in accordance with authoritative guidance to determine whether any changes have occurred that would impact its reportable segments. The Company’s chief operating decision maker (“CODM”) is its Interim Chief Executive Officer, who was appointed as of November 2024. The CODM regularly reviews operations and financial performance at a consolidated level, based on a single operating segment. The Company operates as one operating and one reportable segment. Further, the Company’s operations represent one reporting unit for the purpose of its goodwill impairment analysis. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Among the significant estimates affecting the Company’s consolidated financial statements are those relating to revenue recognition, lease accounting, inventories, goodwill, intangible and long-lived assets, stock-based compensation and income taxes. Management regularly evaluates its estimates and assumptions based upon historical experience and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. To the extent actual results differ from those estimates, the Company’s future results of operations may be affected. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents also include receivables from credit card sales. The carrying amounts of cash and cash equivalents represent their fair values. Accounts Receivable The Company’s accounts receivable consist of amounts due from commercial customers for merchandise sold, as well as receivables from suppliers under co-operative arrangements. The Company’s allowance for credit losses was $0.6 million as of both March 29, 2025 and March 30, 2024. Inventories Inventories consist primarily of purchased merchandise and are valued at the lower of cost or net realizable value. Cost is determined using the weighted-average cost method and includes the cost of merchandise and import related costs, including freight, duty and agent commissions. The Company assesses the recoverability of inventory through a periodic review of historical usage and present demand. When the inventory on hand exceeds the foreseeable demand, the value of inventory that, at the time of the review, is not expected to be sold is written down to its estimated net realizable value. Debt Issuance Costs and Debt Discounts Debt issuance costs are capitalized and amortized to interest expense over the terms of the applicable loan agreements using the effective interest method. Those costs related to the issuance of debt are presented as a reduction to the principal amount of the debt. Debt issuance costs incurred with the issuance of revolving credit lines are included in prepaid expenses and other current assets. Debt discounts arise when transaction fees are paid to the lending institution. Debt discounts are recorded as a reduction to the principal amount of the debt. Amortization of debt discounts is recorded as an increase to the net principal amount of the debt and as a charge to interest expense over the term of the applicable loan agreement using the effective interest method. Property and Equipment, net Property and equipment consists of leasehold improvements, machinery and equipment, furniture and fixtures, software, and vehicles. Property and equipment is subject to depreciation and is recorded at cost less accumulated depreciation. Expenditures for major remodels and improvements are capitalized while minor replacements, maintenance, and repairs that do not improve or extend the life of such assets are charged to expense. Gains or losses on disposal of fixed assets, when applicable, are reflected in operations. Depreciation is computed using the straight-line method over the estimated useful lives, ranging from to ten years. The Company’s property and equipment are depreciated using the following estimated useful lives:
Goodwill and Indefinite-Lived Intangible Assets Goodwill is recorded as the difference between the aggregate consideration paid for an acquisition and the fair value of the acquired net tangible and intangible assets. Goodwill is tested for impairment at least annually as of the first day of the fourth fiscal quarter or more frequently if indicators of impairment exist, in accordance with the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 350, Goodwill and Other. This guidance provides the option to first assess qualitative factors such as macroeconomic conditions, industry and market considerations, cost factors, overall financial performance and other relevant entity-specific events to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. GAAP has established guidance for reporting information about a company’s operating segments, including disclosures related to a company’s products and services, geographic areas and major customers. The Company monitors and reviews its segment reporting structure in accordance with authoritative guidance to determine whether any changes have occurred that would impact its reportable segments, as well as the Company’s reporting units. The Company’s operations represent one reporting unit for the purpose of its goodwill impairment analysis. If, based on a review of qualitative factors it is more likely than not that the fair value of a reporting unit is less than its carrying value, we proceed to compare the fair value of the reporting unit with its carrying amount. We evaluate the fair value of the reporting unit by using market-based analysis to review market capitalization and by reviewing a discounted cash flow analysis using management’s assumptions. We determine the fair value of our reporting unit using the income approach and market approach to valuation, as well as other generally accepted valuation methodologies. If the carrying amount of the reporting unit exceeds the reporting unit’s fair value, we recognize an impairment loss equal to the difference between the carrying amount and the estimated fair value of the reporting unit. The Company concluded that there was no impairment of goodwill during fiscal 2025, fiscal 2024, or fiscal 2023. Intangible assets with indefinite lives, which include the Boot Barn, Sheplers and Country Outfitter trademarks, are not amortized but instead are measured for impairment at least annually, or when events indicate that impairment may exist. The Company calculates impairment as the excess of the carrying value of indefinite-lived intangible assets over their estimated fair value. If the carrying value exceeds the estimate of fair value, an impairment charge is recorded. The Company concluded there was no impairment of intangible assets with indefinite lives during fiscal 2025 or fiscal 2023. During fiscal , the Company recognized an impairment related to the Sheplers indefinite lived trademark of $2.0 million. Definite-Lived Intangible Assets Definite-lived intangible assets consist of certain customer lists. Customer lists are amortized over a five-year useful life based on their estimated attrition rate. Long-Lived Assets Long-lived assets consist of property and equipment and definite-lived intangible assets. The Company assesses potential impairment of its long-lived assets whenever events or changes in circumstances indicate that an asset or asset group’s carrying value may not be recoverable. Factors that are considered important that could trigger an impairment review include a current period operating or cash flow loss combined with a history of operating or cash flow losses and a projection or forecast that demonstrates continuing losses or insufficient income associated with the use of a long-lived asset or asset group. Other factors include a significant change in the manner of the use of the asset or a significant negative industry or economic trend. This evaluation is performed based on estimated undiscounted future cash flows from operating activities compared with the carrying value of the related assets. If the undiscounted future cash flows are less than the carrying value, an impairment loss is recognized, measured by the difference between the carrying value, and the estimated fair value of the assets, with such estimated fair values determined using the best information available and in accordance with FASB ASC Topic 820, Fair Value Measurements (“ASC 820”). During fiscal 2025, fiscal 2024 and fiscal 2023, the Company did not record asset impairment charges related to its stores. Stock-Based Compensation Stock-based compensation is accounted for under FASB ASC Topic 718, Compensation—Stock Compensation (“ASC 718”). The Company accounts for all stock-based compensation transactions using a fair-value method and recognizes the fair value of each award as an expense over the service period. The Company estimates the fair value of stock options granted with service conditions using the Black-Scholes option pricing model. The use of the Black-Scholes model requires a number of estimates, including the expected option term, the expected volatility in the price of the Company’s common stock, the risk-free rate of interest and the dividend yield on the Company’s common stock. The fair value of stock options granted with both service and market vesting conditions is estimated using a Monte Carlo simulation model. The fair value of the Company’s restricted stock units and performance share units is the closing price of the Company’s common stock on the grant date. The consolidated financial statements include amounts that are based on the Company’s best estimates and judgments. The Company classifies compensation expense related to these awards in the consolidated statements of operations based on the department to which the recipient reports. Revenue Recognition Revenue is recorded for store sales upon the purchase of merchandise by customers. Transfer of control takes place at the point at which the customer receives and pays for the merchandise at the register. E-commerce sales are recorded when control transfers to the customer, which generally occurs upon delivery of the product. Shipping and handling revenues are included in total net sales. Shipping costs incurred by the Company are included as cost of goods sold. Sales taxes that are collected in connection with revenue transactions are withheld and remitted to the respective taxing authorities. As such, these taxes are excluded from revenue. Revenue is recorded net of estimated and actual sales returns and deductions for coupon redemptions, estimated future award redemption and other promotions. The sales returns reserve reflects an estimate of sales returns based on projected merchandise returns determined through the use of historical average return percentages. The total reserve for returns was $8.8 million and $7.5 million as of March 29, 2025 and March 30, 2024, respectively, and is recorded in accrued expenses and other current liabilities in the accompanying consolidated balance sheets. The Company accounts for the return asset and liability separately on a gross basis. The Company maintains a customer loyalty program. Under the program, customers accumulate points based on purchase activity. For customers to maintain their active point balance, they must make a qualifying purchase of merchandise at least once in a period. Once a loyalty program member achieves a certain point level, the member earns awards that may be redeemed for credits on merchandise purchases. To redeem awards, the member must make a qualifying purchase of merchandise within 60 days of the date the award was granted. Unredeemed awards and accumulated partial points are accrued as unearned revenue until redemption or expiration and, upon redemption and expiration, recorded as an adjustment to net sales using the relative standalone selling price method. The unearned revenue for this program is recorded in accrued expenses and other current liabilities on the consolidated balance sheets and was $6.2 million, million, and $4.1 million as of March 29, 2025, March 30, 2024, and April 1, 2023, respectively. The following table provides a reconciliation of the activity related to the Company’s customer loyalty program:
Proceeds from the sale of gift cards are deferred until the customers use the cards to acquire merchandise. Gift cards, gift certificates and store credits do not have expiration dates, and unredeemed gift cards, gift certificates and store credits are subject to state escheatment laws. Amounts remaining after escheatment are recognized in net sales in the period escheatment occurs and the liability is considered to be extinguished. The Company defers recognition of a layaway sale and its related profit to the accounting period when the customer receives the layaway merchandise. Income from the redemption of gift cards, gift card breakage, and the sale of layaway merchandise is included in net sales. The following table provides a reconciliation of the activity related to the Company’s gift card program:
Cost of Goods Sold Cost of goods sold includes the cost of merchandise, obsolescence and shrink provisions, store and distribution center occupancy costs (including rent, depreciation and utilities), inbound and outbound freight, supplier allowances, occupancy-related taxes, inventory acquisition-related costs, and compensation costs for merchandise purchasing, exclusive brand design and development and distribution center personnel. Store Opening Costs Store opening costs consist of costs incurred prior to opening a new store and primarily consist of manager and other employee payroll, travel and training costs, marketing expenses, initial opening supplies and costs of transporting initial inventory and certain fixtures to store locations, as well as occupancy costs incurred from the time that we take possession of a store site to the opening of that store. Occupancy costs are included in cost of goods sold and the other store opening costs are included in selling, general and administrative (“SG&A”) expenses. All of these costs are expensed as incurred. Advertising Costs Certain advertising costs, including pay-per-click, direct mail, television and radio promotions, event sponsorship, in-store photographs and other promotional advertising are expensed when the marketing campaign commences. The Company had prepaid advertising costs of $2.2 million and $2.4 million as of March 29, 2025 and March 30, 2024, respectively. All other advertising costs are expensed as incurred. The Company recognized $50.5 million, $44.0 million, and $40.7 million in advertising costs during fiscal 2025, fiscal 2024, and fiscal 2023, respectively. Leases The Company accounts for leases in accordance with FASB ASC Topic 842, Leases. Operating and finance lease liabilities are recognized at the lease commencement date based on the present value of the fixed lease payments using the Company's incremental borrowing rates for its population of leases. Related operating and finance lease right-of-use (“ROU”) assets are recognized based on the initial present value of the fixed lease payments, reduced by cash payments received from landlords as lease incentives, plus any prepaid rent and other direct costs from executing the leases. Amortization of both operating and finance lease right-of-use assets is performed on a straight-line basis and recorded as part of rent expense in cost of goods sold and selling, general and administrative expenses on the consolidated statements of operations. The majority of total lease costs is recorded as part of cost of goods sold, with the balance recorded in selling, general and administrative expenses on the consolidated statements of operations. The interest expense amortization component of the finance lease liabilities is recorded within interest expense on the consolidated statements of operations. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Variable lease payments are recognized as lease expense as they are incurred. Income Taxes The Company accounts for income taxes in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”), which requires the asset and liability approach for financial accounting and reporting of income taxes. Deferred tax assets and liabilities are attributable to differences between financial statement and income tax reporting. Deferred tax assets, net of any valuation allowances, represent the future tax return consequences of those differences and for operating loss and tax credit carryforwards, which will be deductible when the assets are recovered. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. The Company accounts for uncertain tax positions in accordance with ASC 740, which clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. It prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Such changes in recognition or measurement might result in the recognition of a tax benefit or an additional charge to the tax provision in the period. The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the consolidated statements of operations. Accrued interest and penalties, if incurred, are included within accrued expenses and other current liabilities in the consolidated balance sheets. There were no accrued interest or penalties for fiscal 2025 or fiscal 2024. Per Share Information Basic earnings per share is computed by dividing net income by the weighted average number of outstanding shares of common stock. In computing diluted earnings per share, the weighted average number of common shares outstanding is adjusted to reflect the effect of potentially dilutive securities such as stock options and restricted stock. In accordance with ASC 718, the Company utilizes the treasury stock method to compute the dilutive effect of stock options, restricted stock units and performance share units. Fair Value of Certain Financial Assets and Liabilities The Company follows ASC 820 which requires disclosure of the estimated fair value of certain assets and liabilities defined by the guidance as financial instruments. The Company’s financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable and debt. ASC 820 defines the fair value of financial instruments as the price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 establishes a three-level hierarchy for disclosure that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities.
Cash and cash equivalents, accounts receivable and accounts payable are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified as Level 2 or Level 3 even though there may be certain significant inputs that are readily observable. The Company believes that the recorded values of its financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or duration. Although a market quote for the fair value of its outstanding debt arrangement discussed in Note 8 “Revolving credit facilities and long-term debt” is not readily available, the Company believes its carrying value approximates fair value due to the variable interest rates, which are Level 2 inputs. There were no material financial assets or requiring fair value measurements as of March 29, 2025 on a recurring basis. Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents. At times, such amounts held at banks may be in excess of Federal Deposit Insurance Corporation insurance limits, and the Company mitigates such risk by utilizing multiple banks. Supplier Concentration Risk The Company purchases merchandise inventories from several hundred suppliers worldwide. Sales of products from the Company’s three largest suppliers totaled approximately 25% of net sales in fiscal 2025 and 24% of net sales in both fiscal 2024 and fiscal 2023. Recent Accounting Pronouncements In November 2024, the FASB issued Accounting Standards Update (“ASU”) No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures. This ASU requires additional disclosure of certain costs and expenses within the notes to the financial statements. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2026, with early adoption permitted. The amendments should be applied either prospectively or retrospectively. The Company is currently evaluating the impact of adoption on its financial disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires disaggregated information about an entity’s effective tax rate reconciliation, as well as information on income taxes paid. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. The amendments should be applied on a prospective basis, although retrospective application is permitted. The Company is currently evaluating the impact of adoption on its financial disclosures. Recently Adopted Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendment improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This ASU is applicable to the Company’s Annual Report on Form 10-K for fiscal 2025, and subsequent interim periods, with early application permitted. The Company adopted this ASU for its annual period ended March 29, 2025. |
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Segment Reporting |
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| Segment Reporting | 3. Segment Reporting The Company is an omni-channel lifestyle retail chain devoted to western and work-related footwear, apparel and accessories in the United States, and derives revenue from customers purchasing product from the Company’s stores and e-commerce websites. The Company’s CODM is its Interim Chief Executive Officer, who was appointed as of November 2024. As a result of how the CODM views and operates the Company, during the fourth quarter of fiscal 2025, the Company made changes in the composition of its operating segments. Previously, retail stores and e-commerce websites represented two operating segments, which were combined into a single reporting segment. However, the CODM regularly reviews operations and financial performance at a consolidated level. The Company determined it operates as one operating and one reportable segment. The CODM uses net income, as reported on the Consolidated Statement of Operations, to manage business activities on a consolidated basis and to evaluate and assess the performance of the Company when determining how to allocate capital resources. Segment performance is monitored and resource allocation is determined during the annual budget process. The CODM does not review segment assets at a different asset level or category than what is presented on the Consolidated Balance Sheet. The following table presents information about our segment revenue, segment profit or loss, and significant expenses (in thousands):
1 Merchandise cost of goods sold includes the cost of merchandise, inbound and outbound freight, obsolescence and shrinkage provisions, supplier allowances, and inventory acquisition-related costs. 2 Buying, occupancy, and distribution center expenses include store and distribution center occupancy costs (including rent, depreciation and utilities), occupancy-related taxes, and compensation costs for merchandise purchasing, exclusive brand design and development and distribution center personnel. For consolidated depreciation expense see Note 5: Property and Equipment, Net. 3 Selling expenses include all store-level salaries and hourly labor costs, store overhead, and other operating costs, including advertising, pay-per-click, marketing campaigns, operating supplies, repairs and maintenance, credit card fees and costs of third-party services. 4 Includes corporate compensation and benefits, travel expenses, corporate occupancy costs, stock compensation costs, legal and professional fees, insurance, and other related corporate costs. 5 Includes interest expense, other income/(loss) and income tax expense. Disaggregated Revenue The Company disaggregates net sales into the following major merchandise categories:
The Company also disaggregates net sales between stores and e-commerce:
Geographic Information Approximately 0.4% of the Company’s consolidated net sales for fiscal 2025 was generated from customers outside of the United States. Substantially all of the Company’s long-lived assets are held in the United States. |
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Prepaid Expenses and Other Current Assets |
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| Prepaid Expenses and Other Current Assets | 4. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands):
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Property and Equipment, Net |
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| Property and Equipment, Net | 5. Property and Equipment, Net Property and equipment, net, consisted of the following (in thousands):
Depreciation expense was $62.5 million, $49.5 million, and $35.9 million for fiscal 2025, fiscal 2024, and fiscal 2023, respectively. |
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Goodwill and Intangible Assets, Net |
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| Goodwill and Intangible Assets, Net | 6. Goodwill and Intangible Assets, Net Our goodwill balance totaled $197.5 million for fiscal 2025. There were no changes to the carrying amount of goodwill for fiscal 2025, fiscal 2024, and fiscal 2023. Net intangible assets consisted of the following:
Amortization expense for intangible assets totaled less than $0.1 million for fiscal 2025 and $0.1 million for each of fiscal 2024 and 2023, and is included in selling, general and administrative expenses. The Company did not record an impairment to indefinite lived trademarks in fiscal 2025 or fiscal 2023. The Company recognized an impairment of $2.0 million related to the Sheplers indefinite lived trademark in fiscal 2024, which is included in in the consolidated statements of operations. The remaining value of the Sheplers trademark was $7.2 million as of March 29, 2025. |
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Accrued Expenses and Other Current Liabilities |
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| Accrued Expenses and Other Current Liabilities | 7. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands):
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Revolving Credit Facility and Long-Term Debt |
12 Months Ended |
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Mar. 29, 2025 | |
| Revolving Credit Facility and Long-Term Debt | |
| Revolving Credit Facility and Long-Term Debt | 8. Revolving Credit Facility and Long-Term Debt The Company currently has a $250.0 million syndicated senior secured asset-based revolving credit facility (“Wells Fargo Revolver”) for which Wells Fargo Bank, National Association is agent (“Wells Fargo”). Under the Wells Fargo Revolver, the sublimit for letters of credit is $10.0 million and the current maturity date is July 11, 2027. Revolving credit loans under the Wells Fargo Revolver bear interest at per annum rates equal to, at the Company’s option, either (i) Adjusted Term Secured Overnight Financing Rate (defined as “Term SOFR” for the applicable interest period plus a fixed credit spread adjustment of 0.10%) plus an applicable margin for Term SOFR loans, or (ii) the base rate plus an applicable margin for base rate loans. The base rate is calculated at the highest of (a) the federal funds rate plus 0.5%, (b) the Wells Fargo prime rate and (c) Term SOFR for a one-month tenor in effect on such day plus 1.0%. The applicable margin is calculated based on a pricing grid that in each case is linked to quarterly average excess availability. For Term SOFR loans, the applicable margin ranges from 1.00% to 1.25% and for base rate loans it ranges from 0.00% to 0.25%. The interest on base rate loans under the Wells Fargo Revolver is payable in quarterly installments ending on the maturity date and for Term SOFR loans is payable on the earlier of the last day of each interest period applicable thereto, or on each three-month interval of such interest period. The Company also pays a commitment fee of 0.25% per annum of the actual daily amount of the unutilized revolving loans. The borrowing base of the Wells Fargo Revolver is calculated on a monthly basis and is based on the amount of eligible credit card receivables, commercial accounts, inventory, and available reserves. The amounts outstanding under the Wells Fargo Revolver and letter of credit commitments as of March 29, 2025 were zero and $2.9 million, respectively. The amounts outstanding under the Wells Fargo Revolver and letter of credit commitments as of March 30, 2024 were zero and $2.3 million, respectively. Total interest expense incurred in fiscal 2025 on the Wells Fargo Revolver was $0.8 million and the weighted average interest rate for fiscal 2025 was 7.8%. Total interest expense incurred in fiscal 2024 on the Wells Fargo Revolver was $1.7 million and the weighted average interest rate for fiscal 2024 was 7.0%. Total interest expense incurred in fiscal 2023 on the Wells Fargo Revolver was $5.2 million and the weighted average interest rate for fiscal 2023 was 4.3%. All obligations under the Wells Fargo Revolver are unconditionally guaranteed by the Company and each of its direct and indirect domestic subsidiaries (other than certain immaterial subsidiaries) which are not named as borrowers under the Wells Fargo Revolver. The Wells Fargo Revolver contains customary provisions relating to mandatory prepayments, restricted payments, voluntary payments, affirmative and negative covenants, and events of default. In addition, the terms of the Wells Fargo Revolver require the Company to maintain, on a consolidated basis, a Consolidated Fixed Charge Coverage Ratio (as defined in the Wells Fargo Revolver) of at least 1.00:1.00 during such times as a covenant trigger event shall exist. The Wells Fargo Revolver also requires the Company to pay additional interest of 2.0% per annum upon triggering certain specified events of default set forth therein. For financial accounting purposes, the requirement for the Company to pay a higher interest rate upon an event of default is an embedded derivative. As of March 29, 2025, the fair value of this embedded derivative was estimated and was not significant. As of March 29, 2025, the Company was in compliance with the Wells Fargo Revolver debt covenants. Debt Issuance Costs Debt issuance costs totaling $1.7 million were incurred under the Wells Fargo Revolver and are included as assets on the consolidated balance sheets in prepaid expenses and other current assets. Total unamortized debt issuance costs were $0.2 million and $0.4 million as of March 29, 2025 and March 30, 2024, respectively. These amounts are being amortized to interest expense over the term of the Wells Fargo Revolver. Total amortization expense of $0.1 million related to the Wells Fargo Revolver is included as a component of interest expense in each of fiscal 2025, fiscal 2024 and fiscal 2023. |
Stock-Based Compensation |
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| Stock-Based Compensation | 9. Stock-Based Compensation Equity Incentive Plans On October 19, 2014, the Company approved the 2014 Equity Incentive Plan, which was amended as of August 24, 2016 (as amended, the “2014 Plan”). The 2014 Plan authorized the Company to issue awards to employees, consultants and directors for up to a total of 3,600,000 shares of common stock, par value $0.0001 per share. All awards granted by the Company under the 2014 Plan were nonqualified stock options, restricted stock awards, restricted stock units or performance share units. Options granted under the 2014 Plan have a life of to ten years and vested over service periods of or five years or in connection with certain events as defined by the 2014 Plan and as determined by the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”). Restricted stock awards granted under the 2014 Plan vested over or four years, as determined by the Compensation Committee. Restricted stock units granted under the 2014 Plan vested over service periods of , or five years, as determined by the Compensation Committee. Performance share units granted under the 2014 Plan were subject to the vesting criteria discussed further below. On August 26, 2020 (the “Effective Date”), the Company’s stockholders approved the Boot Barn Holdings, Inc. 2020 Equity Incentive Plan, and on August 25, 2021, the Company’s stockholders approved Amendment No. 2021-1 to the Boot Barn Holdings, Inc. 2020 Equity Incentive Plan (as amended, the “2020 Plan”). Following the approval of the 2020 Plan, no further grants have been made under the 2014 Plan. The 2020 Plan authorizes the issuance of awards to employees (including executive officers) of the Company or any of its subsidiaries or other Affiliates (as defined in the 2020 Plan) and non-employee directors of the Company’s Board of Directors or any member of any board of directors of any Affiliate for up to a total of 2,000,000 shares of common stock, par value $0.0001 per share. In addition, and subject to adjustment as set forth in the 2020 Plan, shares of common stock subject to outstanding awards under the 2014 Plan that terminate, expire or are cancelled, forfeited, exchanged or surrendered without having been exercised, vested or paid in shares or are paid in cash after the Effective Date shall be added to the share reserve under the 2020 Plan. As of March 29, 2025, all awards granted under the 2020 Plan to date have been market-based stock options, restricted stock units or performance share units. Market-based stock options granted under the 2020 Plan are subject to the vesting criteria discussed further below. Restricted stock units granted under the 2020 Plan vest over service periods ranging from to four years, as determined by the Compensation Committee. Performance share units granted under the 2020 Plan are subject to the vesting criteria discussed further below. Stock Options During fiscal 2025 and fiscal 2024, the Company did not grant options to purchase shares. During fiscal 2023, the Company granted its former Chief Executive Officer (“CEO”) an option to purchase 86,189 shares of common stock under the 2020 Plan. This option contained both service and market vesting conditions. Vesting of this option was contingent upon the market price of the Company’s common stock achieving three stated price targets for 30 consecutive trading days through the third anniversary of the date of grant. If the first market price target was met, 33% of the option granted would have cliff vested on the third anniversary of the date of grant, with an additional 33% of the option vesting on the third anniversary of the date of grant if the second market price target was met, and the last 34% of the option vesting on the third anniversary of the date of grant if the final market price target was met. The total grant date fair value of this option was $4.0 million, with a grant date fair value of $46.41 per share. During fiscal 2025, the Company’s former CEO resigned and forfeited all of his unvested equity awards. This resulted in a reversal of expense related to this stock option, which was being recognized on a straight-line basis over the three-year service period. The exercise price of this award was $86.96 per share. The fair value of the option was estimated using a Monte Carlo simulation model. The following significant assumptions were used as of May 12, 2022, the date of grant:
During fiscal 2023, the Company did not grant any other options to purchase shares. Intrinsic value for stock options is defined as the difference between the market price of the Company’s common stock on the last business day of the fiscal year and the weighted average exercise price of in-the-money stock options outstanding at the end of each fiscal period. The following table summarizes the stock award activity for the fiscal year ended March 29, 2025:
A summary of the status of non-vested stock options as of March 29, 2025 and changes during fiscal 2025 is presented below:
The tax benefit from stock options exercised during fiscal 2025, fiscal 2024 and fiscal 2023 was $0.7 million, $1.2 million, and $0.7 million, respectively. Restricted Stock Units During fiscal 2025, fiscal 2024 and fiscal 2023, the Company granted 109,013, 132,713, and 94,262 restricted stock units (“RSUs”), respectively, to non-employee directors, the Executive Chairman of the Company’s Board of Directors, and various employees under the 2020 Plan. The restricted stock units granted vest in periods ranging from to three years, provided that the respective award recipient continues to be employed by the Company through the vesting period (subject to certain exceptions). The grant date fair values of the RSUs granted during fiscal 2025, fiscal 2024 and fiscal 2023 totaled $12.5 million, $8.6 million and $8.2 million, respectively. The Company is recognizing the expense relating to these awards on a straight-line basis over the service period of each award (subject to certain exceptions), commencing on the date of grant. The grant date fair values of the RSUs granted during fiscal 2025, fiscal 2024 and fiscal 2023 were initially measured using the Company’s closing stock price on the date of grant with the resulting stock compensation expense recognized on a straight-line basis over the vesting period, subject to certain exceptions. A summary of the status of non-vested RSUs as of March 29, 2025 and changes during fiscal 2025 is presented below:
The total fair value of RSUs vested during fiscal 2025 was $14.3 million. Performance Share Units During fiscal 2025, fiscal 2024 and fiscal 2023, the Company granted 61,530, 112,740 and 57,843 performance share units (“PSUs”), respectively, to various employees under the 2020 Plan with grant date fair values of $6.9 million, $7.3 million and $5.0 million, respectively. PSUs are stock-based awards in which the number of shares ultimately received depends on the Company’s performance against its cumulative earnings per share target over a three-year performance period. The performance periods for PSUs granted during: (i) fiscal 2025, began March 31, 2024 and ends March 27, 2027; (ii) fiscal 2024, began April 2, 2023 and ends March 28, 2026; and fiscal 2023, began March 27, 2022 and ended March 29, 2025. The performance metrics for these PSU awards were established by the Company at the beginning of the performance period. At the end of the performance period, the number of shares to be issued is fixed based upon the degree of achievement of the pre-determined performance goals for such PSUs. If the cumulative three-year performance goals are below the threshold level, the number of PSUs to vest will be 0%, if the performance goals are at the threshold level, the number of PSUs to vest will be 50% of the target amounts, if the performance goals are at the target level, the number of PSUs to vest will be 100% of the target amounts, and if the performance goals are at the maximum level, the number of PSUs to vest will be 200% of the target amounts, each subject to continued service by the applicable award recipient through the last day of the performance period (subject to certain exceptions). If performance is between threshold and target goals or between target and maximum goals, the number of PSUs to vest will be determined by linear interpolation. The number of shares ultimately issued can range from 0% to 200% of the participant's target award. The grant date fair values of the PSUs granted during fiscal 2025, fiscal 2024 and fiscal 2023 were initially measured using the Company’s closing stock price on the date of grant with the resulting stock compensation expense recognized on a straight-line basis over the three-year vesting period, subject to certain exceptions. The expense recognized over the vesting period is adjusted up or down on a quarterly basis based on the anticipated performance level during the performance period. If the performance goals are not probable of achievement during the performance period, any previously recognized stock compensation expense is reversed. The PSUs are forfeited if the threshold performance goals are not achieved as of the end of the performance period. A summary of the status of non-vested PSUs as of March 29, 2025 and changes during fiscal 2025 is presented below:
The total fair value of PSUs vested during fiscal 2025 was $6.7 million. Stock-Based Compensation Expense During fiscal 2025, the Company’s former CEO resigned and forfeited all of his unvested equity awards. This resulted in a net reversal of stock-based compensation expense of $6.0 million associated with the former CEO’s unvested equity awards during fiscal 2025. A summary of stock-based compensation expense by award-type is presented below:
Stock-based compensation expense of $4.3 million, $2.4 million, and $1.3 million was recorded in cost of goods sold in the consolidated statements of operations for fiscal 2025, fiscal 2024, and fiscal 2023, respectively. All other stock-based compensation expense is included in selling, general and administrative expenses in the consolidated statements of operations. A summary of unamortized stock-based compensation expense and the weighted-average remaining recognition period of awards granted under the Company’s stock-based compensation plans as of March 29, 2025 is presented below:
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Commitments and Contingencies |
12 Months Ended |
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| Commitments and Contingencies | |
| Commitments and Contingencies | 10. Commitments and Contingencies The Company is involved, from time to time, in litigation that is incidental to its business. The Company has reviewed these matters to determine if reserves are required for losses that are probable and reasonable to estimate in accordance with FASB ASC Topic 450, Contingencies. The Company evaluates such reserves, if any, based upon several criteria, including the merits of each claim, settlement discussions and advice from outside legal counsel, as well as indemnification of amounts expended by the Company’s insurers or others, if any. The Company is also subject to certain other pending or threatened litigation matters incidental to its business. In management’s opinion, none of these legal matters, individually or in the aggregate, will have a material effect on the Company’s financial position, results of operations, or liquidity. During the normal course of its business, the Company has made certain indemnifications and commitments under which the Company may be required to make payments for certain transactions. These indemnifications include those given to various lessors in connection with facility leases for certain claims arising from such facility leases, and indemnifications to directors and officers of the Company to the maximum extent permitted under the laws of the State of Delaware. The majority of these indemnifications and commitments do not provide for any limitation of the maximum potential future payments the Company could be obligated to make, and their duration may be indefinite. The Company has not recorded any liability for these indemnifications and commitments in the consolidated balance sheets as the impact is expected to be immaterial. |
Leases |
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| Leases | 11. Leases The Company does not own any real estate. Instead, most of its retail store locations are occupied under operating leases. The store leases generally have a base lease term of or 10 years, with one or more renewal periods of five years, on average, exercisable at the Company’s option. The Company is generally responsible for the payment of property taxes and insurance, utilities and common area maintenance fees. Some leases also require additional payments based on percentage of sales. Lease terms include the non-cancellable portion of the underlying leases along with any reasonably certain lease periods associated with available renewal periods, termination options and purchase options. ROU assets are tested for impairment in the same manner as long-lived assets. During fiscal 2025, fiscal 2024 and fiscal 2023, the Company did not record ROU asset impairment charges related to its stores. ROU assets and lease liabilities as of March 29, 2025 and March 30, 2024 consist of the following (in thousands):
Total lease costs for each of fiscal 2025, fiscal 2024 and fiscal 2023 were:
The following table summarizes future lease payments as of March 29, 2025:
As of March 29, 2025, the Company’s minimum lease commitment for operating leases signed but not yet commenced was $115.2 million. The following table includes supplemental lease information:
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Defined Contribution Plan |
12 Months Ended |
|---|---|
Mar. 29, 2025 | |
| Defined Contribution Plan | |
| Defined Contribution Plan | 12. Defined Contribution Plan The Boot Barn 401(k) Plan (the “401(k) Plan”) is a qualified plan under Section 401(k) of the Internal Revenue Code of 1986, as amended (“IRC”). The 401(k) Plan provides a matching contribution for all employees that work a minimum of 1,000 hours per year. Contributions to the plan are based on certain criteria as defined in the agreement governing the 401(k) Plan. Participating employees are allowed to contribute up to the statutory maximum set by the Internal Revenue Service. The Company provides a safe harbor matching contribution that matches 100% of employee contributions up to 3% of their respective wages and then 50% of further contributions up to 5% of their respective wages. Contributions to the plan and charges to selling, general and administrative expenses were $2.5 million, $2.3 million, and $2.1 million for fiscal 2025, fiscal 2024, and fiscal 2023, respectively. |
Income Taxes |
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| Income Taxes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | 13. Income Taxes Income tax expense consisted of the following:
The reconciliation between the Company’s effective tax rate on income from operations and the statutory tax rate is as follows:
Differences between the effective tax rate and the statutory rate relate primarily to excess tax benefits due to income tax accounting for share-based compensation, IRC Section 162(m) and state taxes. Deferred taxes reflect the net tax effects of the temporary differences between the carrying amount of assets and liabilities for financial reporting and the amount used for income tax purposes. Significant components of the Company’s net deferred tax liabilities as of March 29, 2025 and March 30, 2024 consisted of the following (in thousands):
As of March 29, 2025, the Company had no net operating loss carryforwards for federal and state tax purposes. Valuation allowances are established, when necessary, to reduce deferred income tax assets to the amounts expected to be realized. To this end, the Company has considered and evaluated its sources of taxable income, including forecasted future taxable income, and the Company has concluded that a valuation allowance is not necessary as of March 29, 2025 and March 30, 2024. The Company applies ASC 740, which contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may require periodic adjustments. At March 29, 2025 and March 30, 2024, no material amounts were recorded for any uncertain tax positions. The Company’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. To the extent that accrued interest and penalties do not ultimately become payable, amounts accrued will be reduced and reflected as a reduction of the overall income tax provision in the period that such determination is made. The Company does not have any accrued interest or penalties associated with any unrecognized tax benefits as of March 29, 2025 and March 30, 2024. The Company does not anticipate a significant change in its uncertain tax benefits over the next 12 months. The major jurisdictions in which the Company files income tax returns include the U.S. federal jurisdiction, as well as various state jurisdictions within the U.S. The Company’s fiscal years 2020 through 2024 returns are subject to examination by the U.S. federal and various state tax authorities. |
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Related Party Transactions |
12 Months Ended |
|---|---|
Mar. 29, 2025 | |
| Related Party Transactions | |
| Related Party Transactions | 14. Related Party Transactions The Company had capital expenditures with Floor & Decor Holdings, Inc., a specialty retail vendor in the flooring market. These capital expenditures amounted to less than $0.1 million in each of fiscal 2025 and fiscal 2024 and $0.1 million in fiscal 2023, and were recorded as property and equipment, net on the consolidated balance sheets. During these fiscal years, certain members of the Company’s board of directors either served on the board of directors or as an executive officer at Floor & Decor Holdings, Inc. John Grijalva, the husband of Laurie Grijalva, Chief Merchandising Officer, works as an independent sales representative primarily for Dan Post Boot Company, Outback Trading Company, LTD and KS Marketing LLC. Mr. Grijalva conducts his business as an independent sales representative through a limited liability company of which he and Ms. Grijalva are members. We purchased merchandise from these suppliers in the aggregate approximate amounts of $38.0 million, $32.8 million, and $45.0 million in fiscal 2025, fiscal 2024, and fiscal 2023, respectively. Mr. Grijalva was paid commissions by the companies he represents amounting to approximately $2.5 million, $2.2 million, and $3.2 million in fiscal 2025, fiscal 2024 and fiscal 2023, respectively, a portion of which were passed on to other sales representatives working for Mr. Grijalva. |
Earnings Per Share |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Earnings Per Share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share | 15. Earnings Per Share Earnings per share is computed under the provisions of FASB ASC Topic 260, Earnings Per Share. Basic earnings per share is computed based on the weighted average number of outstanding shares of common stock during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method, whereby proceeds from such exercise and unamortized compensation, if any, on share-based awards are assumed to be used by the Company to purchase the shares of common stock at the average market price during the period. The dilutive effect of stock options and restricted stock is applicable only in periods of net income. Performance share units and market-based stock option awards are excluded from the calculation of diluted earnings per share until their respective performance or market criteria has been achieved. The components of basic and diluted earnings per share of common stock, in aggregate, for fiscal 2025, 2024, and 2023 are as follows:
During fiscal 2025, fiscal 2024 and fiscal 2023, securities outstanding totaling approximately zero, 86,882, and 198,511 shares, comprised of options and restricted stock, were excluded from the computation of weighted average diluted common shares outstanding, as the effect of doing so would have been anti-dilutive. |
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Subsequent Events |
12 Months Ended |
|---|---|
Mar. 29, 2025 | |
| Subsequent Events | |
| Subsequent Events | 16. Subsequent Events On May 1, 2025, the Company’s Board of Directors (the “Board”) appointed John Hazen as the Chief Executive Officer of the Company, effective as of May 5, 2025. The Board also increased the size of the Board from seven to eight directors and appointed Mr. Hazen to the Board, effective as of May 5, 2025. On May 8, 2025, the Board authorized the Company to repurchase up to $200 million of its common stock (the “Repurchase Program”). Repurchases under the Repurchase Program may be made through a variety of methods, which could include open market purchases, which may or may not be pursuant to Rule 10b5-1 trading plans, privately negotiated transactions, block trades, accelerated share repurchase plans, or any combination of such methods. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities, and other factors. The Company is not obligated to repurchase any specific amount of shares of common stock. The Repurchase Program does not have an expiration date and may be amended or terminated by the Board at any time without prior notice. |
Pay vs Performance Disclosure - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Pay vs Performance Disclosure | |||
| Net Income (Loss) | $ 180,942 | $ 146,996 | $ 170,553 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Mar. 29, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Mar. 29, 2025 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Mar. 29, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | Under the oversight of the Audit Committee, our management and the INFOSEC team have established comprehensive processes for identifying, assessing and managing material risks from cybersecurity threats, and these processes are integrated into our overall enterprise risk management program. Our approach is proactive and adaptive, featuring regular security assessments, third-party audits, team member training, and continuous improvement of our cybersecurity infrastructure. We work to align our practices with industry best practices and regulatory standards. We continually evaluate our information technology systems to identify new and monitor existing cybersecurity risks based on observed activity on the systems. We evaluate the nature and severity of identified risks, and whether changes to the system are necessary. We perform annual cybersecurity training for all employees with access to our systems and conduct regular test phishing campaigns. We engage a third-party to assist in monitoring, preventing and detecting potential cybersecurity vulnerabilities and incidents, including performing scans of our information technology systems and penetration testing. We use the results of the various tests to inform our response plan, update our systems, and train employees. |
| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | Under the oversight of the Audit Committee, our management and the INFOSEC team have established comprehensive processes for identifying, assessing and managing material risks from cybersecurity threats, and these processes are integrated into our overall enterprise risk management program. Our approach is proactive and adaptive, featuring regular security assessments, third-party audits, team member training, and continuous improvement of our cybersecurity infrastructure. We work to align our practices with industry best practices and regulatory standards. We continually evaluate our information technology systems to identify new and monitor existing cybersecurity risks based on observed activity on the systems. We evaluate the nature and severity of identified risks, and whether changes to the system are necessary. We perform annual cybersecurity training for all employees with access to our systems and conduct regular test phishing campaigns. We engage a third-party to assist in monitoring, preventing and detecting potential cybersecurity vulnerabilities and incidents, including performing scans of our information technology systems and penetration testing. We use the results of the various tests to inform our response plan, update our systems, and train employees. |
| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | The Audit Committee, under oversight of the Board of Directors, has responsibility for oversight of risks from cybersecurity threats, and the assessment and management of cybersecurity risks is the responsibility of the Information Security (“INFOSEC”) team. The INFOSEC team is managed by the Vice President, Information Technology, who reports to our Chief Financial Officer. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | Audit Committee |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Audit Committee, under oversight of the Board of Directors, has responsibility for oversight of risks from cybersecurity threats, and the assessment and management of cybersecurity risks is the responsibility of the Information Security (“INFOSEC”) team. The INFOSEC team is managed by the Vice President, Information Technology, who reports to our Chief Financial Officer. |
| Cybersecurity Risk Role of Management [Text Block] | Under the oversight of the Audit Committee, our management and the INFOSEC team have established comprehensive processes for identifying, assessing and managing material risks from cybersecurity threats, and these processes are integrated into our overall enterprise risk management program. Our approach is proactive and adaptive, featuring regular security assessments, third-party audits, team member training, and continuous improvement of our cybersecurity infrastructure. We work to align our practices with industry best practices and regulatory standards. We continually evaluate our information technology systems to identify new and monitor existing cybersecurity risks based on observed activity on the systems. We evaluate the nature and severity of identified risks, and whether changes to the system are necessary. We perform annual cybersecurity training for all employees with access to our systems and conduct regular test phishing campaigns. We engage a third-party to assist in monitoring, preventing and detecting potential cybersecurity vulnerabilities and incidents, including performing scans of our information technology systems and penetration testing. We use the results of the various tests to inform our response plan, update our systems, and train employees. Upon the identification of a cybersecurity incident, the Incident Response Team (“IRT”) initiates our Security Incident Response Policy. This includes determining the scope and risk level of the incident, the incident response, and the steps necessary to reduce the likelihood of reoccurrence. Depending on the severity of the incident, the IRT reports the incident to the Audit Committee, as well as communicates with other appropriate stakeholders. In addition, a summary of cybersecurity incidents, results of testing, corporate security training and planned enhancements are reported to the Audit Committee at least quarterly by the Vice President, Information Technology. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | Vice President, Information Technology |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | Our current Vice President, Information Technology and other members of our INFOSEC team collectively have more than 60 years of experience in information technology and extensive education and industry experience managing cybersecurity risks, developing and implementing cybersecurity policies, and responding to cybersecurity incidents. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | We continually evaluate our information technology systems to identify new and monitor existing cybersecurity risks based on observed activity on the systems. We evaluate the nature and severity of identified risks, and whether changes to the system are necessary. We perform annual cybersecurity training for all employees with access to our systems and conduct regular test phishing campaigns. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Summary of Significant Accounting Policies (Policies) |
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| Summary of Significant Accounting Policies | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basis of Presentation | Basis of Presentation The Company’s consolidated financial statements, prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), include the accounts of the Company and each of its subsidiaries, including Boot Barn Holdings, Inc., Boot Barn, Inc., RCC Western Stores, Inc. (“RCC”), Baskins Acquisition Holdings, LLC (“Baskins”), Sheplers, LLC and Sheplers Holding, LLC (collectively with Sheplers, LLC, “Sheplers”). All intercompany accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation. The vast majority of the Company’s identifiable assets are in the United States. |
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| Fiscal Periods | Fiscal Year The Company reports its results of operations and cash flows on a 52- or 53-week basis, and its fiscal year ends on the last Saturday of March unless April 1st is a Saturday, in which case the fiscal year ends on April 1st. The fiscal years ended March 29, 2025 (“fiscal 2025”) and March 30, 2024 (“fiscal 2024”) each consisted of 52 weeks, and the fiscal year ended April 1, 2023 (“fiscal 2023”) was a 53-week period. |
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| Comprehensive Income | Comprehensive Income The Company does not have any components of other comprehensive income recorded within its consolidated financial statements and, therefore, does not separately present a statement of comprehensive income in its consolidated financial statements. |
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| Segment Reporting | Segment Reporting GAAP has established guidance for reporting information about a company’s operating segments, including disclosures related to a company’s products and services, geographic areas and major customers. The Company monitors and reviews its segment reporting structure in accordance with authoritative guidance to determine whether any changes have occurred that would impact its reportable segments. The Company’s chief operating decision maker (“CODM”) is its Interim Chief Executive Officer, who was appointed as of November 2024. The CODM regularly reviews operations and financial performance at a consolidated level, based on a single operating segment. The Company operates as one operating and one reportable segment. Further, the Company’s operations represent one reporting unit for the purpose of its goodwill impairment analysis. |
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Among the significant estimates affecting the Company’s consolidated financial statements are those relating to revenue recognition, lease accounting, inventories, goodwill, intangible and long-lived assets, stock-based compensation and income taxes. Management regularly evaluates its estimates and assumptions based upon historical experience and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. To the extent actual results differ from those estimates, the Company’s future results of operations may be affected. |
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| Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents also include receivables from credit card sales. The carrying amounts of cash and cash equivalents represent their fair values. |
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| Accounts Receivable | Accounts Receivable The Company’s accounts receivable consist of amounts due from commercial customers for merchandise sold, as well as receivables from suppliers under co-operative arrangements. The Company’s allowance for credit losses was $0.6 million as of both March 29, 2025 and March 30, 2024. |
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| Inventories | Inventories Inventories consist primarily of purchased merchandise and are valued at the lower of cost or net realizable value. Cost is determined using the weighted-average cost method and includes the cost of merchandise and import related costs, including freight, duty and agent commissions. The Company assesses the recoverability of inventory through a periodic review of historical usage and present demand. When the inventory on hand exceeds the foreseeable demand, the value of inventory that, at the time of the review, is not expected to be sold is written down to its estimated net realizable value. |
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| Debt Issuance Costs and Debt Discounts | Debt Issuance Costs and Debt Discounts Debt issuance costs are capitalized and amortized to interest expense over the terms of the applicable loan agreements using the effective interest method. Those costs related to the issuance of debt are presented as a reduction to the principal amount of the debt. Debt issuance costs incurred with the issuance of revolving credit lines are included in prepaid expenses and other current assets. Debt discounts arise when transaction fees are paid to the lending institution. Debt discounts are recorded as a reduction to the principal amount of the debt. Amortization of debt discounts is recorded as an increase to the net principal amount of the debt and as a charge to interest expense over the term of the applicable loan agreement using the effective interest method. |
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| Property and Equipment, net | Property and Equipment, net Property and equipment consists of leasehold improvements, machinery and equipment, furniture and fixtures, software, and vehicles. Property and equipment is subject to depreciation and is recorded at cost less accumulated depreciation. Expenditures for major remodels and improvements are capitalized while minor replacements, maintenance, and repairs that do not improve or extend the life of such assets are charged to expense. Gains or losses on disposal of fixed assets, when applicable, are reflected in operations. Depreciation is computed using the straight-line method over the estimated useful lives, ranging from to ten years. The Company’s property and equipment are depreciated using the following estimated useful lives:
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| Goodwill and Indefinite-Lived Intangible Assets |
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| Definite-Lived Intangible Assets | Definite-Lived Intangible Assets Definite-lived intangible assets consist of certain customer lists. Customer lists are amortized over a five-year useful life based on their estimated attrition rate. |
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| Long-Lived Assets | Long-Lived Assets Long-lived assets consist of property and equipment and definite-lived intangible assets. The Company assesses potential impairment of its long-lived assets whenever events or changes in circumstances indicate that an asset or asset group’s carrying value may not be recoverable. Factors that are considered important that could trigger an impairment review include a current period operating or cash flow loss combined with a history of operating or cash flow losses and a projection or forecast that demonstrates continuing losses or insufficient income associated with the use of a long-lived asset or asset group. Other factors include a significant change in the manner of the use of the asset or a significant negative industry or economic trend. This evaluation is performed based on estimated undiscounted future cash flows from operating activities compared with the carrying value of the related assets. If the undiscounted future cash flows are less than the carrying value, an impairment loss is recognized, measured by the difference between the carrying value, and the estimated fair value of the assets, with such estimated fair values determined using the best information available and in accordance with FASB ASC Topic 820, Fair Value Measurements (“ASC 820”). During fiscal 2025, fiscal 2024 and fiscal 2023, the Company did not record asset impairment charges related to its stores. |
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| Stock-Based Compensation | Stock-Based Compensation Stock-based compensation is accounted for under FASB ASC Topic 718, Compensation—Stock Compensation (“ASC 718”). The Company accounts for all stock-based compensation transactions using a fair-value method and recognizes the fair value of each award as an expense over the service period. The Company estimates the fair value of stock options granted with service conditions using the Black-Scholes option pricing model. The use of the Black-Scholes model requires a number of estimates, including the expected option term, the expected volatility in the price of the Company’s common stock, the risk-free rate of interest and the dividend yield on the Company’s common stock. The fair value of stock options granted with both service and market vesting conditions is estimated using a Monte Carlo simulation model. The fair value of the Company’s restricted stock units and performance share units is the closing price of the Company’s common stock on the grant date. The consolidated financial statements include amounts that are based on the Company’s best estimates and judgments. The Company classifies compensation expense related to these awards in the consolidated statements of operations based on the department to which the recipient reports. |
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| Revenue Recognition | Revenue Recognition Revenue is recorded for store sales upon the purchase of merchandise by customers. Transfer of control takes place at the point at which the customer receives and pays for the merchandise at the register. E-commerce sales are recorded when control transfers to the customer, which generally occurs upon delivery of the product. Shipping and handling revenues are included in total net sales. Shipping costs incurred by the Company are included as cost of goods sold. Sales taxes that are collected in connection with revenue transactions are withheld and remitted to the respective taxing authorities. As such, these taxes are excluded from revenue. Revenue is recorded net of estimated and actual sales returns and deductions for coupon redemptions, estimated future award redemption and other promotions. The sales returns reserve reflects an estimate of sales returns based on projected merchandise returns determined through the use of historical average return percentages. The total reserve for returns was $8.8 million and $7.5 million as of March 29, 2025 and March 30, 2024, respectively, and is recorded in accrued expenses and other current liabilities in the accompanying consolidated balance sheets. The Company accounts for the return asset and liability separately on a gross basis. The Company maintains a customer loyalty program. Under the program, customers accumulate points based on purchase activity. For customers to maintain their active point balance, they must make a qualifying purchase of merchandise at least once in a period. Once a loyalty program member achieves a certain point level, the member earns awards that may be redeemed for credits on merchandise purchases. To redeem awards, the member must make a qualifying purchase of merchandise within 60 days of the date the award was granted. Unredeemed awards and accumulated partial points are accrued as unearned revenue until redemption or expiration and, upon redemption and expiration, recorded as an adjustment to net sales using the relative standalone selling price method. The unearned revenue for this program is recorded in accrued expenses and other current liabilities on the consolidated balance sheets and was $6.2 million, million, and $4.1 million as of March 29, 2025, March 30, 2024, and April 1, 2023, respectively. The following table provides a reconciliation of the activity related to the Company’s customer loyalty program:
Proceeds from the sale of gift cards are deferred until the customers use the cards to acquire merchandise. Gift cards, gift certificates and store credits do not have expiration dates, and unredeemed gift cards, gift certificates and store credits are subject to state escheatment laws. Amounts remaining after escheatment are recognized in net sales in the period escheatment occurs and the liability is considered to be extinguished. The Company defers recognition of a layaway sale and its related profit to the accounting period when the customer receives the layaway merchandise. Income from the redemption of gift cards, gift card breakage, and the sale of layaway merchandise is included in net sales. The following table provides a reconciliation of the activity related to the Company’s gift card program:
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| Cost of Goods Sold | Cost of Goods Sold Cost of goods sold includes the cost of merchandise, obsolescence and shrink provisions, store and distribution center occupancy costs (including rent, depreciation and utilities), inbound and outbound freight, supplier allowances, occupancy-related taxes, inventory acquisition-related costs, and compensation costs for merchandise purchasing, exclusive brand design and development and distribution center personnel. |
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| Store Opening Costs | Store Opening Costs Store opening costs consist of costs incurred prior to opening a new store and primarily consist of manager and other employee payroll, travel and training costs, marketing expenses, initial opening supplies and costs of transporting initial inventory and certain fixtures to store locations, as well as occupancy costs incurred from the time that we take possession of a store site to the opening of that store. Occupancy costs are included in cost of goods sold and the other store opening costs are included in selling, general and administrative (“SG&A”) expenses. All of these costs are expensed as incurred. |
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| Advertising Costs | Advertising Costs Certain advertising costs, including pay-per-click, direct mail, television and radio promotions, event sponsorship, in-store photographs and other promotional advertising are expensed when the marketing campaign commences. The Company had prepaid advertising costs of $2.2 million and $2.4 million as of March 29, 2025 and March 30, 2024, respectively. All other advertising costs are expensed as incurred. The Company recognized $50.5 million, $44.0 million, and $40.7 million in advertising costs during fiscal 2025, fiscal 2024, and fiscal 2023, respectively. |
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| Leases | Leases The Company accounts for leases in accordance with FASB ASC Topic 842, Leases. Operating and finance lease liabilities are recognized at the lease commencement date based on the present value of the fixed lease payments using the Company's incremental borrowing rates for its population of leases. Related operating and finance lease right-of-use (“ROU”) assets are recognized based on the initial present value of the fixed lease payments, reduced by cash payments received from landlords as lease incentives, plus any prepaid rent and other direct costs from executing the leases. Amortization of both operating and finance lease right-of-use assets is performed on a straight-line basis and recorded as part of rent expense in cost of goods sold and selling, general and administrative expenses on the consolidated statements of operations. The majority of total lease costs is recorded as part of cost of goods sold, with the balance recorded in selling, general and administrative expenses on the consolidated statements of operations. The interest expense amortization component of the finance lease liabilities is recorded within interest expense on the consolidated statements of operations. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Variable lease payments are recognized as lease expense as they are incurred. |
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| Income Taxes | Income Taxes The Company accounts for income taxes in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”), which requires the asset and liability approach for financial accounting and reporting of income taxes. Deferred tax assets and liabilities are attributable to differences between financial statement and income tax reporting. Deferred tax assets, net of any valuation allowances, represent the future tax return consequences of those differences and for operating loss and tax credit carryforwards, which will be deductible when the assets are recovered. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. The Company accounts for uncertain tax positions in accordance with ASC 740, which clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. It prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Such changes in recognition or measurement might result in the recognition of a tax benefit or an additional charge to the tax provision in the period. The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the consolidated statements of operations. Accrued interest and penalties, if incurred, are included within accrued expenses and other current liabilities in the consolidated balance sheets. There were no accrued interest or penalties for fiscal 2025 or fiscal 2024. |
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| Per Share Information | Per Share Information Basic earnings per share is computed by dividing net income by the weighted average number of outstanding shares of common stock. In computing diluted earnings per share, the weighted average number of common shares outstanding is adjusted to reflect the effect of potentially dilutive securities such as stock options and restricted stock. In accordance with ASC 718, the Company utilizes the treasury stock method to compute the dilutive effect of stock options, restricted stock units and performance share units. |
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| Fair Value of Certain Financial Assets and Liabilities | Fair Value of Certain Financial Assets and Liabilities The Company follows ASC 820 which requires disclosure of the estimated fair value of certain assets and liabilities defined by the guidance as financial instruments. The Company’s financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable and debt. ASC 820 defines the fair value of financial instruments as the price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 establishes a three-level hierarchy for disclosure that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities.
Cash and cash equivalents, accounts receivable and accounts payable are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified as Level 2 or Level 3 even though there may be certain significant inputs that are readily observable. The Company believes that the recorded values of its financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or duration. Although a market quote for the fair value of its outstanding debt arrangement discussed in Note 8 “Revolving credit facilities and long-term debt” is not readily available, the Company believes its carrying value approximates fair value due to the variable interest rates, which are Level 2 inputs. There were no material financial assets or requiring fair value measurements as of March 29, 2025 on a recurring basis. |
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| Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents. At times, such amounts held at banks may be in excess of Federal Deposit Insurance Corporation insurance limits, and the Company mitigates such risk by utilizing multiple banks. |
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| Supplier Concentration Risk | Supplier Concentration Risk The Company purchases merchandise inventories from several hundred suppliers worldwide. Sales of products from the Company’s three largest suppliers totaled approximately 25% of net sales in fiscal 2025 and 24% of net sales in both fiscal 2024 and fiscal 2023. |
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| Recent Accounting Pronouncements | Recent Accounting Pronouncements In November 2024, the FASB issued Accounting Standards Update (“ASU”) No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures. This ASU requires additional disclosure of certain costs and expenses within the notes to the financial statements. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2026, with early adoption permitted. The amendments should be applied either prospectively or retrospectively. The Company is currently evaluating the impact of adoption on its financial disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires disaggregated information about an entity’s effective tax rate reconciliation, as well as information on income taxes paid. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. The amendments should be applied on a prospective basis, although retrospective application is permitted. The Company is currently evaluating the impact of adoption on its financial disclosures. Recently Adopted Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendment improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This ASU is applicable to the Company’s Annual Report on Form 10-K for fiscal 2025, and subsequent interim periods, with early application permitted. The Company adopted this ASU for its annual period ended March 29, 2025. |
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Summary of Significant Accounting Policies (Tables) |
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Mar. 29, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of estimated useful lives | The Company’s property and equipment are depreciated using the following estimated useful lives:
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| Customer Loyalty Program | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of the activity related to contracts with customers |
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| Gift Card Program | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of the activity related to contracts with customers |
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Segment Reporting (Tables) |
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| Segment Reporting | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of segment revenue, segment profit or loss, and significant expenses | The following table presents information about our segment revenue, segment profit or loss, and significant expenses (in thousands):
1 Merchandise cost of goods sold includes the cost of merchandise, inbound and outbound freight, obsolescence and shrinkage provisions, supplier allowances, and inventory acquisition-related costs. 2 Buying, occupancy, and distribution center expenses include store and distribution center occupancy costs (including rent, depreciation and utilities), occupancy-related taxes, and compensation costs for merchandise purchasing, exclusive brand design and development and distribution center personnel. For consolidated depreciation expense see Note 5: Property and Equipment, Net. 3 Selling expenses include all store-level salaries and hourly labor costs, store overhead, and other operating costs, including advertising, pay-per-click, marketing campaigns, operating supplies, repairs and maintenance, credit card fees and costs of third-party services. 4 Includes corporate compensation and benefits, travel expenses, corporate occupancy costs, stock compensation costs, legal and professional fees, insurance, and other related corporate costs. 5 Includes interest expense, other income/(loss) and income tax expense. |
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| Schedule of disaggregated revenue | The Company disaggregates net sales into the following major merchandise categories:
The Company also disaggregates net sales between stores and e-commerce:
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Prepaid Expenses and Other Current Assets (Tables) |
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Mar. 29, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Schedule of prepaid expenses and other current assets | Prepaid expenses and other current assets consisted of the following (in thousands):
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Property and Equipment, Net (Tables) |
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| Schedule of property and equipment, net | Property and equipment, net, consisted of the following (in thousands):
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Goodwill and Intangible Assets, Net (Tables) |
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| Schedule of net finite-lived intangible assets | Net intangible assets consisted of the following:
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| Schedule of net indefinite-lived intangible assets | Net intangible assets consisted of the following:
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Accrued Expenses and Other Current Liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 29, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued Expenses and Other Current Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of accrued expenses and other current liabilities | Accrued expenses and other current liabilities consisted of the following (in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 29, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of stock option activity | The following table summarizes the stock award activity for the fiscal year ended March 29, 2025:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of non-vested stock options | A summary of the status of non-vested stock options as of March 29, 2025 and changes during fiscal 2025 is presented below:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of non-vested RSUs | A summary of the status of non-vested RSUs as of March 29, 2025 and changes during fiscal 2025 is presented below:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of non-vested PSUs | A summary of the status of non-vested PSUs as of March 29, 2025 and changes during fiscal 2025 is presented below:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of stock-based compensation expense by award-type | A summary of stock-based compensation expense by award-type is presented below:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of of unamortized stock-based compensation expense and the weighted-average remaining recognition period | A summary of unamortized stock-based compensation expense and the weighted-average remaining recognition period of awards granted under the Company’s stock-based compensation plans as of March 29, 2025 is presented below:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CEO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of assumptions used to determine fair value of stock options | The following significant assumptions were used as of May 12, 2022, the date of grant:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 29, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of ROU assets and liabilities | ROU assets and lease liabilities as of March 29, 2025 and March 30, 2024 consist of the following (in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of total lease cost |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of future operating lease payments | The following table summarizes future lease payments as of March 29, 2025:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of future finance lease payments | The following table summarizes future lease payments as of March 29, 2025:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of supplemental lease information | The following table includes supplemental lease information:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 29, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of income tax expense (benefit) | Income tax expense consisted of the following:
|
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| Schedule of reconciliation between the Company's effective tax rate on income from operations and the statutory tax rate | The reconciliation between the Company’s effective tax rate on income from operations and the statutory tax rate is as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of significant components of the Company's net deferred tax assets (liabilities) | Deferred taxes reflect the net tax effects of the temporary differences between the carrying amount of assets and liabilities for financial reporting and the amount used for income tax purposes. Significant components of the Company’s net deferred tax liabilities as of March 29, 2025 and March 30, 2024 consisted of the following (in thousands):
|
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Earnings Per Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 29, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of the components of basic and diluted (loss)/earnings per share of common stock | The components of basic and diluted earnings per share of common stock, in aggregate, for fiscal 2025, 2024, and 2023 are as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Operations (Details) |
12 Months Ended | ||
|---|---|---|---|
|
Mar. 29, 2025
Vote
store
state
shares
|
Mar. 30, 2024
store
state
shares
|
Apr. 01, 2023
state
store
|
|
| Business Operations | |||
| Number of shares authorized | 100,000,000 | 100,000,000 | |
| Number of shares outstanding | 30,594,094 | 30,343,690 | |
| Number of votes per common share | Vote | 1 | ||
| Number of stores | store | 459 | 400 | 345 |
| Number of states in which the Company operates | state | 49 | 45 | 43 |
| Fiscal Year | |||
| Fiscal year period | 364 days | 364 days | 371 days |
Summary of Significant Accounting Policies - Reporting Segment and Accounts Receivable (Details) $ in Millions |
12 Months Ended | |
|---|---|---|
|
Mar. 29, 2025
USD ($)
segment
item
|
Mar. 30, 2024
USD ($)
|
|
| Segment Reporting | ||
| Operating segments | 1 | |
| Reportable segments | 1 | |
| Number of reporting units | item | 1 | |
| Accounts Receivable | ||
| Allowance for credit losses | $ | $ 0.6 | $ 0.6 |
Summary of Significant Accounting Policies - Useful Lives of Property and Equipment (Details) |
Mar. 29, 2025 |
|---|---|
| Minimum | |
| Property and Equipment, Net | |
| Useful life | 1 year |
| Maximum | |
| Property and Equipment, Net | |
| Useful life | 10 years |
| Machinery and equipment | |
| Property and Equipment, Net | |
| Useful life | 5 years |
| Furniture and fixtures | |
| Property and Equipment, Net | |
| Useful life | 7 years |
| Software | |
| Property and Equipment, Net | |
| Useful life | 5 years |
| Vehicles | |
| Property and Equipment, Net | |
| Useful life | 5 years |
| Leasehold improvements | Minimum | |
| Property and Equipment, Net | |
| Useful life | 1 year |
| Leasehold improvements | Maximum | |
| Property and Equipment, Net | |
| Useful life | 10 years |
Summary of Significant Accounting Policies - Sales Returns Reserve (Details) - USD ($) $ in Thousands |
Mar. 29, 2025 |
Mar. 30, 2024 |
|---|---|---|
| Sales Returns Reserve | ||
| Unearned revenue | $ 30,718 | $ 26,378 |
| Allowance for Sales Returns | ||
| Sales Returns Reserve | ||
| Unearned revenue | $ 8,800 | $ 7,500 |
Summary of Significant Accounting Policies - Customer Loyalty Program (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Customer Loyalty Program | |||
| Unearned revenue | $ 30,718 | $ 26,378 | |
| Reconciliation of Activity in Program | |||
| Beginning balance | 26,378 | ||
| Ending balance | $ 30,718 | 26,378 | |
| Customer Loyalty Program | |||
| Customer Loyalty Program | |||
| Number of days in which customers must make a qualifying purchase in order to maintain an active point balance | 365 days | ||
| Number of days from award grant date in which the customer has to make a qualifying purchase to redeem the awards | 60 days | ||
| Unearned revenue | $ 6,168 | 5,050 | $ 4,145 |
| Reconciliation of Activity in Program | |||
| Beginning balance | 5,050 | 4,145 | 3,504 |
| Year-to-date provisions | 20,149 | 17,694 | 18,731 |
| Year-to-date award redemptions | (19,031) | (16,789) | (18,090) |
| Ending balance | $ 6,168 | $ 5,050 | $ 4,145 |
Summary of Significant Accounting Policies - Gift Card Program (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Reconciliation of Activity in Program | |||
| Beginning balance | $ 26,378 | ||
| Ending balance | 30,718 | $ 26,378 | |
| Gift Card Program | |||
| Reconciliation of Activity in Program | |||
| Beginning balance | 23,649 | 19,855 | $ 15,392 |
| Year-to-date issued | 50,180 | 44,193 | 42,117 |
| Year-to-date redemptions | (44,581) | (39,533) | (36,787) |
| Current year breakage and escheatment | (963) | (866) | (867) |
| Ending balance | $ 28,285 | $ 23,649 | $ 19,855 |
Summary of Significant Accounting Policies - Additional Disclosures (Details) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
|
Mar. 29, 2025
USD ($)
item
|
Mar. 30, 2024
USD ($)
item
|
Apr. 01, 2023
USD ($)
item
|
|
| Advertising Costs | |||
| Prepaid advertising | $ 2,223 | $ 2,398 | |
| Advertising expense | 50,500 | 44,000 | $ 40,700 |
| Income Taxes | |||
| Accrued interest and penalties | 0 | $ 0 | $ 0 |
| Fair Value of Certain Financial Assets and Liabilities | |||
| Financial assets requiring fair value measurements on a recurring basis | 0 | ||
| Financial liabilities requiring fair value measurements on a recurring basis | $ 0 | ||
| Supplier Concentration Risk | Sales from Suppliers | Three Largest Suppliers | |||
| Supplier Concentration Risk | |||
| Number of largest suppliers | item | 3 | 3 | 3 |
| Concentration risk percentage | 25.00% | 24.00% | 24.00% |
Segment Reporting - Segment Information (Details) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
|
Mar. 29, 2025
USD ($)
segment
|
Mar. 30, 2024
USD ($)
|
Apr. 01, 2023
USD ($)
|
|
| Segment Reporting | |||
| Operating segments | segment | 1 | ||
| Reportable segments | segment | 1 | ||
| Segment revenue, segment profit or loss, and significant expenses | |||
| Net sales | $ 1,911,104 | $ 1,667,009 | $ 1,657,615 |
| Type of Revenue | us-gaap:ProductMember | us-gaap:ProductMember | us-gaap:ProductMember |
| Less: | |||
| Gross Profit | $ 717,038 | $ 614,424 | $ 610,572 |
| Income from operations | 239,352 | 198,214 | 231,787 |
| Net income | 180,942 | 146,996 | 170,553 |
| Company's One Reportable Operating Segment | |||
| Segment revenue, segment profit or loss, and significant expenses | |||
| Net sales | $ 1,911,104 | $ 1,667,009 | $ 1,657,615 |
| Type of Revenue | us-gaap:ProductMember | us-gaap:ProductMember | us-gaap:ProductMember |
| Less: | |||
| Merchandise cost of goods sold | $ 954,476 | $ 854,128 | $ 876,571 |
| Buying, occupancy, and distribution center expenses | 239,590 | 198,457 | 170,472 |
| Gross Profit | 717,038 | 614,424 | 610,572 |
| Selling expenses | 349,649 | 303,555 | 281,857 |
| Other general and administrative expenses | 128,037 | 112,655 | 96,928 |
| Income from operations | 239,352 | 198,214 | 231,787 |
| Other segment expenses5 | 58,410 | 51,218 | 61,234 |
| Net income | $ 180,942 | $ 146,996 | $ 170,553 |
Segment Reporting - Disaggregated Revenue (Details) |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Disaggregation Of Revenue | |||
| Net sales percentage | 100.00% | 100.00% | 100.00% |
| Stores | |||
| Disaggregation Of Revenue | |||
| Net sales percentage | 90.00% | 89.00% | 87.00% |
| E-commerce | |||
| Disaggregation Of Revenue | |||
| Net sales percentage | 10.00% | 11.00% | 13.00% |
| Footwear | |||
| Disaggregation Of Revenue | |||
| Net sales percentage | 47.00% | 47.00% | 47.00% |
| Apparel | |||
| Disaggregation Of Revenue | |||
| Net sales percentage | 37.00% | 36.00% | 37.00% |
| Hats, accessories and other | |||
| Disaggregation Of Revenue | |||
| Net sales percentage | 16.00% | 17.00% | 16.00% |
Segment Reporting - Geographic Information (Details) |
12 Months Ended |
|---|---|
Mar. 29, 2025 | |
| Revenue | Geographic Concentration | Customers Outside the United States | |
| Geographic Information | |
| Percentage of net sales | 0.40% |
Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands |
Mar. 29, 2025 |
Mar. 30, 2024 |
|---|---|---|
| Prepaid Expenses and Other Current Assets | ||
| Prepaid advertising | $ 2,223 | $ 2,398 |
| Prepaid insurance | 2,616 | 2,549 |
| Income tax receivable | 8,401 | 10,268 |
| Returns allowance | 3,948 | 3,444 |
| Prepaid merchandise | 12,000 | 18,989 |
| Other | 7,548 | 7,070 |
| Total prepaid expenses and other current assets | $ 36,736 | $ 44,718 |
Property and Equipment, Net (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Property and Equipment, Net | |||
| Property and equipment, gross | $ 668,553 | $ 509,775 | |
| Less: Accumulated depreciation | (246,474) | (186,108) | |
| Property and equipment, net | 422,079 | 323,667 | |
| Depreciation | 62,462 | 49,531 | $ 35,883 |
| Leasehold improvements | |||
| Property and Equipment, Net | |||
| Property and equipment, gross | 279,683 | 211,508 | |
| Machinery and equipment | |||
| Property and Equipment, Net | |||
| Property and equipment, gross | 86,812 | 70,845 | |
| Furniture and fixtures | |||
| Property and Equipment, Net | |||
| Property and equipment, gross | 232,842 | 196,478 | |
| Construction in progress | |||
| Property and Equipment, Net | |||
| Property and equipment, gross | 65,280 | 27,743 | |
| Vehicles | |||
| Property and Equipment, Net | |||
| Property and equipment, gross | $ 3,936 | $ 3,201 | |
Goodwill and Intangible Assets, Net - Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Goodwill and Intangible Assets, Net | |||
| Goodwill | $ 197,502 | $ 197,502 | |
| Changes in carrying amount of goodwill | |||
| Changes to the carrying amount of goodwill during the year | $ 0 | $ 0 | $ 0 |
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands |
Mar. 29, 2025 |
Mar. 30, 2024 |
|---|---|---|
| Accrued Expenses and Other Current Liabilities | ||
| Accrued compensation | $ 33,188 | $ 26,033 |
| Deferred revenue | 30,718 | 26,378 |
| Sales tax liability | 16,044 | 13,472 |
| Accrued occupancy expense | 4,695 | 5,909 |
| Accrued interest | 158 | 161 |
| Sales reward redemption liability | 6,168 | 5,050 |
| Accrued expenses | 18,613 | 15,722 |
| Accrued property and equipment | 22,402 | 11,448 |
| Sales returns reserve | 8,786 | 7,549 |
| Other | 5,266 | 4,755 |
| Total accrued expenses and other current liabilities | $ 146,038 | $ 116,477 |
Stock-Based Compensation - Non-vested Options (Details) - $ / shares |
12 Months Ended | |
|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Shares | ||
| Granted | 0 | 0 |
| Employee Stock Option | ||
| Shares | ||
| Non-vested at beginning of period | 154,487 | |
| Vested | (68,298) | |
| Non-vested shares forfeited | (86,189) | |
| Non-vested at end of period | 154,487 | |
| Weighted-Average Grant Date Fair Value | ||
| Non-vested at beginning of period | $ 30.63 | |
| Vested | 10.71 | |
| Non-vested shares forfeited | $ 46.41 | |
| Non-vested at end of period | $ 30.63 | |
Stock-Based Compensation - Non-vested RSUs (Details) - 2020 Plan - Restricted Stock Units - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Shares | |||
| Non-vested awards outstanding at beginning of period (in shares) | 247,596 | ||
| Granted (in shares) | 109,013 | 132,713 | 94,262 |
| Vested (in shares) | (127,809) | ||
| Forfeited (in shares) | (56,609) | ||
| Non-vested awards outstanding at end of period (in shares) | 172,191 | 247,596 | |
| Weighted Average Fair Value | |||
| Non-vested awards outstanding at beginning of period (in dollars per share) | $ 64.96 | ||
| Granted (in dollars per share) | 114.7 | ||
| Vested (in dollars per share) | 58.86 | ||
| Forfeited (in dollars per share) | 88.96 | ||
| Non-vested awards outstanding at end of period (in dollars per share) | $ 93.1 | $ 64.96 | |
Stock-Based Compensation - Non-vested PSUs (Details) - 2020 Plan - Performance share units - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Shares | |||
| Non-vested awards outstanding at beginning of period (in shares) | 202,996 | ||
| Granted (in shares) | 61,530 | 112,740 | 57,843 |
| Target Award Adjustment (in shares) | 32,413 | ||
| Vested (in shares) | (64,826) | ||
| Forfeited (in shares) | (93,043) | ||
| Non-vested awards outstanding at end of period (in shares) | 139,070 | 202,996 | |
| Weighted Average Fair Value | |||
| Non-vested awards outstanding at beginning of period (in dollars per share) | $ 73.26 | ||
| Granted (in dollars per share) | 111.69 | ||
| Target Award Adjustment (in dollars per share) | 78.32 | ||
| Vested (in dollars per share) | 78.32 | ||
| Forfeited (in dollars per share) | 82.38 | ||
| Non-vested awards outstanding at end of period (in dollars per share) | $ 82.98 | $ 73.26 | |
Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Stock-Based Compensation | |||
| Total stock-based compensation expense, before tax | $ 10,977 | $ 12,935 | $ 9,711 |
| Income tax benefit | (3,654) | (2,686) | (1,828) |
| Total stock based-compensation expense, after tax | 7,323 | 10,249 | 7,883 |
| Employee Stock Option | |||
| Stock-Based Compensation | |||
| Total stock-based compensation expense, before tax | (2,436) | 1,817 | 2,639 |
| Income tax benefit | (700) | (1,200) | (700) |
| Restricted Stock Units | |||
| Stock-Based Compensation | |||
| Total stock-based compensation expense, before tax | 7,991 | 7,203 | 5,914 |
| Performance share units | |||
| Stock-Based Compensation | |||
| Total stock-based compensation expense, before tax | $ 5,422 | $ 3,915 | $ 1,158 |
Stock-Based Compensation - Unamortized Stock-based Compensation Expense (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Mar. 29, 2025
USD ($)
| |
| Restricted Stock Units | |
| Stock-Based Compensation | |
| Unamortized compensation expense | $ 7,281 |
| Weighted-average remaining recognition period | 1 year 8 months 12 days |
| Performance share units | |
| Stock-Based Compensation | |
| Unamortized compensation expense | $ 5,527 |
| Weighted-average remaining recognition period | 1 year 10 months 20 days |
Leases - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Leases | |||
| Lessee, Operating Lease, Existence of Option to Extend [true false] | true | ||
| Operating lease renewal term | 5 years | ||
| ROU asset impairment charge | $ 0.0 | $ 0.0 | $ 0.0 |
| Minimum | |||
| Leases | |||
| Operating lease term | 5 years | ||
| Maximum | |||
| Leases | |||
| Operating lease term | 10 years | ||
Leases - Lease cost (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Lease cost | |||
| Amortization of right-of-use assets | $ 748 | $ 805 | $ 886 |
| Interest on lease liabilities | 634 | 672 | 713 |
| Total finance lease cost | 1,382 | 1,477 | 1,599 |
| Operating lease cost | 91,599 | 73,577 | 61,600 |
| Short-term lease cost | 4,539 | 4,403 | 5,085 |
| Variable lease cost | 31,433 | 23,920 | 22,305 |
| Total lease cost | $ 128,953 | $ 103,377 | $ 90,589 |
Leases - Future lease payments (Details) $ in Thousands |
Mar. 29, 2025
USD ($)
|
|---|---|
| Operating Leases | |
| 2026 | $ 83,082 |
| 2027 | 105,275 |
| 2028 | 96,078 |
| 2029 | 88,666 |
| 2030 | 80,156 |
| Thereafter | 255,456 |
| Total | 708,713 |
| Less: Imputed interest | (160,098) |
| Present value of net lease payments | $ 548,615 |
| Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Finance and Operating Lease, Liability, Current, Finance and Operating Lease, Liability, Noncurrent |
| Finance Leases | |
| 2026 | $ 1,552 |
| 2027 | 1,590 |
| 2028 | 1,629 |
| 2029 | 1,669 |
| 2030 | 1,709 |
| Thereafter | 9,517 |
| Total | 17,666 |
| Less: Imputed interest | (3,238) |
| Present value of net lease payments | $ 14,428 |
| Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Finance and Operating Lease, Liability, Current, Finance and Operating Lease, Liability, Noncurrent |
| Leases Signed but not yet Commenced | |
| Minimum lease commitment for operating leases signed but not yet commenced | $ 115,200 |
Leases - Supplemental lease information (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Supplemental Lease Information | ||
| Operating cash flows used for operating leases | $ 99,782 | $ 77,270 |
| Operating cash flows used for finance leases | 624 | 663 |
| Financing cash flows used for finance leases | 891 | 880 |
| Cash paid for amounts included in the measurement of lease liabilities | 101,297 | 78,813 |
| Lease liabilities arising from new right-of-use assets-Operating leases | $ 145,954 | $ 119,026 |
| Weighted average remaining lease term (in years)-Operating leases | 7 years 9 months 18 days | 7 years 10 months 24 days |
| Weighted average remaining lease term (in years)-Finance leases | 10 years 4 months 24 days | 11 years 4 months 24 days |
| Weighted average discount rate-Operating leases | 5.20% | 5.00% |
| Weighted average discount rate-Finance leases | 10.90% | 10.90% |
Defined Contribution Plan (Details) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Mar. 29, 2025
USD ($)
item
|
Mar. 30, 2024
USD ($)
|
Apr. 01, 2023
USD ($)
|
|
| Defined Contribution Plan | |||
| Minimum number of hours required for eligibility | item | 1,000 | ||
| Plan contributions and plan costs | $ | $ 2.5 | $ 2.3 | $ 2.1 |
| First 3% | |||
| Defined Contribution Plan | |||
| Percentage of employer match | 100.00% | ||
| Percentage of employee gross pay for which employer contributes a full matching contribution | 3.00% | ||
| Next 2% | |||
| Defined Contribution Plan | |||
| Percentage of employer match | 50.00% | ||
| Percentage of employee gross pay for which employer contributes a full matching contribution | 5.00% | ||
Related Party Transactions (Details) - Related Party - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Floor & Decor Holdings, Inc | |||
| Related Party Transactions | |||
| Capital expenditures related to specialty retail vendor | $ 0.1 | ||
| Floor & Decor Holdings, Inc | Maximum | |||
| Related Party Transactions | |||
| Capital expenditures related to specialty retail vendor | $ 0.1 | $ 0.1 | |
| John Grijalva | |||
| Related Party Transactions | |||
| Merchandise purchased | 32.8 | 45.0 | |
| Commissions paid on sales | $ 2.5 | $ 2.2 | $ 3.2 |
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
Apr. 01, 2023 |
|
| Earnings Per Share | |||
| Net Income (Loss) | $ 180,942 | $ 146,996 | $ 170,553 |
| Weighted average basic shares outstanding | 30,524,000 | 30,167,000 | 29,805,000 |
| Dilutive effect of options and restricted stock | 249,000 | 444,000 | 565,000 |
| Weighted average diluted shares outstanding | 30,773,000 | 30,611,000 | 30,370,000 |
| Basic earnings per share | $ 5.93 | $ 4.87 | $ 5.72 |
| Diluted earnings per share | $ 5.88 | $ 4.8 | $ 5.62 |
| Shares that were not included in the computation of weighted average diluted common shares amounts | 0 | 86,882 | 198,511 |
Subsequent Events (Details) $ in Millions |
May 08, 2025
USD ($)
|
May 05, 2025
employee
|
Mar. 29, 2025
employee
|
|---|---|---|---|
| Subsequent Events | |||
| Number of directors on the Board | 7 | ||
| Subsequent Event | |||
| Subsequent Events | |||
| Number of directors on the Board | 8 | ||
| Authorized repurchase amount | $ | $ 200 |