Exhibit 99.1

Boot Barn Holdings, Inc. Announces Second Quarter Fiscal Year 2017 Financial Results; Updates Fiscal Year 2017 Outlook

IRVINE, Calif.--(BUSINESS WIRE)--October 26, 2016--Highlights for the quarter ended September 24, 2016, were as follows:

• Net sales increased 3.3% to $134.0 million.
• Consolidated same store sales increased 1.8%.
• Net income was $0.5 million, or $0.02 per diluted share, compared to a net loss of $3.3 million, or $0.13 per diluted share (and compared to adjusted net income of $1.2 million, or $0.04 per diluted share) in the prior-year period.
• The Company opened two new stores.

Jim Conroy, Chief Executive Officer, commented, “I am pleased with our financial performance during the second quarter, in which we grew net sales, achieved positive same store sales and reported diluted earnings per share of $0.02, which met our expectations for the quarter. We believe our positive same store sales reflect the strength of the Boot Barn brand as well as the strategies we put in place to mitigate external pressures in oil and commodity driven markets. While this pressure has not abated, and consumer retail trends remain variable, we are optimistic about the second half of the year. Our new merchandise categories and product offerings are resonating well with our customers and we believe we have appropriately invested in the right level and composition of inventory. We remain committed to prudently investing in our business as we continue to grow our leading market share of the western and work wear markets across our channels.”

Operating Results for the Second Quarter Ended September 24, 2016

• Net sales increased 3.3% to $134.0 million from $129.7 million in the prior-year period. Net sales increased due to 13 new stores opened over the past twelve months and a 1.8% increase in same store sales. Sales growth was partially offset by the planned closure of eight stores over the last 15 months, including six low-volume Sheplers stores that were closed consistent with original expectations.
• Gross profit increased 1.6% to $36.4 million, or 27.2% of net sales, compared to gross profit of $35.9 million, or 27.7% of net sales, in the prior-year period. Excluding the amortization of inventory fair value adjustment, acquisition-related integration costs, and contract termination costs, adjusted gross profit in the prior-year period was $38.4 million or 29.6% of net sales. The decline in gross profit rate compared to the prior year’s adjusted gross profit rate resulted primarily from increases in store occupancy costs associated with the 13 new stores opened during the last 12 months and additional depreciation expense from the rebranded Sheplers stores that was not included in the prior-year period. Also contributing to the decline in gross profit rate was an 80 basis point decline in the merchandise margin rate, resulting from higher loyalty rewards redemption, shrink and aged inventory provision.

• Income from operations increased $4.8 million to $4.4 million, compared to a loss from operations of $0.4 million in the prior-year period. Excluding the amortization of inventory fair value adjustment, acquisition-related integration costs, and loss on disposal of assets and contract termination costs, adjusted income from operations in the prior-year period was $5.8 million.
• The Company opened two new stores and ended the quarter with 212 stores in 29 states.
• Interest expense decreased $1.3 million to $3.7 million from $5.0 million in the prior-year period. Excluding a $1.4 million write-off of debt issuance costs associated with the refinancing of debt, adjusted interest expense was $3.6 million in the prior-year period.
• Net income was $0.5 million, or $0.02 per diluted share, compared to a net loss of $3.3 million or $0.13 per diluted share in the prior-year period. Excluding the amortization of inventory fair value adjustment, acquisition-related integration costs, loss on disposal of assets and contract termination costs, and write-off of debt issuance costs associated with the refinancing of debt, adjusted net income in the second quarter of the prior year was $1.2 million, or $0.04 per diluted share.

Operating Results for the Six Months Ended September 24, 2016

• Net sales increased 18.5% to $267.4 million from $225.7 million in the prior-year period. Net sales increased due to six months of sales contributions from Sheplers (compared to three months in the prior-year period), the opening of 13 new stores between the beginning of the third quarter of fiscal 2016 and the end of the second quarter of fiscal 2017 and a 1.1% increase in consolidated same store sales. Sales growth was partially offset by the planned closure of eight stores over the last 15 months, including six low-volume Sheplers stores that were closed consistent with original expectations.
• Gross profit increased 15.8% to $77.2 million, or 28.9% of net sales, compared to gross profit of $66.7 million, or 29.5% of net sales, in the prior-year period. Excluding the amortization of inventory fair value adjustment, acquisition-related integration costs, and contract termination costs, adjusted gross profit in the prior-year period was $69.2 million or 30.6% of net sales. The decline in gross profit rate compared to the prior year’s adjusted gross profit rate was primarily driven by the addition of six months of historically lower-margin Sheplers sales (compared to three months in the prior-year period).
• Income from operations increased $4.5 million to $8.9 million, compared to $4.4 million in the prior-year period. Excluding the amortization of inventory fair value adjustment, acquisition-related expenses and integration costs, and loss on disposal of assets and contract termination costs, adjusted income from operations in the prior-year period was $11.5 million. The decrease in income from operations compared to the prior year’s adjusted income from operations was driven primarily by additional expenses associated with Sheplers and higher expenses associated with new stores opened.
• The Company opened four new stores and ended the period with 212 stores in 29 states.
• Net income was $1.1 million, or $0.04 per diluted share, compared to a net loss of $1.1 million or $0.04 per diluted share in the prior-year period. Excluding the amortization of inventory fair value adjustment, acquisition-related expenses and integration costs, loss on disposal of assets and contract termination costs, and write-off of debt issuance costs associated with the refinancing of debt, adjusted net income in the prior-year period was $4.2 million or $0.16 per diluted share.

A reconciliation of adjusted gross profit, adjusted income from operations, adjusted net income and adjusted net income per diluted share, each a non-GAAP financial measure, to their most directly comparable GAAP financial measures is included in the accompanying financial data. Adjusted measures are not presented for the quarter and six months ended September 24, 2016 as there were no adjustments. See also "Non-GAAP Financial Measures."

Balance Sheet Highlights as of September 24, 2016

• Cash: $11.1 million
• Inventories: Average inventory per store was flat compared to September 26, 2015
• Total debt: $250.1 million
• Line of credit: $57.0 million outstanding on revolving credit facility

Fiscal Year 2017 Outlook

The Company is updating its guidance for the fiscal year ending April 1, 2017 and now expects:

• To open 15 new stores, including four opened in the first two quarters.
• Slightly positive consolidated same store sales.
• Income from operations between $43.7 million and $46.8 million.
• Net income of $17.7 million to $19.6 million.
• Net income per diluted share of $0.66 to $0.73 based on 26.9 million weighted average diluted shares outstanding, which includes $0.03 per diluted share attributed to the 53^rd week.

For the fiscal third quarter ending December 24, 2016 the Company expects:

• Slightly positive consolidated same store sales.
• Net income per diluted share of $0.38 to $0.43 based on 27.0 million weighted average diluted shares outstanding.

Conference Call Information

A conference call to discuss the financial results for the second quarter of fiscal year 2017 is scheduled for today, October 26, 2016, at 4:30 p.m. ET (1:30 p.m. PT). Investors and analysts interested in participating in the call are invited to dial (866) 393-4306. The conference call will also be available to interested parties through a live webcast at investor.bootbarn.com. Please visit the website and select the “Events and Presentations” link at least 15 minutes prior to the start of the call to register and download any necessary software. A telephone replay of the call will be available until November 28, 2016, by dialing (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering the conference identification number: 98295878. Please note participants must enter the conference identification number in order to access the replay.

About Boot Barn

Boot Barn is the nation’s leading lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company offers its loyal customer base a wide selection of work and lifestyle brands. Boot Barn now operates 214 stores in 29 states, in addition to an e-commerce channel www.bootbarn.com. The Company also operates www.sheplers.com, the nation’s leading pure play online western and work retailer. Sheplers has been part of the western, outdoor, and work lifestyle for over 100 years. For more information, call 888-Boot-Barn or visit www.bootbarn.com.

Non-GAAP Financial Measures

The Company presents adjusted gross profit, adjusted income from operations, adjusted net income and adjusted net income per diluted share to help the Company describe its operating and financial performance. These financial measures are non-GAAP financial measures and should not be construed in isolation or as an alternative to actual gross profit, actual income from operations, actual net income and actual earnings per diluted share and other income or cash flow statement data (as presented in the Company’s consolidated financial statements in accordance with generally accepted accounting principles in the United States, or GAAP), or as a better indicator of operating performance or as a measure of liquidity. These non-GAAP financial measures, as defined by the Company, may not be comparable to similar non-GAAP financial measures presented by other companies. The Company’s management believes that these non-GAAP financial measures provide investors with transparency and help illustrate financial results by excluding items that may not be indicative of, or are unrelated to, the Company’s core operating results, thereby providing a better baseline for analyzing trends in the underlying business. See the table at the end of this press release for a reconciliation of adjusted gross profit to gross profit, adjusted income from operations to income from operations, adjusted net income to net income, and adjusted net income per diluted share to net income per diluted share. In addition, see the table at the end of this press release for a presentation of EBITDA, as defined in our debt agreements, and a reconciliation of such Debt Covenant EBITDA to net income (loss).

Forward Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements refer to our current expectations and projections relating to, by way of example and without limitation, our financial condition, liquidity, profitability, results of operations, margins, plans, objectives, strategies, future performance, business and industry. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate", "estimate", "expect", "project", "plan“, "intend", "believe", “may”, “might”, “will”, “could”, “should”, “can have”, “likely”, “outlook” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events, but not all forward-looking statements contain these identifying words. These forward-looking statements are based on assumptions that the Company’s management has made in light of their industry experience and on their perceptions of historical trends, current conditions, expected future developments and other factors they believe are appropriate under the circumstances. As you consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond the Company’s control) and assumptions. These risks, uncertainties and assumptions include, but are not limited to, the following: decreases in consumer spending due to declines in consumer confidence, local economic conditions or changes in consumer preferences and the Company’s ability to effectively execute on its growth strategy; the failure to realize the anticipated synergies from the Sheplers acquisition and other risks of integration, to maintain and enhance its strong brand image; to compete effectively; to maintain good relationships with its key suppliers; and to improve and expand its exclusive product offerings. The Company discusses the foregoing risks and other risks in greater detail under the heading “Risk factors” in the periodic reports filed by the Company with the Securities and Exchange Commission. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. Because of these factors, the Company cautions that you should not place undue reliance on any of these forward-looking statements. New risks and uncertainties arise from time to time, and it is impossible for the Company to predict those events or how they may affect the Company. Further, any forward-looking statement speaks only as of the date on which it is made. Except as required by law, the Company does not intend to update or revise the forward-looking statements in this press release after the date of this press release.

The tables below reconcile the non-GAAP financial measures of adjusted gross profit, adjusted income from operations, adjusted net income, and adjusted diluted earnings per share, with the most directly comparable GAAP financial measures of gross profit, income from operations, net income, and diluted earnings per share.

CONTACT:
Investors:
ICR, Inc.
Anne Rakunas / Brendon Frey, 310-954-1113
BootBarnIR@icrinc.com
or
Media:
Boot Barn Media Relations
Jayme Maxwell, 949-453-4400 ext. 428
BootBarnIRMedia@bootbarn.com