Burlington Stores (BURL) Tops Q2 EPS by 25c, Offers Guidance

Burlington Stores (NYSE: BURL) reported Q2 EPS of $1.20, $0.25 better than the analyst estimate of $0.95. Revenue for the quarter came in at $2.46 billion versus the consensus estimate of $2.41 billion.

GUIDANCE:

Burlington Stores sees FY2025 EPS of $7.66-$7.96, versus the consensus of $7.69.

Burlington Stores sees Q3 2025 EPS of $1.45-$1.55, versus the consensus of $1.36.

Outlook
For the full Fiscal Year 2024 (the 52-weeks ending February 1, 2025), the Company now expects:

• Total sales to increase in the range of 9% to 10% on top of the 10% increase for the 52-weeks ended January 27, 2024; this assumes comparable store sales will increase in the range of 2% to 3%, on top of the 4% increase for the 52-weeks ended January 27, 2024;
• Capital expenditures, net of landlord allowances, to be approximately $750 million;
• To open approximately 100 net new stores;
• Depreciation and amortization to be approximately $350 million;
• Adjusted EBIT margin to increase in the range of 50 to 70 basis points versus the 52 weeks ended January 27, 2024; this Adjusted EBIT margin increase excludes approximately $9 million of expenses related to the acquired Bed Bath & Beyond leases in Fiscal 2024 versus $18 million incurred in Fiscal 2023;
• Net interest expense to be approximately $40 million;
• Adjusted Effective Tax Rate to be approximately 26%; and
• Adjusted EPS in the range of $7.66 to $7.96, which excludes $0.11, net of tax, of expenses, associated with the acquired Bed Bath & Beyond leases. This assumes a fully diluted share count of approximately 64 million shares.

For the third quarter of Fiscal 2024 (the 13 weeks ending November 2, 2024), the Company expects:

• Total sales to increase in the range of 10% to 12%; this assumes comparable store sales will increase in the range of 0% to 2% versus the third quarter of Fiscal 2023;
• Adjusted EBIT margin to increase in the range of 60 to 80 basis points versus the third quarter of Fiscal 2023;
• Adjusted Effective Tax Rate to be approximately 25%; and
• Adjusted EPS in the range of $1.45 to $1.55, as compared to $1.10 in Adjusted EPS last year; prior year period excludes $7 million, net of tax, of expenses related to the acquired Bed Bath & Beyond leases.

For earnings history and earnings-related data on Burlington Stores (BURL) click here.

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