Burlington Stores, Inc. (BURL) has reported impressive fourth-quarter fiscal 2023 results, wherein sales and earnings beat the Zacks Consensus Estimate. Also, both top and bottom lines grew year over year.Insight Into the HeadlinesBurlington Stores has reported adjusted earnings of $3.66 per share, surpassing the Zacks Consensus Estimate of earnings of $3.28. The bottom line rose 23.6% from $2.96 in the year-ago quarter.Total revenues of $3,126.4 million beat the Zacks Consensus Estimate of $3,039 million a ...

Financial Data and Key Metrics Changes - In Q4, the company achieved a comp store sales increase of 2% on a 13-week basis, exceeding guidance of -2% to flat [28] - Total sales growth for the quarter was 9%, higher than the guidance of 5% to 7%, driven by higher comp store sales and the addition of $138 million from the 53rd week [42] - For the full year 2023, total sales grew by 10%, with comp growth of 4%, aligning with the original guidance of 3% to 5% [32][47] - Adjusted EPS in Q4 was $3.69, significantly above the guidance range of $3.10 to $3.25 [14] - The adjusted EBIT margin for Q4 was 11.1%, 110 basis points higher than the previous year, exceeding guidance [44] Business Line Data and Key Metrics Changes - The company opened 80 net new stores in 2023, with a total of 1,007 stores at the end of Q4 [6][32] - Comp sales growth for the full year was driven by a mix of recognizable brands and strong performance in holiday categories [30] - Clearance merchandise comp selling was down double digits, but regular priced merchandise comp sales were up 4% [31] Market Data and Key Metrics Changes - The lower-income customer segment showed improvement, responding well to value offerings, which helped underpin comp growth in Q4 [29] - The company noted that trade-down shoppers, particularly higher-income customers, contributed to comp growth [30][96] Company Strategy and Development Direction - The company aims for total sales growth of 9% to 11% in 2024, driven by 100 net new stores and comp growth of 0% to 2% [7][48] - The long-term goal is to grow total sales to approximately $16 billion and operating income to about $1.6 billion over the next five years [39][79] - The company plans to open approximately 140 gross new stores in 2024, with a focus on high-quality locations [65][91] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the economic outlook for 2024, citing uncertainty in consumer behavior and external factors [4][82] - The company is optimistic about the long-term growth potential, particularly in the off-price retail sector, and plans to enhance execution strategies [69][125] - Management acknowledged the need to offer stronger values to attract trade-down shoppers and improve overall performance [11][78] Other Important Information - The company ended Q4 with approximately $1.6 billion in total liquidity, including $925 million in cash [45] - Share repurchases totaled $103 million in Q4, with $500 million remaining on the buyback authorization [46][132] - The gross margin rate for Q4 was 42.6%, an increase of 190 basis points compared to last year, driven by lower markdowns and freight expenses [71] Q&A Session Summary Question: Can you elaborate on the rationale behind your 2024 comp sales guidance? - Management indicated that the guidance is based on a cautious approach, allowing flexibility to react to market conditions, with a historical average comp growth target of mid-single digits over the next five years [52][54] Question: What are the drivers of margin improvement in 2024? - The primary drivers include higher merchandise margins, lower freight expenses, and supply chain efficiencies, with expectations of EBIT margin expansion of 10 to 50 basis points [85][115] Question: How do department store closures impact your business? - Management noted that closures of brick-and-mortar competitors typically benefit the company by increasing traffic, although the impact varies by retailer and location [145] Question: What is the outlook for the low-income consumer? - Management believes the situation for low-income consumers has improved compared to last year, but recovery will take time due to ongoing inflationary pressures [147]

For the quarter ended January 2024, Burlington Stores (BURL) reported revenue of $3.13 billion, up 13.9% over the same period last year. EPS came in at $3.66, compared to $2.96 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.04 billion, representing a surprise of +2.88%. The company delivered an EPS surprise of +11.59%, with the consensus EPS estimate being $3.28.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- an ...

Burlington Stores (BURL) came out with quarterly earnings of $3.66 per share, beating the Zacks Consensus Estimate of $3.28 per share. This compares to earnings of $2.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.59%. A quarter ago, it was expected that this discount retailer would post earnings of $0.99 per share when it actually produced earnings of $0.98, delivering a surprise of -1.01%.Over the last four quarters, ...

On a GAAP 14-week basis, total sales increased 14%, net income was $227 million, and diluted EPS was $3.53On a non-GAAP 13-week basis, excluding certain expenses associated with the acquisition of Bed Bath & Beyond leases (as applicable): Comparable store sales increased 2%, ahead of guidance for -2% to 0%Adjusted EBIT margin increased 110 basis points, well over guidance for an increase of 0 to 40 basis pointsAdjusted EPS increased 25% to $3.69, well above guidance of $3.10 to $3.25 On a GAAP 53-week basis ...

Sales Performance - Total sales increased 14% on a 14-week basis to $3,121 million, with comparable store sales up 2%[10] - Total sales increased by 10% on a 13-week basis, with comparable store sales growing by 2% and adjusted EPS increasing by 25%[43] - On a GAAP 53-week basis, total sales increased by 12%, net income was $340 million, and diluted EPS was $5.23[50] - Net sales for Fiscal 2023 reached $9.7 billion, solidifying the company's position as a Fortune 500 retailer[31] Earnings and Profitability - Adjusted EPS for FY24 is projected to be $7.00-$7.60, representing a 12% to 22% increase over FY23[1] - Net income for the fourth quarter was $227 million, with diluted EPS of $3.53 on a 14-week basis[10] - Adjusted Net Income increased 44% to $405 million on a 52-week basis, with Adjusted EPS up 46% to $6.24[4] - Net income for Fiscal Year 2024 (53 weeks) increased to $339.6 million, up from $230.1 million in the previous year[23] - Adjusted EPS for Q1 Fiscal 2024 is forecasted to be in the range of $0.95 to $1.10, compared to $0.84 in the previous year[30] - Net income for the 14 weeks ended February 3, 2024 was $227.458 million, compared to $185.200 million for the same period in 2023[40] - Adjusted Net Income for the 14 weeks ended February 3, 2024 was $235.682 million, compared to $193.739 million for the same period in 2023[40] EBIT and EBITDA Margins - Adjusted EBIT margin increased 110 basis points, exceeding guidance of 0 to 40 basis points[9] - Adjusted EBIT margin for FY24 is expected to increase by 10 to 50 basis points, excluding $9 million in anticipated expenses related to Bed Bath & Beyond leases[14] - Adjusted EBIT margin is projected to increase by 20 to 60 basis points in Q1 Fiscal 2024, excluding $8 million in expenses related to acquired Bed Bath & Beyond leases[30] - Adjusted operating margin expanded by 110 basis points in the fourth quarter[43] - Adjusted EBIT for the 14 weeks ended February 3, 2024 was $327.099 million, compared to $273.664 million for the same period in 2023[47] - Adjusted EBITDA for the 14 weeks ended February 3, 2024 was $414.414 million, compared to $342.155 million for the same period in 2023[47] - Adjusted EBITDA excludes items such as interest expense, income tax expense, and depreciation and amortization, among others[38] Inventory and Liquidity - Merchandise inventories decreased 5% year-over-year to $1,088 million at the end of Fiscal 2023[12] - The company ended Q4 with $1,634 million in liquidity, including $925 million in unrestricted cash[5] - Merchandise inventories decreased to $1.09 billion from $1.18 billion year-over-year[35] Store Operations and Expansion - The company plans to open approximately 100 net new stores in Fiscal 2024[14] - The company operated 1,007 stores across 46 states, Washington D.C., and Puerto Rico as of the end of Fiscal 2023[31] Cash Flow and Share Repurchases - Net cash provided by operating activities rose to $868.7 million, compared to $596.4 million in the prior year[23] - The company repurchased 605,311 shares of common stock for $103 million in Q4 2023[6] Tax and Share Metrics - Adjusted Effective Tax Rate for the 14 weeks ended February 3, 2024 was 25.7%, compared to 25.3% for the same period in 2023[48] - Diluted weighted average shares outstanding for the 14 weeks ended February 3, 2024 was 64,425, compared to 65,385 for the same period in 2023[40] SG&A Expenses - Adjusted SG&A for the 14 weeks ended February 3, 2024 was $716.894 million, compared to $593.244 million for the same period in 2023[41] Assets and Financial Position - Total assets increased to $7.7 billion as of February 3, 2024, up from $7.3 billion at the end of the previous fiscal year[35]

Investors are always looking for stocks that are poised to beat at earnings season and Burlington Stores, Inc. (BURL) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Burlington Stores is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a ...

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Wall Street analysts expect Burlington Stores (BURL) to post quarterly earnings of $3.27 per share in its upcoming report, which indicates a year-over-year increase of 10.5%. Revenues are expected to be $3.03 billion, up 10.3% from the year-ago quarter.The consensus EPS estimate for the quarter has undergone an upward revision of 0.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Bef ...

Burlington Stores, Inc. (BURL) is likely to register an increase in the top line when it reports fourth-quarter fiscal 2023 earnings on Mar 7 before market open. The Zacks Consensus Estimate for revenues stands at $3.01 billion, indicating a rise of 9.7% from the prior-year reported figure.The bottom line of this off-price retailer of high-quality, branded apparel at everyday low prices is expected to increase year over year. The Zacks Consensus Estimate for fourth-quarter earnings per share, which has rise ...