Investment Recommendation - The analyst recommends a buy rating for Burlington Stores (NYSE: BURL) based on the expectation of a "beat and raise" performance in 3Q24 [1] - The investment is considered ideal if the company performs its core business in a sector projected to experience structural (organic) growth exceeding GDP growth over the next 5-10 years [1] - The company should profit from sustainable competitive advantages that translate into attractive unit economics [1] - The company should be managed by competent, ethical, and long-term thinkers with a fair valuation [1] Analyst's Position - The analyst has no stock, option, or similar derivative position in any of the companies mentioned and no plans to initiate any such positions within the next 72 hours [1] - The article expresses the analyst's own opinions and is not receiving compensation for it (other than from Seeking Alpha) [1] - The analyst has no business relationship with any company whose stock is mentioned in the article [1]

Burlington Stores, Inc. (NYSE:BURL) Q3 2024 Earnings Call Transcript November 26, 2024 8:30 AM ET Company Participants David Glick - SVP, IR and Treasurer Michael O'Sullivan - CEO Kristin Wolfe - EVP and CFO Conference Call Participants Matthew Boss - JPMorgan Ike Boruchow - Wells Fargo Lorraine Hutchinson - Bank of America John Kernan - TD Cowen Brooke Roach - Goldman Sachs Alex Straton - Morgan Stanley Operator Hello and welcome to the Burlington Stores, Inc. Third Quarter 2024 Earnings Webcast and Confer ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 2, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |---------------------------------------------------------------------------------------|-----------------------------------------------|------------------------------ ...

BURLINGTON, N.J., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Burlington Stores, Inc. (NYSE: BURL), a nationally recognized off-price retailer of high-quality, branded apparel, footwear, accessories, and merchandise for the home at everyday low prices, announced today that Shira Goodman, former Chief Executive Officer of Staples, Inc., is joining its Board of Directors and its Audit Committee effective January 1, 2025. John Mahoney, Chairman of the Board, stated, “We are very pleased to welcome Shira to our Board as ...

Burlington Stores, Inc. (BURL) has reported third-quarter fiscal 2024 results, wherein sales lagged the Zacks Consensus Estimate and earnings beat the same. Also, top and bottom lines grew year over year. The company saw strong early third-quarter performance, but warmer weather in mid-September slowed sales momentum, particularly in cold-weather categories. Excluding these, comparable sales showed consistent growth with recent trends. Effective inventory and liquidity management drove improved margins and ...

A warmer-than-normal autumn wasn’t enough to stall sales growth for Burlington Stores.The off-price clothing retailer posted earnings Tuesday (Nov. 26) showing total sales up 11% for the third quarter (Q3), following 12% sales growth last year.Comparable sales — up 1% — were affected by “significantly warmer temperatures than last year,” CEO Michael O’Sullivan said during an earnings call.“At Burlington, we are particularly sensitive to warmer weather in Q3,” he told analysts. “Many shoppers still think of ...

For the quarter ended October 2024, Burlington Stores (BURL) reported revenue of $2.53 billion, up 10.5% over the same period last year. EPS came in at $1.55, compared to $0.98 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.56 billion, representing a surprise of -1.23%. The company delivered an EPS surprise of +0.65%, with the consensus EPS estimate being $1.54.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Burlington Stores (BURL) came out with quarterly earnings of $1.55 per share, beating the Zacks Consensus Estimate of $1.54 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.65%. A quarter ago, it was expected that this discount retailer would post earnings of $0.95 per share when it actually produced earnings of $1.20, delivering a surprise of 26.32%.Over the last four quarters, t ...

Sales Performance - Total sales increased by 11% to $2,526 million, with comparable store sales growth of 1%[3] - Net sales for the three months ended November 2024 were $2,526,174 thousand, a 10.6% increase compared to $2,284,673 thousand in the same period last year[25] - Total revenue for the nine months ended November 2024 reached $7,357,766 thousand, up 11.5% from $6,601,109 thousand in the prior year period[25] - For FY24, the company raised adjusted EPS guidance to $7.76-$7.96 and expects total sales growth of 9%-10%[2][11] - For Q4 FY24, the company expects total sales growth of 5%-7% and adjusted EPS in the range of $3.55-$3.75[12][13] Profitability and Earnings - Net income was $91 million, with diluted EPS of $1.40, and adjusted EPS increased by 41% to $1.55[2][5] - Adjusted EBIT margin increased by 80 basis points, driven by higher gross margin and leverage on supply chain expenses[3][5] - Gross margin rate improved by 70 basis points to 43.9%, with merchandise margin expanding by 50 basis points[5] - Adjusted EBITDA increased by 100 basis points to $229 million, and adjusted EBIT increased by 80 basis points to $141 million[5] - Net income for the nine months ended November 2024 was $242,871 thousand, a 116.5% increase compared to $112,191 thousand in the same period last year[25] - Diluted net income per common share for the nine months ended November 2024 was $3.77, up 117.9% from $1.73 in the prior year period[25] - Adjusted Net Income for the three months ended November 2, 2024 was $99.895 million, compared to $63.828 million for the same period in 2023[40] - Adjusted EPS for the three months ended November 2, 2024 was $1.55, compared to $0.98 for the same period in 2023[40] - Adjusted EBITDA for the three months ended November 2, 2024 was $228.786 million, compared to $175.563 million for the same period in 2023[40] - Net income for the nine months ended November 2, 2024 was $242.871 million, compared to $112.191 million for the same period in 2023[40] - Adjusted Net Income for the nine months ended November 2, 2024 was $264.195 million, compared to $157.698 million for the same period in 2023[40] - Adjusted EPS for the nine months ended November 2, 2024 was $4.10, compared to $2.43 for the same period in 2023[40] - Adjusted EBITDA for the nine months ended November 2, 2024 was $641.990 million, compared to $473.689 million for the same period in 2023[40] Inventory and Assets - Merchandise inventories increased by 8% to $1,441 million, while comparable store inventories decreased by 2%[7] - Merchandise inventories as of November 2, 2024 were $1,440,695 thousand, a 32.5% increase compared to $1,087,841 thousand at the beginning of the period[27] - Total assets as of November 2, 2024 were $8,442,860 thousand, a 9.5% increase from $7,706,840 thousand at the beginning of the period[27] Cash Flow and Capital Expenditures - Cash and cash equivalents as of November 2, 2024 were $857,800 thousand, a decrease of 7.3% from $925,359 thousand at the beginning of the period[27][30] - Net cash provided by operating activities for the nine months ended November 2024 was $320,212 thousand, an 18.5% increase compared to $270,196 thousand in the prior year period[31] - Cash paid for property and equipment for the nine months ended November 2024 was $527,065 thousand, a 73.1% increase compared to $304,442 thousand in the prior year period[31] - The company plans to open 101 net new stores and expects capital expenditures of approximately $750 million[11] Share Repurchase Program - The company repurchased 213,372 shares for $56 million, with $325 million remaining in the share repurchase program[10] Adjusted Metrics and Expenses - Adjusted SG&A for the three months ended November 2, 2024 was $679.995 million, compared to $622.735 million for the same period in 2023[40] - Adjusted Effective Tax Rate for the three months ended November 2, 2024 was 23.5%, compared to 25.0% for the same period in 2023[42] - Adjusted SG&A for the nine months ended November 2, 2024 was $1.986 billion, compared to $1.774 billion for the same period in 2023[40]

Total sales growth of 11% on top of 12% last yearComparable store sales growth of 1% on top of 6% last yearNet income was $91 million, and diluted EPS was $1.40 Excluding certain expenses associated with acquired BBBY leases: Adjusted EBIT margin increased 80 basis points Adjusted EPS increased 41% to $1.55 Adjusted EPS guidance for FY24 raised to $7.76-$7.96 BURLINGTON, N.J., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Burlington Stores, Inc. (NYSE: BURL), a nationally recognized off-price retailer of high-quality ...