Burlington Stores (BURL) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. Individual invest ...

Core Viewpoint - Burlington Stores, Inc. (BURL) reported strong Q2 2024 results, exceeding expectations in both revenue and earnings, driven by new store openings and improved comparable sales growth [2][4][12] Company Overview - BURL is a US fashion retailer with a market cap of $16.89 billion, focusing on off-price retailing with discounts up to 60% [1] - The company operates over 1,000 locations and employs more than 44,000 people [1] Financial Performance - Total sales increased by 13% year-over-year (YoY) to $2.47 billion, surpassing Wall Street's expectations of $2.42 billion [2] - Comparable sales grew by 5% YoY, exceeding the company's previous guidance of 0% to 2% [2][6] Growth Drivers - New store openings contributed significantly, with 36 net new stores added in Q2, bringing the total to 1,057 [3] - New stores are performing above the benchmark of $7 million in sales in their first year [3] - Comparable sales growth accelerated due to a shift towards full-price sales, which increased by 7%, while clearance sales declined [3] Margin Improvement - Gross margin improved by 110 basis points YoY to 42.8%, driven by better merchandise margins and lower freight expenses [4] - Adjusted EBIT margin increased by 160 basis points to 4.8%, exceeding management's expectations [4] Guidance Updates - Full-year EBIT margin guidance was upgraded from 40-60 basis points to 50-70 basis points, and adjusted EPS guidance was raised from $7.35-$7.75 to $7.66-$7.96 [5][6] - Despite the positive adjustments, management remains cautious about future growth, maintaining conservative comp growth estimates for Q3 and Q4 [7] Macro Environment - The retail sector is facing challenges, including rising unemployment and a contraction in consumer spending in the clothing and footwear segment [8] - BURL's off-price model positions it favorably as consumers seek value during economic uncertainty [9] Competitive Position - BURL is outperforming its off-price peers, such as TJX and Ross Stores, in terms of top-line growth and store expansion [10] - While BURL has a higher P/E ratio compared to its peers, its growth potential justifies this valuation [11] Conclusion - BURL's strong Q2 performance and growth strategies suggest continued success, even amid a challenging macro environment [12]

Katrina Wittkamp Investment action I recommended a buy rating for Burlington Stores (NYSE:BURL) when I wrote about it in June, as I gained more confidence that BURL can achieve its long-term targets, given the encouraging 1Q24 results and underlying momentum. Based on my current outlook and analysis, I recommend a buy rating. BURL continues to report solid growth momentum, with acceleration in comparable store growth [CSG] that makes me believe management's guidance is overly conservative. My expectation is ...

Core Insights - Burlington Stores, Inc. reported strong second-quarter fiscal 2024 results, with sales and earnings exceeding expectations and showing year-over-year growth [1][4][5] - The company raised its fiscal 2024 outlook due to robust performance [1] Financial Performance - Adjusted earnings per share (EPS) reached $1.20, surpassing the Zacks Consensus Estimate of $0.95, and increased 100% from $0.60 in the previous year [4] - Total revenues were $2,465.5 million, a 13.4% increase from the prior year, exceeding the estimate of $2,421 million [5] - Comparable store sales rose by 5% year over year [5] - Adjusted EBITDA increased by 43.3% to $201.8 million, with an adjusted EBITDA margin of 8.2% [8] Margin Analysis - Gross margin improved to 42.8%, up 110 basis points from the previous year, driven by lower markdowns and improved freight expenses [6] - Adjusted selling, general and administrative (SG&A) expenses rose 13.7% to $667.1 million, with SG&A as a percentage of sales at 27.1% [7] Strategic Initiatives - Burlington Stores is expanding its store footprint, having opened 36 net new stores in the second quarter, bringing the total to 1,057 locations [8] - The company plans to open approximately 100 net new stores and relocate around 30 locations in fiscal 2024, with new store sales exceeding expectations [9] Fiscal 2024 Guidance - For the fiscal third quarter, total sales are expected to increase by 10-12%, with comparable store sales projected to rise by 0-2% [12] - Adjusted EPS is forecasted to be in the range of $1.45-$1.55, up from $1.10 in the previous year [13] - The company revised its full-year sales growth estimate to 9-10%, with comparable store sales expected to grow by 2-3% [15][16] Financial Position - As of the end of the reported quarter, Burlington Stores had cash and cash equivalents of $659.9 million and long-term debt of $1.23 billion [10] - The company ended the quarter with $1.40 billion in total outstanding debt and has $380 million remaining under its share repurchase authorization [11]

Key Takeaways Burlington Stores posted better-than-expected results and boosted its outlook on strong sales and improved supply chains, but warned about ocean freight costs. Profit more than doubled from the year ago period, as revenue jumped 13%. CEO Michael O'Sullivan noted even with some cost pressure from ocean freight, the retailer was increasing its profit forecasts. Burlington Stores (BURL) Thursday posted a higher-than-estimated doubling of its profits and raised its outlook for the year, although i ...

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 August 3, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-36107 BURLINGTON STORES, INC. (Exact name of registrant as specified in its charter) Delaware 80-0895227 (State or Other Juris ...

Burlington Stores, Inc. (NYSE:BURL) Q2 2024 Earnings Conference Call August 29, 2024 8:30 AM ET Company Participants David Glick - Senior Vice President, Treasurer & Investor Relations Michael O'Sullivan - Chief Executive Officer Kristin Wolfe - Executive Vice President & Chief Financial Officer Daniel Delrosario - Investor Relations Conference Call Participants Matthew Boss - JPMorgan Ike Boruchow - Wells Fargo Lorraine Hutchinson - Bank of America John Kernan - TD Cowen Brooke Roach - Goldman Sachs Alex S ...

For the quarter ended July 2024, Burlington Stores (BURL) reported revenue of $2.46 billion, up 13.2% over the same period last year. EPS came in at $1.20, compared to $0.60 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $2.42 billion, representing a surprise of +1.67%. The company delivered an EPS surprise of +26.32%, with the consensus EPS estimate being $0.95. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Burlington Stores (BURL) came out with quarterly earnings of $1.20 per share, beating the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 26.32%. A quarter ago, it was expected that this discount retailer would post earnings of $1.04 per share when it actually produced earnings of $1.42, delivering a surprise of 36.54%. Over the last four quarters ...

Exhibit 99.1 Burlington Stores, Inc. Reports Second Quarter 2024 Earnings • Total sales growth of 13%; comparable store sales growth of 5% • Net income was $74 million, and diluted EPS was $1.15 • Excluding certain expenses associated with acquired BBBY leases: o Adjusted EBIT margin increased 160 basis points o Adjusted EPS increased 98% to $1.24 o Adjusted EPS guidance for FY24 raised to $7.66-$7.96 BURLINGTON, New Jersey; August 29, 2024 — Burlington Stores, Inc. (NYSE: BURL), a nationally recognized off ...