These exchanges resulted in aggregate pre-tax debt extinguishment charges of $14.7 million and $124.6 million during Fiscal 2022 and Fiscal 2021, respectively. Prior to the close of business on the business day immediately preceding January 15, 2025, the Convertible Notes will be convertible at the option of the holders only upon the occurrence of certain events and during certain periods. Thereafter, the Convertible Notes will be convertible at the option of the holders at any time until the close of busin ...

Burlington Stores Ltd. (NYSE:BURL) Q4 2022 Earnings Conference Call March 2, 2023 8:30 AM ET Company Participants Michael O’Sullivan - Chief Executive Officer Kristin Wolfe - Executive Vice President, Chief Financial Officer David Glick - Group Senior Vice President, Investor Relations Conference Call Participants Matthew Boss - JP Morgan Jesse Sobelson - Wells Fargo Lorraine Hutchinson - Bank of America John Kernan - TD Cowen Mark Altschwager - Baird Adrienne Yih - Barclays Chuck Grom - Gordon Haskett Op ...

Burlington Stores, Inc. (NYSE:BURL) Q3 2022 Earnings Conference Call November 22, 2022 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 - J.P. Morgan Irwin Boruchow - Wells Fargo Securities Lorraine Hutchinson - Bank of America John Kernan - Cowen and Company Alexandra Straton - Morgan Stanley Charles Grom - Gordon Haskett Research Mark Altschwager - Robert W. Baird Brooke Roach - Goldman Sachs ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock BURL New York Stock Exchange 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 October 29, 2022 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 001-36 ...

Financial Data and Key Metrics Changes - Comparable store sales for Q2 decreased by 17%, following a 19% growth in the previous year [7][34] - Total sales in Q2 were down 10%, with a three-year geometric comp stack of minus 1% [34] - Adjusted EPS for Q2 was $0.35, exceeding the guidance range of $0.18 to $0.31 [35][34] - Gross margin rate was 38.9%, a decrease of 320 basis points compared to 42.2% in Q2 2021 [35][34] Business Line Data and Key Metrics Changes - The company managed in-store inventories closely, ending the quarter 5% below 2021 levels on a comp store basis [40] - Reserve inventory was 52% of total inventory, up from 31% last year, indicating a strategic increase in opportunistic buys [40][41] Market Data and Key Metrics Changes - The low to moderate-income customer segment, which constitutes approximately 40% of the company's sales, is under significant economic pressure, impacting discretionary spending [11][12] - The current retail environment is characterized by high promotional activity, particularly affecting retailers serving low to moderate-income shoppers [13][16] Company Strategy and Development Direction - The company is focusing on offering the best value in categories, brands, styles, and price points to attract customers [10][48] - Plans for the fall include tightly controlling buying and liquidity, managing inventories, and aggressively pursuing opportunities to reduce expenses [25][24] - The company is optimistic about 2023, anticipating a recovery in sales and earnings as the inventory overhang clears and promotional activity declines [28][33] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with Q2 sales performance, attributing it to external factors affecting low to moderate-income customers and increased promotional activity [46][47] - The company expects weak sales trends and significant promotional activity to persist through the rest of the year, leading to a revised guidance of minus 4% to minus 1% for the three-year geometric stack [21][23] Other Important Information - The company recently released its corporate social responsibility report, highlighting progress on environmental, social, and governance priorities [49] - A transition in the CFO position was noted, with Kristin Wolfe taking over from John Crimmins, who is retiring [51][50] Q&A Session Summary Question: Thoughts on the relative performance of major off-price retailers - Management noted a divergence in performance, with one peer up in the mid-teens and another in mid-single digits, while the company is at minus 1% [55] - The low-income customer segment, which previously drove growth, is currently struggling, impacting the company's performance [57] Question: Impact of 2022 challenges on long-term opportunities - Management emphasized the importance of separating short-term headwinds from long-term structural advantages of the off-price model [64][66] Question: Current pricing trends in the retail industry - Management indicated that realized prices have plummeted due to excess inventory, leading to significant markdowns across the industry [72][73] Question: EPS performance in Q2 despite comp miss - Management explained that gross margin pressure was offset by productivity and expense savings, leading to better-than-expected EPS [75][76] Question: Updated guidance rationale - Management acknowledged that the guidance is conservative, reflecting missed sales targets and ongoing promotional activity [84][85] Question: Inventory levels and response to sales trends - Management expressed confidence in managing inventory levels and the ability to respond to stronger sales trends through reserve inventory and market purchases [90][94]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock BURL New York Stock Exchange 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 July 30, 2022 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. (NYSE:BURL) Q1 2022 Earnings Conference Call May 26, 2022 8:00 AM ET Company Participants David Glick - Senior Vice President, Investor Relations and Treasurer Michael O’Sullivan - Chief Executive Officer John Crimmins - Chief Financial Officer Conference Call Participants Matthew Boss - JPMorgan Ike Boruchow - Wells Fargo Lorraine Hutchinson - Bank of America John Kernan - Cowen Kimberly Greenberger - Morgan Stanley Chuck Grom - Gordon Haskett Operator Ladies and gentlemen, thank yo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock BURL New York Stock Exchange 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 April 30, 2022 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 001-3610 ...

COVID-19 Impact - The COVID-19 pandemic has significantly disrupted the company's business operations, leading to temporary closures of all stores and distribution centers, which adversely affected financial performance and liquidity [63]. - Future outbreaks of COVID-19 may continue to disrupt operations, impacting supply chain, labor availability, and consumer demand, which could lead to reduced sales and increased markdowns [64]. - The company faces uncertainties related to COVID-19, including potential supply chain disruptions and labor shortages, which could impact revenues [230]. Financial Performance - Net income for Fiscal 2021 was $408.8 million, a significant increase from a net loss of $216.5 million in Fiscal 2020 [245]. - Adjusted Net Income improved by $742.7 million to $573.2 million in Fiscal 2021, driven by sales growth and recovery from COVID-19 impacts [250]. - Adjusted EBITDA for Fiscal 2021 improved by $1,113.6 million to $1,050.9 million, primarily due to the temporary closure of stores during Fiscal 2020 and sales growth in Fiscal 2021 [254]. - The reconciliation of net income to Adjusted EBITDA shows a net income of $408.8 million for Fiscal 2021, compared to a net loss of $216.5 million in Fiscal 2020 [256]. - Interest expense for Fiscal 2021 was $67.5 million, down from $97.8 million in Fiscal 2020 [256]. - The company incurred $156.0 million in losses on the extinguishment of debt during Fiscal 2021 [256]. - Income tax expense for Fiscal 2021 was $136.5 million, compared to a benefit of $221.1 million in Fiscal 2020 [256]. Store Operations and Expansion - The company has identified opportunities to operate 2,000 stores long-term, but growth depends on market conditions, suitable real estate, and effective inventory management [85]. - The company plans to open approximately 90 net new stores in Fiscal 2022, which includes around 120 gross new stores and about 30 relocations and closures [221]. - Burlington Stores operates 840 stores across 45 states and Puerto Rico, having opened 101 new stores during Fiscal 2021 [210]. - The company relocated or downsized a total of 20 stores during Fiscal 2021 to improve customer experience and reduce occupancy costs [226]. Inventory and Supply Chain Management - The company must effectively manage inventory to maximize sales, including timely distribution and appropriate merchandise allocation [90]. - Relationships with vendors are critical; disruptions could lead to insufficient merchandise supply and lost sales [97]. - Disruptions in the distribution network could lead to inventory delivery delays, impacting sales and profits [116]. - Industry-wide supply chain issues have led to increased freight and labor costs, significantly impacting margins during Fiscal 2021 [241]. - The company recognized inventory markdown reserves of $271.9 million during the three-month period ended May 2, 2020, due to aging inventory from temporary store closures [219]. Competition and Market Conditions - Increased competition from other retailers may adversely affect the company's market position and sales, particularly as consumer demand shifts [70]. - The company anticipates increased competition in the retail apparel and home furnishings markets, necessitating differentiation strategies [239]. - Seasonal fluctuations affect net sales and operating income, with higher income typically realized in the second half of the year, making the company vulnerable to decreased sales during this period [74]. Financial Obligations and Debt - As of January 29, 2022, the company's debt obligations include $950.7 million under a $1,200.0 million senior secured term loan facility and $572.3 million under Convertible Notes [154]. - Estimated cash required for interest payments on debt obligations amounts to approximately $33.1 million for the fiscal year ending January 28, 2023 [154]. - The conditional conversion feature of the Convertible Notes may adversely affect the company's liquidity if triggered [159]. Operational Risks - The company faces inflationary pressures in its supply chain, which could negatively impact pricing strategies and profit margins if costs cannot be offset [69]. - Labor costs and challenges from a large workforce may adversely affect results and profitability [103]. - Cybersecurity threats pose risks to the integrity of information systems, potentially disrupting operations and damaging reputation [120]. - The company is subject to various legal and regulatory proceedings that could adversely impact its financial performance [148]. - Issues with merchandise safety and shrinkage could damage sales and financial results, leading to potential fines or penalties [142]. Strategic Initiatives - The company plans to enhance its off-price model by investing in merchandising capabilities and improving operational flexibility, which may require increased resources [86]. - The effectiveness of the company's advertising and marketing programs is critical for future growth and profitability [132]. - The company aims to enhance profitability by driving comparable store sales growth and operating with leaner inventories [223]. - The company plans to invest in merchandising capabilities to improve vendor relationships and better forecast sales trends [223]. Regulatory and Compliance Issues - Compliance with evolving privacy and data security regulations could increase operational costs and expose the company to fines and lawsuits [145]. - The company must manage compliance with numerous local laws and regulations as it expands its store presence, which complicates operations [137].

Burlington Stores, Inc. (NYSE:BURL) Q4 2021 Earnings Conference Call March 3, 2022 8:30 AM ET Company Participants David Glick – Group Senior Vice President, Investor Relations and Treasurer Michael O’Sullivan – Chief Executive Officer John Crimmins – Chief Financial Officer Conference Call Participants Matthew Boss – JPMorgan Ike Boruchow – Wells Fargo Lorraine Hutchinson – Bank of America John Kernan – Cowen Kimberly Greenberger – Morgan Stanley Roxanne Meyer – MKM Partners Operator Good day, and thank yo ...