Burlington Stores(US:BURL)2025-11-25 11:49Financial Performance - Total sales increased by 7% year-over-year to $2,706 million in Q3 2025, while comparable store sales rose by 1%[4] - Net income for Q3 2025 was $105 million, with diluted EPS at $1.63, compared to $91 million and $1.40 per share in Q3 2024[6] - Adjusted EPS increased by 16% to $1.80, and the company raised its full-year Adjusted EPS guidance to a range of $9.69 to $9.89[6][11] - Net sales for the three months ended November 1, 2025, were $2,706,003, an increase from $2,526,174 for the same period in 2024, representing a growth of approximately 7.1%[24] - Total revenue for the nine months ended November 1, 2025, reached $7,919,531, compared to $7,357,766 for the same period in 2024, indicating a year-over-year increase of about 7.6%[24] - Net income for the nine months ended November 1, 2025, was $299,767, up from $242,871 in the prior year, reflecting a growth of approximately 23.4%[24] - Diluted net income per share for the three months ended November 1, 2025, was $1.63, compared to $1.40 for the same period in 2024, marking an increase of about 16.4%[24] Inventory and Assets - Merchandise inventories were $1,658 million, a 15% increase from Q3 2024, while comparable store inventories decreased by 2%[8] - Merchandise inventories increased to $1,658,435 as of November 1, 2025, compared to $1,440,695 in the prior year, representing a rise of about 15.1%[26] - Total assets grew to $9,596,718 as of November 1, 2025, up from $8,442,860 a year earlier, indicating an increase of approximately 13.6%[26] Debt and Liquidity - The company ended Q3 2025 with $1,532 million in liquidity, including $584 million in unrestricted cash[13] - Total outstanding debt was $2,035 million, with $1,723 million on the Term Loan facility[13] - Long-term debt increased to $2,015,471 as of November 1, 2025, compared to $1,542,712 in the previous year, reflecting a rise of about 30.7%[26] Operating Activities - The company reported net cash provided by operating activities of $293,864 for the nine months ended November 1, 2025, down from $320,212 in the same period of 2024, a decrease of approximately 8.2%[29] - Cash used in investing activities was $837,813 for the nine months ended November 1, 2025, compared to $535,886 in the prior year, indicating an increase of about 56.2%[29] Adjusted Metrics - Adjusted Net Income for the three months ended November 1, 2025, was $107,458,000, compared to $99,895,000 for the same period in 2024, representing an increase of 2.1%[38] - Adjusted Earnings per Share (EPS) for the nine months ended November 1, 2025, was $4.87, up from $4.10 in the same period of 2024, reflecting a growth of 18.9%[38] - Adjusted EBIT for the three months ended November 1, 2025, was $155,907,000, compared to $141,316,000 for the same period in 2024, indicating a year-over-year increase of 10.4%[38] - Adjusted EBITDA for the nine months ended November 1, 2025, reached $738,993,000, compared to $641,990,000 for the same period in 2024, marking an increase of 15.1%[38] Expenses and Charges - SG&A expenses for the three months ended November 1, 2025, totaled $947,518,000, compared to $893,092,000 for the same period in 2024, reflecting an increase of 6.1%[38] - The Company reported net favorable lease costs of $1,891,000 for the three months ended November 1, 2025, down from $2,851,000 in the same period of 2024[38] - Impairment charges for long-lived assets were $3,786,000 for the three months ended November 1, 2025, compared to $3,044,000 for the same period in 2024, indicating an increase of 24.3%[38] Future Outlook - The company plans to open 104 net new stores in Fiscal 2025[14] - Total sales are expected to increase by approximately 8% for the full fiscal year, with comparable store sales projected to rise by 1% to 2%[14] Tax Rate - The effective tax rate on a GAAP basis for the three months ended November 1, 2025, was 24.1%, slightly up from 23.2% in the same period of 2024[39] Share Information - The diluted weighted average shares outstanding for the three months ended November 1, 2025, was 64,068,000, compared to 64,619,000 for the same period in 2024[38] Non-GAAP Measures - The Company believes that non-GAAP measures provide useful supplemental information for evaluating its operations and financial condition, although calculations may vary among companies in the retail industry[37]