Burlington Stores (BURL) Tops Q2 EPS by 9c; Raises Outlook
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Burlington Stores (NYSE: BURL) reported Q2 EPS of $0.39, $0.09 better than the analyst estimate of $0.30. Revenue for the quarter came in at $1.26 billion versus the consensus estimate of $1.24 billion.
Comparable store sales increased 5.4%.
Burlington Stores sees FY2016 EPS of $2.92-$2.96, versus prior guidance of $2.68-$2.78 and the consensus of $2.88.
Tom Kingsbury, Chief Executive Officer stated, “We are very pleased to report second quarter results that included a 9.7% increase in net sales, a 5.4% increase in comparable store sales and a 130 basis point expansion in Adjusted EBITDA margin. These results were driven by the continued improvement in the execution of our off-price operating model. Our consistently strong performance has also enabled us to take advantage of favorable interest rates resulting in the re-pricing of our term loan on July 29, 2016. We believe we are well positioned for the fall season and remain focused on delivering great value, relevant brands, fresh product and an improved store experience for our customers every day. I would like to thank our store and corporate teams for these results.”
For earnings history and earnings-related data on Burlington Stores (BURL) click here.
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