Burlington Stores (NYSE: BURL) reported Q3 EPS of $1.55, $0.15 better than the analyst estimate of $1.40. Revenue for the quarter came in at $1.78 billion versus the consensus estimate of $1.78 billion.

• Comparable store sales increased 2.7%, on top of last year’s 4.4% increase

GUIDANCE:

Burlington Stores sees FY2019 EPS of $7.28-$7.33, versus the consensus of $7.22.

For Fiscal 2019 (the 52-weeks ending February 1, 2020), the Company now expects:

• Total sales to increase in the range of 8.8% to 9.1%, on top of a 10.7% increase in Fiscal 2018; this assumes comparable store sales to increase in the range of 2% to 3% for the fourth quarter of Fiscal 2019, resulting in a full year comparable store sales increase of 2.1% to 2.4% on top of the 3.2% increase during Fiscal 2018;
• Depreciation and amortization, exclusive of favorable lease costs, to be approximately $210 million;
• Adjusted EBIT margin to be up approximately 10 to 20 basis points vs last year;
• Interest expense of approximately $51 million;
• An effective tax rate of approximately 20%;
• To open 51 net new stores, and invest approximately $310 million in Capital Expenditures, net of landlord allowances; and
• Based on third quarter results, Adjusted EPS in the range of $7.28 to $7.33, utilizing a fully diluted share count of approximately 67.3 million, as compared to Fiscal 2018 net income per share of $6.04 and Fiscal 2018 Adjusted EPS of $6.44. This outlook excludes an expected $0.05 per share impact of management transition costs.

For the fourth quarter of Fiscal 2019 (the 13 weeks ending February 1, 2020), the Company expects:

• Total sales to increase in the range of 9% to 10%;
• Comparable store sales to increase 2% to 3%;
• An effective tax rate of approximately 24%; and
• Adjusted EPS in the range of $3.12 to $3.17, which assumes a fully diluted share count of approximately 67.1 million, as compared to Fiscal 2018 fourth quarter net income per share of $2.70 and Fiscal 2018 fourth quarter Adjusted EPS of $2.83. This outlook excludes an expected $0.03 per share impact of management transition costs.

For earnings history and earnings-related data on Burlington Stores (BURL) click here.