Burlington Stores (NYSE: BURL) reported Q3 EPS of $0.29, $0.15 better than the analyst estimate of $0.14. Revenue for the quarter came in at $1.67 billion versus the consensus estimate of $1.53 billion.

• Comparable store sales decreased 11%, with significant improvement coming out of August

Outlook

• Given the uncertainty surrounding the pace of the recovery of consumer demand, the Company’s sales and earnings guidance for Fiscal 2020 (the 52-weeks ending January 30, 2021) remains suspended at this time.
• The following Fiscal 2020 guidance items have been re-issued or updated:
• Capital expenditures, net of landlord allowances, are now expected to be approximately $245 million, which had been reduced at the end of the first quarter from the original outlook of $400 million;
• The Company still expects to open 62 new stores, while now relocating or closing 28 stores, for a total of 34 net new stores in Fiscal 2020;
• Depreciation & amortization, exclusive of favorable lease costs, is now expected to be approximately $225 million; and
• Interest expense, net of non-cash interest of $24 million on convertible notes, is now expected to be approximately $75 million.

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