Burlington Stores (BURL) Tops Q3 EPS by 11c, Offers Outlook

Burlington Stores (NYSE: BURL) reported Q3 EPS of $1.36, $0.11 better than the analyst estimate of $1.25. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.22 billion.

Outlook:

Given the uncertainty surrounding the pace of the recovery of consumer demand and the ongoing COVID-19 pandemic, the Company is not providing sales or earnings guidance for Fiscal 2021 (the 52-weeks ending January 29, 2022) at this time.

The Company is updating the following Fiscal 2021 guidance items:

• Capital expenditures, net of landlord allowances, is now expected to be approximately $425 million;
• The Company now expects to open 101 new stores, while relocating or closing 24 stores, for a total of 77 net new stores in Fiscal 2021;
• Depreciation & amortization, exclusive of favorable lease costs, is now expected to be approximately $250 million;
• Interest expense is now expected to be approximately $68 million; and
• The effective tax rate is now expected to be approximately 23%.

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

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