Burlington Stores, Inc. Reports Second Quarter 2020 Earnings
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Burlington Stores (BURL) Tops Q2 EPS by 48c, Revenues Miss
August 27, 2020 6:48 AM EDTBurlington Stores (NYSE: BURL) reported Q2 EPS of ($0.56), $0.48 better than the analyst estimate of ($1.04). Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $1.11 billion.
On a GAAP basis, total sales declined 39%, net loss was $46.8 million, and EPS was ($0.71)On a Non-GAAP basis, Adjusted EPS was ($0.56)Total inventory decreased 26% at the end of the second quarterUnrestricted cash and total liquidity were approximately $1.1 billion and $1.2 billion, respectively, at the end of the second quarterMichael OSullivan, CEO, stated, The second quarter had some highs and... More
