Free Research Report as Burlington Stores’ Revenues Jumped 12.8% and Adjusted EPS Soared 59%

LONDON, UK / ACCESSWIRE / June 29, 2018 / If you want access to our free earnings report on Burlington Stores, Inc. (NYSE: BURL), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BURL. The Company reported its first quarter fiscal 2018 operating and financial results on May 31, 2018. The discount retailer outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Burlington Stores most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=BURL

Earnings Highlights and Summary

For the 13-week period ended May 05, 2018, Burlington Stores’ sales increased 12.8% to $1.52 billion compared to $1.35 billion in the 13-week period ended May 06, 2017. The Company’s revenue numbers beat analysts’ estimates of $1.50 billion.

During Q1 FY18, Burlington Stores’ new and non-comparable stores contributed an incremental $82 million in sales. Accounting for the calendar shift from the 53rd week in FY17, the Company’s comparable store sales increased 4.8% in Q1 FY18 compared to Q1 FY17.

For Q1 FY18, Burlington Stores’ gross margin expanded by approximately 35 basis points (bps) to 41.2% on a y-o-y basis, driven primarily by an increased merchandise margin. The Company’s product sourcing costs, which is included in selling, general, and administrative expenses (SG&A), were approximately 5 bps higher as a percentage of sales versus Q1 FY17.

During Q1 FY18, Burlington Stores’ adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 21% to $165 million. The Company’s adjusted earnings before interest and taxes (EBIT) advanced 26% compared to $120 million in the prior year’s same period.

Burlington Stores’ net income increased 58% to $82.6 million, or $1.20 per share, in Q1 FY18 compared to $52.4 million, or $0.73 per share, in Q1 FY17. The Company’s adjusted earnings per share (EPS) soared 59% to $1.26 versus $0.79 in the year earlier comparable quarter. These improvements were driven primarily by top-line growth, expense leverage, share repurchases since the end of Q1 FY17, and lower tax rates. Burlington Stores’ earnings beat Wall Street’s estimates of $1.09 per share.

Since Q1 FY17, and through the end of Q1 FY18, Burlington Stores repurchased approximately 3 million shares of its common stock under its share repurchase program.

Inventory

During Q1 FY18, Burlington Stores’ merchandise inventories were $787 million compared to $726 million in Q1 FY17. The increase was primarily due to inventory related to 51 net new stores opened since the end of Q1 FY17, and an increase in pack and hold inventory, which was 27% of total inventory at the end of the reported quarter compared to 26% at the end of the year earlier corresponding quarter.

Share Repurchase Activities

During Q1 FY18, Burlington Stores invested $64 million of cash to repurchase 488,468 shares of its common stock. As of the end of the reported quarter, the Company had $153 million remaining on its current share repurchase authorization.

Outlook

For the full fiscal year 2018 ending February 02, 2019, Burlington Stores is forecasting total sales to increase in the range of 9.7% to 10.5%, assuming shifted comparable store sales to increase in the band of 2% to 3% for the balance of FY18, resulting in a full year shifted comparable store sales increase of 2.6% to 3.4%.

Burlington Stores is planning to open 35 to 40 net new stores, and invest a net capital expenditure of approximately $250 million. The Company is estimating adjusted EPS to be in the range of $5.90 to $6.00 compared to the previous outlook of $5.73 to $5.83.

For the second quarter of the fiscal year 2018 ending August 04, 2018, Burlington Stores is projecting total sales to grow in the band of 8% to 9%. The Company is expecting adjusted EPS to be in the range of $0.91 to $0.95.

Stock Performance Snapshot

June 28, 2018 – At Thursday’s closing bell, Burlington Stores’ stock was slightly up 0.89%, ending the trading session at $151.98.

Volume traded for the day: 697.02 thousand shares.

Stock performance in the last month – up 11.32%; previous three-month period – up 14.14%; past twelve-month period – up 65.94%; and year-to-date – up 23.53%

After yesterday’s close, Burlington Stores’ market cap was at $10.48 billion.

Price to Earnings (P/E) ratio was at 32.76.

The stock is part of the Services sector, categorized under the Discount, Variety Stores industry. This sector was up 0.4% at the end of the session.

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