Burlington Q2 net income $12M, adjusted EPS $0.35; cuts FY22 EPS guidance to $3.70-$4.30

Burlington Stores, Inc.

2022-Q2 EPS reported $0.42 revenue$3,917,633,000

Total sales $1,984M, down 10% YoY; comparable store sales down 17%.
Net income $12M ($0.18 GAAP EPS); adjusted EPS $0.35 vs. guidance $0.18-$0.31.
FY2022 adjusted EPS guidance lowered to $3.70-$4.30 from $8.41 in FY2021.
Merchandise inventories $1,267M (+53% YoY); reserve inventory 52% of total.
Repurchased 598k shares for $101M in Q2; $450M remaining on authorization.

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