Burlington Stores Q2 adj. EPS $0.60 beats; comp sales +4%; authorizes $500M buyback

Burlington Stores, Inc.

2023-Q2 EPS reported $0.98 revenue$4,311,763,000

Total sales $2.17B (+9% YoY); comparable store sales +4% (high end of guidance).
Adjusted EPS $0.60 vs. $0.35 YoY; GAAP EPS $0.47; includes $0.03 Bed Bath & Beyond lease expense.
Acquired leases for 62 former Bed Bath & Beyond stores; expects $21M incremental FY expense.
Board authorized $500M additional share repurchase through Aug 2025; $26M repurchased in Q2.
FY 2023 guidance: total sales +11-12%; adj. EPS $5.37-$5.67 (incl. $0.23 Bed Bath & Beyond lease expense).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Burlington Stores, Inc. reported second quarter ended July 29, 2023 results: revenue $2,170 million, net income $31 million, EPS $0.47 per share. Guidance reaffirmed.

Period: second quarter ended July 29, 2023
Revenue: $2,170 million
Net income: $31 million
EPS: $0.47 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

(for the 13-week period ended July 29, 2023, compared with the 13-week period ended July 30, 2022) • Total sales increased 9% compared to the second quarter of Fiscal 2022 to $2,170 million, while comparable store sales increased 4% compared to the second quarter of Fiscal 2022. • Gross margin rate as a percentage of net sales was 41.7% vs. 38.9% for the second

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Source: SEC EDGAR

accession 0000950170-23-044234

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