Burlington Stores Q1 Earnings Call Highlights

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Burlington Stores (NYSE:BURL) reported stronger-than-expected fiscal first-quarter results, with executives saying the off-price retailer benefited from broad-based comp growth, amended markdown execution and proviso concatenation productivity.

Chief Executive Officer Michael O'Sullivan said the institution delivered a 26% summation successful adjusted net per share, marking what helium called Burlington's 14th consecutive 4th of double-digit net growth. Total income roseate 14% successful the quarter, portion comparable store income accrued 6%, supra the company's anterior guidance scope of 2% to 4%.

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"This way grounds demonstrates our quality to consistently person higher income into borderline expansion, thereby driving precise beardown net flow-through," O'Sullivan said.

Executive Vice President and Chief Financial Officer Kristin Wolfe said first-quarter adjusted EPS was $2.10, supra Burlington's guidance scope of $1.60 to $1.75. Adjusted EBIT borderline was 6.3%, up 20 ground points from the anterior twelvemonth and up of guidance that had called for a 60- to 100-basis-point decline.

Comparable Sales Beat Guidance

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O'Sullivan said first-quarter comp trends were "broad-based crossed businesses and geographies," with peculiar spot successful ladies' apparel, quality and accessories. He besides highlighted warm-weather categories, including shorts, short-sleeved tops, swimwear, sandals and sunglasses, which helium said accounted for astir 25% of first-quarter income and posted double-digit comp growth.