BURL - Burlington's Bold Beat: Q1 Earnings Outshine Amid Market Uncertainties | Benzinga
Burlington Stores (NYSE:BURL) shares are trading higher after the company reported better-than-expected first-quarter fiscal 2024 financial results.
Quarterly revenue grew 10.5% year-over-year to $2.361 billion, beating the consensus of $2.34 billion. Comparable store sales increased by 2%.
Adjusted EPS rose to $1.35 from $0.84 YoY, beating the consensus of $1.04.
Gross margin was 43.5% vs. 42.3% for the quarter, an increase of 120 basis points. At the end of the quarter, merchandise inventories were $1.141 billion vs. $1.231 billion last year.
Adjusted EBITDA stood at $211.36 million vs. $157.28 million last year, with the margin expanding 160 bps to 8.9%.
Adjusted SG&A was 27.1% of net sales vs. 26.5% a year ago, an increase of 60 bps.
The company ended ...