2023-08-24 06:50:41 ET
- Burlington press release ( NYSE: BURL ): Q2 Non-GAAP EPS of $0.60 beats by $0.14 .
- Revenue of $2.17B (+9.0% Y/Y) in-line.
- Q3 Outlook : Total sales to increase in the range of 13% to 15%; this assumes comparable store sales will increase in the range of 5% to 7% versus the third quarter of Fiscal 2022; Adjusted EBIT margin to increase 130 to 180 basis points versus the third quarter of Fiscal 2022;?An effective tax rate of approximately 26%; and Adjusted EPS in the range of $0.86 to $1.01, as compared to $0.26 in diluted EPS and $0.43 in Adjusted EPS last year.
- FY2023 Outlook : Total sales to increase approximately 11% to 12%; comparable store sales will increase in the range of 3% to 4%; Capital expenditures, net of landlord allowances, to be approximately $560 million;?To open 70-80 net new stores; Depreciation and amortization, exclusive of favorable lease costs, to be approximately $310 million;?Adjusted EBIT margin to increase 60 to 80 basis points versus last year;?Net interest expense to be approximately $60 million;?An effective tax rate of approximately 26%; and Adjusted EPS to be in the range of $5.37 to $5.67; Excluding the incremental expenses, adjusted EPS is expected to be in the range of $5.60 to $5.90.
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Burlington Non-GAAP EPS of $0.60 beats by $0.14, revenue of $2.17B in-line