2023-05-25 06:51:22 ET
- Burlington press release ( NYSE: BURL ): Q1 Non-GAAP EPS of $0.84 misses by $0.08 .
- Revenue of $2.14B (+10.9% Y/Y) misses by $40M .
- Q2 Outlook : Total sales to increase in the range of 8% to 10%; this assumes comparable store sales will increase in the range of 2% to 4% versus the second quarter of Fiscal 2022; Adjusted EBIT margin to increase 10 to 50 basis points versus the second quarter of Fiscal 2022;??An Adjusted Effective Tax Rate of approximately 25%; and? Adjusted EPS in the range of $0.35 to $0.45, as compared to $0.18 in diluted EPS and $0.35 in Adjusted EPS last year.
- FY2023 Outlook : Total sales to increase in the range of 12% to 14% including approximately 2% from the 53rd week, on top of a 7% decrease in Fiscal 2022; this assumes comparable store sales will increase in the range of 3% to 5%, on top of the 13% decrease during Fiscal 2022; Capital expenditures, net of landlord allowances, to be approximately $560 million;? To open 70-80 net new stores;? Adjusted EBIT margin to increase 80 to 120 basis points versus last year;??Net interest expense to be approximately $63 million;?An Adjusted Effective Tax Rate of approximately 26%;?and Adjusted EPS to be in the range of $5.50 to $6.00, utilizing a fully diluted share count of approximately 65 million.
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Burlington Non-GAAP EPS of $0.84 misses by $0.08, revenue of $2.14B misses by $40M