Burlington Stores (NYSE:BURL) reported Q2 EPS of $0.35, $0.12 better than the analyst estimate of $0.23. Revenue for the quarter came in at $1.99 billion versus the consensus estimate of $2.03 billion.
Total sales decreased 10% compared to the second quarter of Fiscal 2021 to $1,984 million, while comparable store sales decreased 17% compared to the second quarter of Fiscal 2021. In the second quarter of Fiscal 2021, total sales increased 34% and comparable store sales increased 19%.
GUIDANCE:
Burlington Stores sees Q3 2022 EPS of $0.36-$0.66, versus the consensus of $1.39. Comparable store sales to decrease 18% to 15%; this translates to a 3-year geometric comparable store sales stack of down 4% to down 1%;
Burlington Stores sees FY2022 EPS of $3.70-$4.30, versus the consensus of $5.70. Comparable store sales to decrease in the range of down 15% to down 13% for Fiscal 2022, on top of the 15% increase during Fiscal 2021; this translates to a 3-year geometric comparable store sales stack of down 3% to down 1% versus Fiscal 2019.