Burlington Stores, Inc. (BURL), a retailer of branded merchandise, on Tuesday reported higher third-quarter earnings and guidance for continued growth in the fourth quarter and fiscal year 2025
For the third quarter, net income increased to $104.75 million from $90.60 million in the previous year.
Earnings per share were $1.63 versus $1.40 last year.
On the adjusted basis, net income increased to $107.46 million from $99.90 million in the previous year.
Adjusted earnings per share $1.68 versus $1.55 last year.
Adjusted EBIT increased to $155.91 million from $141.32 million in the prior year.
Adjusted EBITDA increased to $255.19 million from $228.79 million in the previous year.
Revenue increased to $2.71 billion from $2.53 billion in the previous year.
Looking ahead to fiscal 2025, the company's sales are expected to grow about 8% in fiscal 2025, with comparable-store sales up 1% to 2%.
Adjusted EBIT margin is expected to improve by 60 to 70 basis points, excluding $34 million expenses related to bankruptcy-acquired leases.
Adjusted EPS is projected at $9.69 to $9.89, up from $8.35 last year, excluding costs tied to bankruptcy-acquired leases and based on about 64 million diluted shares.
For the fourth quarter, the company's total sales are expected to grow 7% to 9%, based on comparable store sales rising 0% to 2% from the fourth quarter of Fiscal 2024.
Adjusted EBIT margin is expected to improve by 30 to 50 basis points from the fourth quarter of Fiscal 2024
Adjusted EPS for the fourth quarter of fiscal 2025 is projected at $4.50 to $4.70, up from $4.13 last year.
In the pre-market trading, Burlington Stores is 5.01% lesser at $270 on the New York Stock Exchange.
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