Burlington Stores, Inc. (BURL), a retailer and merchandise company, on Thursday reported higher net income in the first quarter of fiscal year 2026 compared with the previous year and raised the full year 2026 outlook while guiding for the second quarter.
The company said that the revenue growth and higher earnings were driven by stronger comparable store sales, higher gross margin and leverage on supply chain expenses.
For the first quarter, net income increased to $114.74 million from $100.83 million in the previous year.
Earnings per share were $1.79 versus $1.58 last year.
Adjusted net income jumped to $128.90 million from $102.58 million in the prior year.
Adjusted earnings per share were $2.01 versus $1.60 last year.
EBIT surged to $171.68 million from $146.32 million in the same period a year ago.
Adjusted EBITDA rose to $276.28 million from $238.10 million in the prior year.
Revenue increased to $2.886 billion from $2.50 billion in the previous year.
Looking ahead, the company raised its fiscal 2026 total sales growth forecast to a range of 9% to 11% from the prior outlook of 8% to 10%.
The company also increased its comparable store sales growth guidance to 2% to 4% from the previous range of 1% to 3%.
The company raised its fiscal 2026 adjusted earnings per share guidance to a range of $11.45 to $11.80 from the prior outlook of $10.95 to $11.45.
For the second quarter of fiscal year 2026, the company expects total sales growth of 10% to 12%, with comparable store sales growth of 1% to 3%.
The company expects adjusted earnings per share in the range of $2.05 to $2.20 for the second quarter.
In the pre-market trading, Burlington Stores is 2.29% lesser at $318.55 on the New York Stock Exchange.
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