Burlington Stores Reports Q2 Earnings Beat

Burlington Stores BURL reported second-quarter earnings of $1.36 per share, which beat the analyst consensus estimate of $1.14 by 19.3%. This is a 24.77% increase over earnings of $1.09 per share from the same period last year.

The company reported quarterly sales of $1.656 billion, which beat the analyst consensus estimate of $1.63 billion by 1.60%. This is a 10.03% increase over sales of $1.505 billion the same period last year.

"We are very pleased with our second-quarter results, driven by our 3.8% comparable store sales increase and 10.5% overall sales growth, which resulted in a 19% increase in Adjusted EPS, well ahead of our guidance," said CEO Tom Kingsbury. "In addition, based on our disciplined inventory management, our comparable store inventory decreased 7%, putting us in a very good position to take advantage of the abundant values available in the marketplace. I would like to thank our store, supply chain and corporate teams for contributing to these strong results."

Burlington Stores shares were trading up 10% at $190.73 in Thursday's pre-market session. The stock has a 52-week high of $184.82 and a 52-week low of $136.30.