Reported Q: Q2 2024 Rev YoY: +7.7% EPS YoY: +54.7% Move: +1.67%
Burlington Stores Inc
BURL
$330.83 1.67%
Exchange NYSE Sector Consumer Cyclical Industry Apparel Retail
Q2 2024
Published: Aug 29, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for BURL

Reported

Report Date

Aug 29, 2024

Quarter Q2 2024

Revenue

2.47B

YoY: +7.7%

EPS

1.15

YoY: +54.7%

Market Move

+1.67%

Previous quarter: Q1 2024

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Earnings Highlights

  • Revenue of $2.47B up 7.7% year-over-year
  • EPS of $1.15 increased by 54.7% from previous year
  • Gross margin of 42.9%
  • Net income of 73.76M
  • "“Back-to-school is a very important business driver for us.”" - Michael O'Sullivan
BURL
Company BURL

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Executive Summary

Burlington Stores delivered a robust Q2 2024, with 13% total sales growth and 5% comparable store sales (comp) as the company benefited from a strong back-to-school cycle, new-store openings and disciplined merchandising. Management cited sharp value messaging, faster inventory turns and ongoing supply-chain productivity as key factors driving a 110-basis-point expansion in gross margin to 42.8% and a 160-basis-point improvement in adjusted EBIT margin to 4.8% for the quarter. GAAP net income was $73.8 million, while adjusted earnings per share reached $1.24, underscoring meaningful earnings leverage from above-plan top-line growth. Free cash flow remained negative in the quarter (-$35.96 million) due to elevated capital expenditure and a sizable share repurchase program, while operating cash flow was $160.4 million. Burlington also raised full-year guidance, dialing up total sales to +9% to +10% and comp to +2% to +3%, with adjusted EPS of $7.66 to $7.96 and an adjusted EBIT margin uplift of 50–70 bps. The company faces near-term headwinds from higher ocean freight costs (approximately a $0.10 per share drag to back-half margins) and the cadence of the 53rd calendar week, which boosts Q3 versus Q4 but does not fully translate to the fourth quarter’s year-over-year comparables. Looking ahead, Burlington is investing heavily in store expansion (net 100 stores in 2024, plus relocations) and in a much larger Southeast distribution center (DC) designed for greater automation, signaling a longer-term margin and productivity trajectory that could sustain above-market profitability if the inputs remain favorable.

Key Performance Indicators

Revenue
Increasing
2.47B
QoQ: 4.40% | YoY: 7.70%
Gross Profit
Increasing
1.06B
42.89% margin
QoQ: 11.44% | YoY: 6.64%
Operating Income
Increasing
106.76M
QoQ: -15.68% | YoY: 5.68%
Net Income
Increasing
73.76M
QoQ: -6.05% | YoY: 51.92%
EPS
Increasing
1.16
QoQ: -5.69% | YoY: 54.67%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 2,504.02 1.58 +6.0% View
Q4 2024 3,277.06 4.02 +4.8% View
Q3 2024 2,530.70 1.40 -19.1% View
Q2 2024 2,465.52 1.15 +7.7% View
Q1 2024 2,361.55 1.22 +8.6% View