Why Off-Price Retailer Burlington Stores Shares Are Higher Today



Burlington Stores (NYSE:BURL) shares are trading higher after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance.

Revenue growth of 14% Y/Y to $3.126 billion, beating the consensus of $3.07 billion. Comparable store sales increased by 2%, ahead of management guidance of -2% to 0%.

On a 13-week basis, Adjusted EPS rose 25% Y/Y to $3.69, above guidance of $3.10-$3.25, and surpassed the consensus of $3.30.

Gross margin was 42.6% vs. 40.7% for the fourth quarter, an increase of 190 basis points. At the …

Full story available on Benzinga.com


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