Burlington Stores (NYSE:BURL) shares are trading higher after the company reported better-than-expected second-quarter financial results.
Quarterly revenue grew 13% year-over-year to $2.46 billion, beating the consensus of $2.415 billion. Comparable store sales increased by 5%. Adjusted EPS rose 98% YoY to $1.24, beating the consensus of $0.95.
Gross margin was 42.8% vs. 41.7% for the quarter, an increase of 110 basis points. At the end of the quarter, merchandise inventories were $1.223 billion vs. $1.162 billion last year.
Adjusted EBITDA stood at $201.84 million vs. $140.84 million last year, with the margin expanding 171 bps to 8.2%. Adjusted SG&A was 27.1% of net sales vs. 27% a year ago, an increase of 10 bps.
The company ended the quarter with $1.476 billion in liquidity, comprised of ...
