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Burlington Stores higher on earnings beat and raised FY2018 guidance

Published 11/28/2018, 07:25 AM
© Reuters.  Burlington Stores higher on earnings beat and raised FY2018 guidance
COST
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BURL
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  • Burlington Stores (NYSE:BURL) reports comparable-store sales rose 4.4% in Q3.
  • Gross margin rate up 20 bps to 42.4%.
  • SG&A expense rate improved 60 bps to 27.7%.
  • Adjusted EBITDA grew 21.7% to $163.05M.
  • Adjusted EBIT margin rate advanced 80 bps to 7%.
  • Merchandise Inventories +16.9% Y/Y to $1.06B.
  • Q4 Guidance: Net sales: +8% to +9%; Comparable-store sales: +2% to +3%; Tax rate: ~24.5%; Adjusted diluted EPS: $2.71 to $2.75; Fully diluted share count: ~68.5M.
  • FY2018 Guidance: Net sales: +10.9% to +11.2%; Comparable-store sales: +3.4% to +3.7%; D&A: ~$195M; Interest expense: ~$58M; Adjusted EBIT: +40 bps to +50 bps; Tax rate: 20%; Adjusted diluted EPS: $6.33 to $6.37; Fully diluted share count: ~68.7M; Capex: ~$275M; Net new stores: 46.
  • BURL +7.03% premarket.
  • Previously: Burlington beats by $0.15, beats on revenue (Nov. 28)
  • Now read: Costco (NASDAQ:COST): Buy Or Sell Before Earnings?


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