Burlington Stores reports Q1 adjusted EPS $1.67, consensus $1.43

Reports Q1 revenue $2.5B, consensus $2.53B. Comparable store sales were flat, at the mid-point of guidance and on top of 2% last year. Michael O’Sullivan, CEO, stated, “Total Sales increased 6% and Comparable Store Sales were Flat for the first quarter, in line with the midpoint of our guidance. Adjusted EBIT Margin and EPS were ahead of guidance with approximately half of this beat to guidance coming from favorable timing of expenses that will negatively impact Q2.”