Reports Q4 revenue $2.74B, consensus $2.6B. Michael O’Sullivan, CEO, stated, "I am pleased with the improvement in our sales trend during Q4. We saw monthly comps accelerate as we moved through the quarter, and this stronger trend has continued through February…Our merchandising and operating plans for 2023 are based on 3% to 5% comp sales growth.,,On 3% to 5% comp sales growth, we are expecting 80 to 120 basis points of operating margin expansion…Beyond 2023, we are excited about our longer-term prospects. We believe that the next few years could present significant opportunities to drive improved results. We are pushing ahead with the transformation of Burlington into a stronger off-price retailer, so we can take advantage of these opportunities."
Published first on TheFly
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