Burlington Stores reports Q4 adjusted EPS $3.69, consensus $3.30

Reports Q4 revenue $3.12B, consensus $3.07B. CEO Michael O’Sullivan stated, “Our performance in Q4 exceeded our guidance. On a 13-week basis, total sales increased 10%, comparable store sales grew 2%, adjusted operating margin expanded by 110 basis points, and adjusted EPS increased 25%. This completed a strong year for our business. On a 52-week basis, comparable store sales grew 4%, adjusted operating margin improved 130 basis points, and adjusted EPS increased 46%. We hit a major milestone, opening our 1000th store, and we significantly strengthened our pipeline for new store openings through the previously announced acquisition of Bed Bath & Beyond leases. Looking ahead to 2024, we remain confident in the comparable store sales and margin assumptions we shared in November. There is a lot of uncertainty in the external environment, so we are planning our business flexibly, and we are ready to chase if the sales trend is stronger…As discussed in November, we believe we have the potential to reach $16B in total sales and $1.6B in adjusted operating income in the next five years.”