Burlington Stores Tightens FY2023 Adj EPS Guidance from $5.50-6.00 to $5.60-5.90 vs $5.88 Est;
Portfolio Pulse from Benzinga Newsdesk
Burlington Stores has revised its FY2023 adjusted EPS guidance from $5.50-6.00 to $5.60-5.90, compared to the estimated $5.88. The company expects total sales to increase by 11% to 12%, capital expenditures to be around $560 million, and to open 70-80 new stores. Adjusted EBIT margin is expected to increase 60 to 80 basis points, with net interest expense around $60 million. The effective tax rate is projected at 26%, and adjusted EPS is expected to be in the range of $5.37 to $5.67.
August 24, 2023 | 10:49 am
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Burlington Stores has revised its FY2023 adjusted EPS guidance, which could impact investor sentiment and the company's stock price.
The revision of Burlington Stores' FY2023 adjusted EPS guidance could lead to changes in investor sentiment, which could in turn affect the company's stock price. However, the impact on the stock price will depend on how the revised guidance compares to market expectations.
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