Burlington Stores Sees FY23 Total Sales To Increase Approximately 11% (Prior View 11%-12%), Adjusted EPS, Excluding Incremental Expenses, Of $5.72-$5.87 (Prior View $5.60-$5.90)
Portfolio Pulse from Benzinga Newsdesk
Burlington Stores has updated its FY23 guidance, expecting total sales to increase by approximately 11%, which is slightly lower than the previous forecast of 11%-12%. The company now anticipates an Adjusted EPS, excluding incremental expenses from the Bed Bath & Beyond leases, to be between $5.72 and $5.87, compared to the prior range of $5.60 to $5.90. Including these expenses, the Adjusted EPS is projected to be $5.52 to $5.67.
November 21, 2023 | 11:54 am
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Burlington Stores has narrowed its FY23 Adjusted EPS forecast to $5.72-$5.87, excluding costs from Bed Bath & Beyond leases, from the previous $5.60-$5.90 range. Total sales growth is expected to be around 11%.
The updated guidance from Burlington Stores shows a slight decrease in the expected sales growth range but a narrowed and slightly higher Adjusted EPS range, excluding certain expenses. This indicates a mixed impact on the stock, as investors may react positively to the higher EPS range or negatively to the reduced sales growth forecast. The direct mention of the company and the financial figures involved make this news highly relevant and important for investors, but the mixed nature of the update leads to a neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100