Why Off-Price Retailer Burlington Stores Shares Are Higher Today
Portfolio Pulse from Lekha Gupta
Burlington Stores (NYSE:BURL) shares rose after reporting Q4 financial results surpassing expectations and providing optimistic FY24 guidance. Revenue grew 14% Y/Y to $3.126 billion, with a comparable store sales increase of 2%. Adjusted EPS was $3.69, above the expected $3.10-$3.25. Gross margin improved to 42.6%, and adjusted EBITDA increased to $412 million. For FY24, Burlington anticipates adjusted EPS of $7.00-$7.60 and sales growth of 9%-11%. Shares are up 6.40% at $219.04.
March 07, 2024 | 4:31 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Burlington Stores reported impressive Q4 results with revenue and EPS exceeding forecasts, and provided an optimistic outlook for FY24, leading to a 6.40% increase in stock price.
Burlington Stores' Q4 financial performance exceeded expectations, with significant year-over-year growth in revenue, adjusted EPS, and gross margin. The company's optimistic FY24 guidance, including expected sales growth and adjusted EPS, positively impacts investor sentiment, leading to a notable increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100