Burlington Stores, Inc. (NYSE:BURL) shares are trading higher in the premarket session on Thursday.
The company reported fourth-quarter adjusted earnings per share of $4.13, beating the street view of $3.76.
Quarterly sales of $3.28 billion (+5% year over year) outpaced the analyst consensus estimate of $3.23 billion. Comparable store sales growth for the quarter was 6%, versus guidance of 0% to 2%.
“Taking 2024 as a whole, total sales increased 11%, comparable store sales increased 4%, and Adjusted EBIT Margin increased 100 basis points,” said Michael O’Sullivan, CEO.
The quarterly gross profit was $1.404 billion, up from $1.333 billion in the year-ago period. Gross margin expanded by 30 basis points to 42.9%, freight improved by 20 basis points, and merchandise margin increased by 10 basis points.
Adjusted EBITDA was $456 million in the quarter under review, higher than $412 million in the year-ago period.
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“We opened 101 net new stores in 2024 and relocated 31 of our older oversized locations,” the CEO added.
The company ended the fourth quarter with $1.822 billion in liquidity, comprised of $995 million in unrestricted cash.
Outlook: “The outlook for 2025 is very uncertain and we will plan and manage our business accordingly,” the CEO said.
The company expects total sales to increase by 6% – 8%, on top of the 11% increase the prior year. The company sees adjusted EPS of $8.70 – $9.30 (estimate: $9.43).
Burlington expects first-quarter total sales to increase 5% – 7%, comparable store sales are expected to be flattish. The company sees adjusted EPS of $1.30 – $1.45 (estimate: $1.68).
Price Action: BURL shares are trading higher by 12.5% to $266.50 premarket at last check Thursday.
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