Burlington Stores gained ground in the second quarter, with a rise in both sales and income.
For the second quarter ended July 30, Burlington Stores posted net income of $20.4 million, or 28 cents per diluted share, versus $10.9 million, or 14 cents per diluted share, for the period a year earlier.
Adjusted net income per share was $28.2 million, or 39 cents per share, compared with $14.9 million, or 19 cents per share, in the 2015 quarter. Burlington beat an analyst consensus estimate published by MarketBeat of 30 cents per adjusted share.
Comparable store sales advanced 5.4%. Net sales were $1.26 billion versus $1.14 billion in the year-prior period.
“We are very pleased to report second quarter results that included a 9.7% increase in net sales, a 5.4% increase in comparable store sales and a 130 basis point expansion in adjusted EBITDA margin,” said Tom Kingsbury, Burlington CEO. “These results were driven by the continued improvement in the execution of our off-price operating model. Our consistently strong performance has also enabled us to take advantage of favorable interest rates resulting in the re-pricing of our term loan on July 29. We believe we are well positioned for the fall season and remain focused on delivering great value, relevant brands, fresh product and an improved store experience for our customers every day.”
Burlington operates 570 stores.
