Burlington maintained momentum in the second quarter, with strong earnings driven by a 9.9% sales gain.
For the 13-week second quarter ended August 4, Burlington Stores posted net income of $71 million, or $1.03 per share, versus $46.9 million, or 66 cents per share, in the year-before period.
Adjusted net income, excluding one-time charges, was $78.9 million, or $1.15 per share, versus $51.3 million, or 72 cents per share, in the quarter a year previous. Burlington topped a MarketBest-published second quarter consensus analyst estimate of 96 cents per share.
Comparable store sales increased 2.9% in the quarter year over year. Total sales increased 9.9% to $1.5 billion.
Tom Kingsbury, CEO, Burlington, said, “We are pleased to continue our strong earnings momentum in fiscal 2018 with solid second quarter results, driven by our overall 9.9% sales growth and an 80 basis point adjusted EBIT margin improvement. Our 2.9% comparable store sales increase was up against our most difficult multi-year quarterly comparison. These sales and margin results enabled the company to drive a 51% increase in adjusted EPS in the second quarter, well ahead of our guidance.”