Burlington Stores Inc. (NYSE:BURL) is on track to report up to a double-digit percentage increase in sales and a significant jump in earnings when it hands down its second quarter financial report.
The off-price department store retailer will report its results for the three months ended July 29, 2023, before the opening bell in New York on Thursday, August 24.
The company has guided that its total sales will increase by 8% to 10% from the year-ago quarter, when Burlington Stores reported sales of $1.99 billion.
It expects adjusted earnings per share (EPS) in the range of $0.35 to $0.45, compared to adjusted EPS of $0.35 for 2Q 2022.
Analysts expect EPS to come in at the high end of this range at $0.43, per Zacks Consensus Estimate.
They forecast year-over-year sales growth of 9.2% to $2.17 billion.
The company’s Burlington 2.0 strategy with initiatives across marketing, merchandise, and store prototypes is thought to have contributed to the retailer’s expected strong performance for 2Q, according to Zacks.
Burlington Stores shares had added 3.4% at US$169.40 on Wednesday afternoon ahead of its 2Q results. The stock is down 17.8% so far in 2023.
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