Executive Summary

• Burlington Stores reported 2Q17 adjusted EPS of $0.72, up from $0.39 in the year-ago quarter and above both the $0.51 consensus estimate and the company’s own guidance. Total revenues were $1.36 billion, up 8.6% year over year and slightly above the $1.35 billion consensus estimate.
• Comparable-store sales rose by 3.5% during the quarter, compared with a 5.4% increase in the year-ago quarter and ahead of both the 2.8% consensus estimate and the company’s guidance of 2%–3%. Comp growth was driven by an increase in traffic and units per transaction.
• The company raised its FY17 adjusted EPS guidance to $4.11–$4.18 from $3.86–$3.96; consensus calls for full-year EPS of $3.98. Burlington Stores expects FY17 comp growth of 2.0%–2.5%, versus the 2.4% consensus estimate.