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Burlington Stores Inc BURL reported third-quarter FY21 sales growth of 38.2% year-on-year, to $2.30 billion, beating the analyst consensus of $2.23 billion. Total sales increased 30%, and comparable-store sales increased 16% versus Q3 of FY19.
- The gross margin contracted by 100 basis points against Q3 FY19 to 41.4%.
- The total costs and expenses grew 38.2% Y/Y to $2.3 billion.
- Adjusted EBITDA increased 6.7% from Q3 FY19 to $205 million, while the margin contracted 190 basis points.
- Adjusted EPS of $1.36 beat the analyst consensus of $1.26.
- The company held $1.2 billion in cash and equivalents as of October 30, 2021. Cash provided by operating activities for the nine months totaled $608 million.
- "As predicted, freight and supply chain headwinds pressured margins in Q3," said CEO Michael O'Sullivan.
- Burlington Stores did not provide sales or earnings guidance for FY21 at this time., citing uncertainty surrounding the pace of the recovery of consumer demand and the ongoing COVID-19 pandemic.
- Price Action: BURL shares are trading higher by 7.79% at $283.49 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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