Burlington Stores Files Q2 10-Q

TL;DR

BURL Q2 10-Q filed. Financials look steady, debt details included.

AI Summary

Burlington Stores, Inc. filed its 10-Q for the period ending August 3, 2024. The filing details the company's financial performance and position, including information on long-term debt and capital lease obligations. The company's fiscal year ends on February 1st.

Why It Matters

This filing provides investors with a detailed look at Burlington's financial health and operational status during the second quarter, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in the provided snippet.)
• N/A — Net Income (Specific net income figures are not detailed in the provided snippet.)
• N/A — Debt (Details on long-term debt and capital lease obligations are referenced but not quantified in the snippet.)

Key Players & Entities

• Burlington Stores, Inc. (company) — Filer
• 0000950170-24-101847 (filing_id) — Accession Number
• 20240803 (date) — Period of Report
• 20240829 (date) — Filing Date
• 0201 (date) — Fiscal Year End

FAQ

Filing Documents

• burl-20240803.htm (10-Q) — 2118KB
• burl-ex31_1.htm (EX-31.1) — 11KB
• burl-ex31_2.htm (EX-31.2) — 11KB
• burl-ex32_1.htm (EX-32.1) — 7KB
• burl-ex32_2.htm (EX-32.2) — 7KB
• img211781387_0.jpg (GRAPHIC) — 24KB
• 0000950170-24-101847.txt ( ) — 10413KB
• burl-20240803.xsd (EX-101.SCH) — 1345KB
• burl-20240803_htm.xml (XML) — 2336KB

—Financial Information

Part I—Financial Information 3

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 3 Condensed Consolidated Statements of Income - Three and Six Months Ended August 3, 2024 and July 29, 2023 3 Condensed Consolidated Statements of Comprehensive Income – Three and Six Months Ended August 3, 2024 and July 29, 2023 4 Condensed Consolidated Balance Sheets – August 3, 2024, February 3, 2024 and July 29, 2023 5 Condensed Consolidated Statements of Cash Flows – Six Months Ended August 3, 2024 and July 29, 2023 6 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 36

—Other Information

Part II—Other Information 36

Legal Proceedings

Item 1. Legal Proceedings 36

Risk Factors

Item 1A. Risk Factors 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 38

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements BURLINGTON STORES, INC. CONDENSED CONSOLIDATED S TATEMENTS OF INCOME (Unaudited) (All amounts in thousands, except per share data) Three Months Ended Six Months Ended August 3, July 29, August 3, July 29, 2024 2023 2024 2023 REVENUES: Net sales $ 2,461,193 $ 2,170,445 $ 4,818,510 $ 4,303,239 Other revenue 4,324 4,362 8,560 8,524 Total revenue 2,465,517 2,174,807 4,827,070 4,311,763 COSTS AND EXPENSES: Cost of sales 1,408,120 1,266,210 2,738,846 2,497,856 Selling, general and administrative expenses 863,981 775,285 1,689,207 1,530,913 Costs related to debt amendments — 97 — 97 Depreciation and amortization 86,659 73,133 168,624 143,662 Impairment charges - long-lived assets — 4,709 8,210 5,552 Other income - net ( 9,492 ) ( 6,165 ) ( 20,354 ) ( 15,163 ) Loss on extinguishment of debt — — — 24,644 Interest expense 16,582 19,545 33,231 38,890 Total costs and expenses 2,365,850 2,132,814 4,617,764 4,226,451 Income before income tax expense 99,667 41,993 209,306 85,312 Income tax expense 25,907 11,101 57,032 21,672 Net income $ 73,760 $ 30,892 $ 152,274 $ 63,640 Net income per common share: Common stock - basic $ 1.16 $ 0.48 $ 2.39 $ 0.98 Common stock - diluted $ 1.15 $ 0.47 $ 2.37 $ 0.98 Weighted average number of common shares: Common stock - basic 63,734 64,895 63,803 64,925 Common stock - diluted 64,328 65,039 64,284 65,141 See Notes to Condensed Consolidated Financial Statements. 3 BURLINGTON STORES, INC. CONDENSED CONSOLIDATED STATEM ENTS OF COMPREHENSIVE INCOME (Unaudited) (All amounts in thousands) Three Months Ended Six Months Ended August 3, July 29, August 3, July 29, 2024 2023 2024 2023 Net income $ 73,760 $ 30,892 $ 152,27

View Full Filing

View this 10-Q filing on SEC EDGAR