Burlington Stores Files Q3 10-Q with Financial Updates

TL;DR

BURL 10-Q filed: Financials updated, debt details, stock activity shown. Check it out.

AI Summary

Burlington Stores, Inc. filed its 10-Q for the period ending November 2, 2024. The filing details financial performance and operational updates. Key financial information, including debt obligations and stock activity, is presented within the report.

Why It Matters

This filing provides investors with a detailed look at Burlington's financial health and operational status as of Q3 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial details within can reveal risks or opportunities.

Key Numbers

• 2.25% — Convertible Senior Notes Interest Rate (Interest rate on specific debt due April 15, 2025.)
• 2025-04-15 — Convertible Senior Notes Maturity Date (Maturity date for the 2.25% Convertible Senior Notes.)
• 2031-09-24 — Long-Term Debt Maturity (Maturity date for certain long-term debt obligations.)

Key Players & Entities

• Burlington Stores, Inc. (company) — Filer of the 10-Q
• 0000950170-24-131050 (other) — Accession Number for the filing
• 20241102 (date) — Conformed Period of Report
• 001-36107 (other) — SEC File Number
• 2024-02-04 (date) — Date related to Treasury Stock activity
• 2024-05-04 (date) — Date related to Treasury Stock activity

FAQ

Filing Documents

• burl-20241102.htm (10-Q) — 2523KB
• burl-ex31_1.htm (EX-31.1) — 12KB
• burl-ex31_2.htm (EX-31.2) — 12KB
• burl-ex32_1.htm (EX-32.1) — 7KB
• burl-ex32_2.htm (EX-32.2) — 7KB
• img211804450_0.jpg (GRAPHIC) — 24KB
• 0000950170-24-131050.txt ( ) — 12042KB
• burl-20241102.xsd (EX-101.SCH) — 1367KB
• burl-20241102_htm.xml (XML) — 2955KB

—Financial Information

Part I—Financial Information 3

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 3 Condensed Consolidated Statements of Income - Three and Nine Months Ended November 2, 2024 and October 28, 2023 3 Condensed Consolidated Statements of Comprehensive Income – Three and Nine Months Ended November 2, 2024 and October 28, 2023 4 Condensed Consolidated Balance Sheets – November 2, 2024, February 3, 2024 and October 28, 2023 5 Condensed Consolidated Statements of Cash Flows – Nine Months Ended November 2, 2024 and October 28, 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 36

Controls and Procedures

Item 4. Controls and Procedures 36

—Other Information

Part II—Other Information 37

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37

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 Nine Months Ended November 2, October 28, November 2, October 28, 2024 2023 2024 2023 REVENUES: Net sales $ 2,526,174 $ 2,284,673 $ 7,344,685 $ 6,587,912 Other revenue 4,522 4,673 13,081 13,197 Total revenue 2,530,696 2,289,346 7,357,766 6,601,109 COSTS AND EXPENSES: Cost of sales 1,418,143 1,297,805 4,156,989 3,795,661 Selling, general and administrative expenses 893,092 826,822 2,582,299 2,357,736 Costs related to debt amendments 4,553 — 4,553 97 Depreciation and amortization 87,470 76,087 256,094 219,749 Impairment charges - long-lived assets 3,044 814 11,254 6,367 Other income - net ( 12,825 ) ( 12,384 ) ( 33,179 ) ( 27,549 ) Loss on extinguishment of debt 1,412 13,630 1,412 38,274 Interest expense 17,769 19,680 51,000 58,570 Total costs and expenses 2,412,658 2,222,454 7,030,422 6,448,905 Income before income tax expense 118,038 66,892 327,344 152,204 Income tax expense 27,441 18,341 84,473 40,013 Net income $ 90,597 $ 48,551 $ 242,871 $ 112,191 Net income per common share: Common stock - basic $ 1.43 $ 0.75 $ 3.81 $ 1.73 Common stock - diluted $ 1.40 $ 0.75 $ 3.77 $ 1.73 Weighted average number of common shares: Common stock - basic 63,563 64,707 63,723 64,852 Common stock - diluted 64,619 64,802 64,395 65,024 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 Nine Months Ended November 2, October 28, November 2, October 28, 2024 2023 2024 2023

View Full Filing

View this 10-Q filing on SEC EDGAR