Burlington Stores Files 10-Q, Details Debt and Buybacks
Ticker: BURL · Form: 10-Q · Filed: 2024-05-30T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, debt, stock-repurchase
Related Tickers: BURL
TL;DR
BURL 10-Q filed: Debt levels and stock buybacks updated. Financials look stable.
AI Summary
Burlington Stores, Inc. filed its 10-Q for the period ending May 4, 2024. The company reported on its financial performance and condition, including details on its long-term debt and capital lease obligations. The filing also references its 2021 stock repurchase program, which was amended on August 15, 2023.
Why It Matters
This filing provides investors with an update on Burlington's financial health, including its debt levels and capital management strategies, which can influence its stock price and future growth prospects.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.
Key Players & Entities
- Burlington Stores, Inc. (company) — Filer
- May 4, 2024 (date) — Reporting period end date
- August 15, 2023 (date) — Date of amendment to stock repurchase program
- 2021 (date) — Year of original stock repurchase program
FAQ
What is the total amount of long-term debt and capital lease obligations reported by Burlington Stores as of May 4, 2024?
The filing references 'LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent' but does not provide a specific dollar amount in the provided text snippet.
When was the stock repurchase program initiated by Burlington Stores?
The stock repurchase program was initiated in 2021, as indicated by the reference 'burl:TwoThousandTwentyOneStockRepurchaseProgramsMember'.
Has the stock repurchase program been amended since its inception?
Yes, the stock repurchase program was amended on August 15, 2023.
What is the fiscal year end for Burlington Stores?
Burlington Stores' fiscal year ends on February 1st (0201).
What is the primary business of Burlington Stores, Inc. according to the SIC code?
According to the Standard Industrial Classification code [5311], Burlington Stores, Inc. is in the RETAIL-DEPARTMENT STORES industry.
From the Filing
0000950170-24-066612.txt : 20240530 0000950170-24-066612.hdr.sgml : 20240530 20240530161541 ACCESSION NUMBER: 0000950170-24-066612 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 79 CONFORMED PERIOD OF REPORT: 20240504 FILED AS OF DATE: 20240530 DATE AS OF CHANGE: 20240530 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Burlington Stores, Inc. CENTRAL INDEX KEY: 0001579298 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DEPARTMENT STORES [5311] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 800895227 STATE OF INCORPORATION: DE FISCAL YEAR END: 0201 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-36107 FILM NUMBER: 241005621 BUSINESS ADDRESS: STREET 1: 1830 ROUTE 130 NORTH CITY: BURLINGTON STATE: NJ ZIP: 08016 BUSINESS PHONE: 6093877800 MAIL ADDRESS: STREET 1: 1830 ROUTE 130 NORTH CITY: BURLINGTON STATE: NJ ZIP: 08016 FORMER COMPANY: FORMER CONFORMED NAME: Burlington Holdings, Inc. DATE OF NAME CHANGE: 20130613 10-Q 1 burl-20240504.htm 10-Q 10-Q false 0001579298 Q1 --02-01 http://fasb.org/us-gaap/2023#ProductMember http://fasb.org/us-gaap/2023#ProductMember http://www.burlingtoncoatfactory.com/20240504#LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent http://fasb.org/us-gaap/2023#LongTermDebtAndCapitalLeaseObligationsCurrent http://fasb.org/us-gaap/2023#LongTermDebtAndCapitalLeaseObligations http://www.burlingtoncoatfactory.com/20240504#LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent http://www.burlingtoncoatfactory.com/20240504#LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent http://www.burlingtoncoatfactory.com/20240504#LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent 0001579298 burl:TwoThousandTwentyOneStockRepurchaseProgramsMember 2023-08-15 0001579298 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-28 0001579298 burl:AmendedABLSeniorSecuredRevolvingFacilityMember us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2024-02-04 2024-05-04 0001579298 srt:MaximumMember us-gaap:LetterOfCreditMember burl:ABLSeniorSecuredRevolvingFacilityMember 2024-02-03 0001579298 burl:NewConvertibleSeniorNotesMember us-gaap:PrivatePlacementMember 2023-09-12 0001579298 burl:GuaranteePerformanceUnderInsuranceAndUtilityAgreementMember 2024-02-03 0001579298 burl:NonVestedRestrictedStockMember 2024-02-03 0001579298 us-gaap:FairValueInputsLevel1Member 2024-02-03 0001579298 us-gaap:RetainedEarningsMember 2023-04-29 0001579298 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestRateSwapMember us-gaap:CashFlowHedgingMember 2021-06-22 2021-06-24 0001579298 burl:GuaranteePerformanceUnderInsuranceAndUtilityAgreementMember 2023-04-29 0001579298 burl:NewConvertibleSeniorNotesMember 2024-05-04 0001579298 burl:SeniorSecuredTermB6LoanMember 2024-02-03 0001579298 burl:JenniferVecchioMember 2024-05-04 0001579298 us-gaap:AdditionalPaidInCapitalMember 2024-02-04 2024-05-04 0001579298 burl:SeniorSecuredTermB6LoanMember 2023-04-29 0001579298 burl:SecuredOvernightFinancingRateFloorMember burl:SeniorSecuredTermB6LoanMember 2023-01-29 2023-04-29 0001579298 us-gaap:CommonStockMember 2024-05-04 0001579298 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-02-04 2024-05-04 0001579298 us-gaap:RestrictedStockUnitsRSUMember 2024-02-04 2024-05-04 0001579298 us-gaap:InterestRateSwapMember us-gaap:OtherAssetsMember 2024-05-04 0001579298 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2023-01-29 2023-04-29 0001579298 burl:ConvertibleSeniorNotesTwoPointTwoFivePercentageDueAprilFifteenTwoThousandTwentyFiveMember 2023-01-29 2023-04-29 0001579298 burl:AmendedABLSeniorSecuredRevolvingFacilityMember srt:MaximumMember us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2024-02-04 2024-05-04 0001579298 us-gaap:RetainedEarningsMember 2023-01-28 0001579298 burl:PerformanceStockUnitGrantsMember 2023-01-29 2023-04-29 0001579298 us-gaap:RetainedEarningsMember 2024-05-04 0001579298 us-gaap:FairValueInputsLevel1Member 2024-05-04 0001579298 us-