Burlington Stores' Q2 Profit Surges, Raises Fiscal 2024 Outlook
Strong sales growth and margin improvements drive Burlington's earnings to surpass expectations, with plans for significant store expansion.
- Burlington's Q2 earnings per share hit $1.24, beating the expected 95 cents.
- Total revenue rose 13.4% year-over-year to $2.47 billion.
- The company plans to open 100 net new stores in fiscal 2024.
- Improved supply chain efficiency and lower markdowns boosted profitability.
- Fiscal 2024 sales and earnings forecasts have been raised.
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