Total sales for the quarter ended May 2, 2026, increased 14 per cent year on year (YoY) to $2.85 billion, while comparable store sales rose 6 per cent, outperforming the company’s earlier expectations. The performance follows a 6 per cent increase in comparable sales during the same period last year.
Burlington Stores reported strong first-quarter fiscal 2026 results, with total sales rising 14 per cent to $2.85 billion and comparable store sales increasing 6 per cent.
Adjusted EPS grew 26 per cent to $2.10, marking the retailer’s 14th consecutive quarter of double-digit EPS growth.
Burlington raised its full-year guidance and now expects adjusted EPS between $11.45 and $11.80.
“We are pleased with our strong performance in the first quarter. Adjusted EPS grew 26 per cent versus the first quarter of last year, which represented our 14th consecutive quarter of double-digit EPS growth,” said Michael O’Sullivan, chief executive officer of Burlington Stores.
“This track record demonstrates our ability to consistently convert sales into operating margin expansion thereby driving strong earnings flow-through,” he added.
Net income increased to $115 million, or $1.79 per diluted share, compared to $101 million, or $1.58 per share, in the first quarter of fiscal 2025, Burlington said in a press release.
The adjusted net income rose to $134 million, or $2.1 per diluted share, from $107 million, or $1.67 per share, excluding expenses related to bankruptcy-acquired leases. Adjusted earnings per share (EPS) increased 26 per cent YoY, marking Burlington’s 14th consecutive quarter of double-digit EPS growth.
SG&A expenses remain stable in Q1
Gross margin improved to 44.1 per cent of net sales from 43.8 per cent a year earlier, supported by stronger merchandise margins and lower freight expenses as a proportion of sales.
Adjusted EBIT margin expanded by 20 basis points, driven by higher-than-expected sales, gross margin improvement and leverage on supply chain expenses.
O’Sullivan said: “Total sales increased 14 per cent, while comparable store sales increased 6 per cent, well ahead of our guidance. Adjusted EBIT Margin increased 20 basis points, again well ahead of our guidance.”
Selling, general and administrative (SG&A) expenses remained stable at 34.7 per cent of net sales, while adjusted SG&A increased slightly to 26.8 per cent from 26.6 per cent.
Burlington plans 115 new store openings in FY26
Burlington raised its full-year fiscal 2026 outlook following the strong quarterly performance. The company now expects total sales to increase between 9 per cent and 11 per cent, with comparable store sales projected to grow between 2 per cent and 4 per cent.
Adjusted EPS for the full year is forecast in the range of $11.45 to $11.80, compared to adjusted EPS of $10.17 in fiscal 2025.
“We are raising our full year Fiscal 2026 sales and earnings guidance, passing through the entire upside from the first quarter to the full year,” O’Sullivan said.
The company plans to open approximately 115 net new stores during fiscal 2026 and expects capital expenditure, net of landlord allowances, to reach around $875 million.
For the second quarter of fiscal 2026, Burlington expects total sales growth of 10 per cent to 12 per cent and comparable store sales growth of 1 per cent to 3 per cent. Adjusted EPS is projected between $2.05 and $2.2.
Fibre2Fashion News Desk (SG)
