Burlington Stores Inc

Q1 results: strong, broad-based growth + earnings flow-through - EPS: +$2.10, up 26% YoY (14th straight quarter of double-digit EPS growth). - Sales: Total sales +14% YoY; comp sales +6% YoY (well ahead of guidance 2%–4%). - Profitability: Operating margin +20 bps YoY, 100 bps above the midpoint of guidance (management had expected margin decline). - Drivers cited: merchant margin +20 bps (better markdown discipline + buy quality) and supply chain productivity +30 bps, plus freight leveraging +10 bps despite fuel pressure.

Updated full-year 2026 guidance: raised across sales and EPS - Comp sales: now +2% to +4% (no change in range stated, but raised implied by passing through Q1 upside). - Total sales: now expected +9% to +11% (vs original 8%–10%). - EPS: now expected +$11.45 to $11.80, i.e. +13% to +16% YoY (raised by passing through Q1 upside). - Margin expectation (full year): adjusted EBIT margin expansion 10–30 bps YoY. - Capital expenditures: ~$875M (net of landlord allowances).

Near-term outlook (Q2 and “back half”): confidence even with tougher comps - Q2 comp sales: guided +1% to +3% (modest growth). - Q2 operating margin: guided +30 to +60 bps YoY, implying strong bottom-line growth despite slower comps. - Q2 EPS: $2.05 to $2.20 (vs $1.72 prior year second quarter), i.e. +19% to +28% YoY. - Back half (unchanged): comps expected +1% to +3%; EPS expected $7.30 to $7.50.