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Burlington Stores (BURL) to Post Q2 Results: A Peek Into Comps
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Market watchers are eagerly awaiting Burlington Stores, Inc.’s (BURL - Free Report) second-quarter fiscal 2023 earnings results, scheduled to be reported on Aug 24 before market open. This time too investors’ focus will center around comparable store sales, the key metric to gauge the company’s performance.
Insights Into Comparable Sales
Before delving into the second quarter, let's revisit the first quarter.
Comparable store sales showcased decent growth of 4% in the first quarter. However, the figure came slightly below management’s guided range of 5-7%. While such a performance reflects resilience, external forces played a spoilsport. Burlington Stores faced challenges related to lower tax refunds and cooler weather. Per management, these factors led to a temporary slowdown.
Despite the first-quarter deceleration, sales momentum rekindled post-mid-April, a trend that persisted in May. This indicates that the challenges witnessed were transitory in nature, thereby setting a more optimistic tone for the second quarter. Nonetheless, Burlington Stores took a conservative stance and projected 2-4% growth in comparable store sales. We expect a comparable store sales increase of 3% for the quarter under discussion.
Burlington Stores, Inc. Price, Consensus and EPS Surprise
Markedly, the Burlington 2.0 strategy is poised to have driven significant improvements for the company. This comprehensive initiative targets marketing, merchandising and store prototypes. The ability to quickly respond to evolving market dynamics and adjust inventory levels based on real-time data insights have been enabling the company to seize opportunities. No wonder, management has been boosting assortments and merchandising capabilities for a while.
How Are Estimates Shaping Up?
The Zacks Consensus Estimate for revenues stands at $2,172 million, indicating an increase of 9.2% from the prior-year reported figure. The consensus mark for earnings per share has been stable at 43 cents over the past 30 days. The figure suggests growth of roughly 22.9% from the year-ago period.
Burlington Stores has an Earnings ESP of +2.81% and a Zacks Rank #3. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
3 More Stocks With the Favorable Combination
Here are three other companies you may want to consider as our model shows that these too have the right combination of elements to post an earnings beat:
American Eagle Outfitters (AEO - Free Report) currently has an Earnings ESP of +8.52% and a Zacks Rank #2. The company is likely to register a bottom-line increase when it reports second-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of 15 cents suggests a sharp increase from 4 cents reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Eagle Outfitters’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.19 billion, which indicates a marginal decline of 0.9% from the figure reported in the prior-year quarter. American Eagle Outfitters has a trailing four-quarter earnings surprise of 9.2%, on average.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +1.03% and carries a Zacks Rank #3. The company is likely to register a bottom-line decrease when it reports first-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $3.39 suggests a drop of 17.1% from the year-ago quarter.
Casey's General Stores’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.85 billion, which indicates a drop of 13.5% from the figure reported in the prior-year quarter. CASY has a trailing four-quarter earnings surprise of 7.5%, on average.
Costco (COST - Free Report) currently has an Earnings ESP of +1.08% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports fourth-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $4.72 suggests a rise of 12.4% from the year-ago reported number.
Costco’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $78.86 billion, which calls for an increase of 9.4% from the prior-year quarter. COST has a trailing four-quarter earnings surprise of 1.8%, on average.
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Burlington Stores (BURL) to Post Q2 Results: A Peek Into Comps
Market watchers are eagerly awaiting Burlington Stores, Inc.’s (BURL - Free Report) second-quarter fiscal 2023 earnings results, scheduled to be reported on Aug 24 before market open. This time too investors’ focus will center around comparable store sales, the key metric to gauge the company’s performance.
Insights Into Comparable Sales
Before delving into the second quarter, let's revisit the first quarter.
Comparable store sales showcased decent growth of 4% in the first quarter. However, the figure came slightly below management’s guided range of 5-7%. While such a performance reflects resilience, external forces played a spoilsport. Burlington Stores faced challenges related to lower tax refunds and cooler weather. Per management, these factors led to a temporary slowdown.
Despite the first-quarter deceleration, sales momentum rekindled post-mid-April, a trend that persisted in May. This indicates that the challenges witnessed were transitory in nature, thereby setting a more optimistic tone for the second quarter. Nonetheless, Burlington Stores took a conservative stance and projected 2-4% growth in comparable store sales. We expect a comparable store sales increase of 3% for the quarter under discussion.
Burlington Stores, Inc. Price, Consensus and EPS Surprise
Burlington Stores, Inc. price-consensus-eps-surprise-chart | Burlington Stores, Inc. Quote
Markedly, the Burlington 2.0 strategy is poised to have driven significant improvements for the company. This comprehensive initiative targets marketing, merchandising and store prototypes. The ability to quickly respond to evolving market dynamics and adjust inventory levels based on real-time data insights have been enabling the company to seize opportunities. No wonder, management has been boosting assortments and merchandising capabilities for a while.
How Are Estimates Shaping Up?
The Zacks Consensus Estimate for revenues stands at $2,172 million, indicating an increase of 9.2% from the prior-year reported figure. The consensus mark for earnings per share has been stable at 43 cents over the past 30 days. The figure suggests growth of roughly 22.9% from the year-ago period.
Burlington Stores has an Earnings ESP of +2.81% and a Zacks Rank #3. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
3 More Stocks With the Favorable Combination
Here are three other companies you may want to consider as our model shows that these too have the right combination of elements to post an earnings beat:
American Eagle Outfitters (AEO - Free Report) currently has an Earnings ESP of +8.52% and a Zacks Rank #2. The company is likely to register a bottom-line increase when it reports second-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of 15 cents suggests a sharp increase from 4 cents reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Eagle Outfitters’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.19 billion, which indicates a marginal decline of 0.9% from the figure reported in the prior-year quarter. American Eagle Outfitters has a trailing four-quarter earnings surprise of 9.2%, on average.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +1.03% and carries a Zacks Rank #3. The company is likely to register a bottom-line decrease when it reports first-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $3.39 suggests a drop of 17.1% from the year-ago quarter.
Casey's General Stores’ top line is expected to decrease year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $3.85 billion, which indicates a drop of 13.5% from the figure reported in the prior-year quarter. CASY has a trailing four-quarter earnings surprise of 7.5%, on average.
Costco (COST - Free Report) currently has an Earnings ESP of +1.08% and a Zacks Rank of 3. The company is likely to register an increase in the bottom line when it reports fourth-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $4.72 suggests a rise of 12.4% from the year-ago reported number.
Costco’s top line is expected to ascend year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $78.86 billion, which calls for an increase of 9.4% from the prior-year quarter. COST has a trailing four-quarter earnings surprise of 1.8%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.