Executive Summary

• Burlington Stores, Inc. reported fiscal 4Q18 revenues of $1.99 billion, lower than the consensus estimate of $2.05 billion, and up 2.8% year over year. The company reported adjusted 4Q18 EPS of $2.83, higher than the consensus estimate of $2.77 and 28.1% higher than the year ago period, which excludes the impact of the third week and the revaluation of 2017 deferred tax liabilities.
• Fourth quarter comparable store sales increased 1.3%, lower than the consensus estimate of 3.2%.
• 1Q19 earnings per share guidance is $1.21-1.31, lower than the consensus estimate of $1.36. The company projects total sales to increase 7-9%, compared to the consensus estimate of 8.9%, and comps are expected to be 0-2% compared to the consensus estimate of 2.6%. For FY19, the company projects earnings per share of $6.93-7.06, compared to the consensus estimate of $7.06.