Burlington Stores Defies Expectations With Q2 Performance, But Caution Remains
Burlington Stores Defies Expectations With Q2 Performance, But Caution Remains
Burlington Stores $Burlington Stores (BURL.US)$ shares are trading higher after the company reported better-than-expected second-quarter financial results.
伯灵顿百货 $伯灵顿百货 (BURL.US)$ 公司公布了超出预期的第二季度财务报告后，伯灵顿百货的股价上涨。
Quarterly revenue grew 13% year-over-year to $2.46 billion, beating the consensus of $2.415 billion. Comparable store sales increased by 5%. Adjusted EPS rose 98% YoY to $1.24, beating the consensus of $0.95.
季度营业收入同比增长13%，达到24.6亿美元，超过预期的24.15亿美元。可比门店销售增长了5%。调整后的每股收益同比增长了98%，达到1.24美元，超过预期的0.95美元。
Gross margin was 42.8% vs. 41.7% for the quarter, an increase of 110 basis points. At the end of the quarter, merchandise inventories were $1.223 billion vs. $1.162 billion last year.
本季度的毛利率为42.8%，高于上季度的41.7%，增加了110个基点。季末，商品库存为12.23亿美元，而去年为11.62亿美元。
Adjusted EBITDA stood at $201.84 million vs. $140.84 million last year, with the margin expanding 171 bps to 8.2%. Adjusted SG&A was 27.1% of net sales vs. 27% a year ago, an increase of 10 bps.
调整后的息税折旧及摊销前利润(EBITDA)为2,018.4万美元，而去年为1,408.4万美元，利润率扩大了171个基点，达到8.2%。调整后的销售,一般和管理费用支出为净销售额的27.1%，而去年为27%，增加了10个基点。
The company ended the quarter with $1.476 billion in liquidity, comprised of $660 million in unrestricted cash and $816 million in availability on its ABL facility. The company held $1.402 billion in outstanding total debt.
本季度结束时，公司可用流动资金为14.76亿美元，其中无限制现金为6600万美元，ABL业务可用性为8160万美元。公司总债务为14.02亿美元。
During the quarter, BURL repurchased 269,508 shares of its common stock for $61 million under its share repurchase program. BURL had $380 million remaining on its current share repurchase program.
本季度，伯灵顿百货回购了269,508股普通股，回购金额为6100万美元。现有的回购计划余额为3800万美元。
"We saw very strong margin improvement and earnings growth during the second quarter. Our Adjusted EBIT Margin and Adjusted EPS increased 160 basis points and 98%, respectively. This strong performance was driven by the ahead of plan sales, as well as a significant increase in gross margin, and faster than expected progress in our supply chain efficiency initiatives," commented Michael O'Sullivan, CEO.
在第二季度，我们看到了非常强劲的毛利率提升和盈利增长。我们的调整后EBIT率和调整后每股收益分别增长了160个基点和98%。这种强劲的表现是由于销售超出预期计划，以及毛利率的显著提高，以及我们供应链效率改进措施的进展超过预期。迈克尔·奥沙利文（CEO）评论道。
"Based on our year-to-date performance, we are increasing our margin and earnings guidance for the full year, despite some incremental cost pressure from ocean freight. That said, there are some risks, so we are planning our business cautiously, and maintaining our comparable store sales guidance of 0% to 2% growth for the second half. As we did during the second quarter, we will chase if the underlying sales trend is stronger," added O'Sullivan.
根据我们截至目前的业绩，尽管来自海运的一些增量成本压力，我们将增加全年的毛利率和盈利预期。尽管如此，我们仍然计划谨慎经营业务，并将我们的可比店铺销售指导增长范围设为0%至2%。与第二季度一样，如果基础销售趋势更强劲，我们将跟进。奥沙利文补充道。
Burlington expects YoY sales growth of 10%- 12% and assumes comparable store sales to increase between 0% and 2%. The company sees adjusted EPS of $1.45 – $1.55 versus the consensus of $1.36.
伯灵顿百货预计年度销售增长10%至12%，并预计可比店铺销售增长0%至2%。公司将调整后每股收益预期设定为1.45美元至1.55美元，而市场共识为1.36美元。
Burlington expects sales growth of 9% – 10% (prior view 8%- 10%), equaling to a sales guidance of $10.6 billion – $10.7 billion vs $10.6 billion estimate and assumes comparable store sales will increase by 2% to 3%.
伯灵顿百货预计销售增长9%至10%（之前预期为8%-10%），相当于销售指导为106亿美元至107亿美元，而市场预期为106亿美元，并预计可比店铺销售将增长2%至3%。
The company raised its adjusted EPS guidance to $7.66 – $7.96 from $7.35 – $7.75, compared to the $7.69 consensus.
该公司将调整后每股收益指导提升至7.66美元至7.96美元，而原先的指导为7.35美元至7.75美元，相比市场共识的7.69美元。