Burlington Stores Defies Expectations With Q2 Performance, But Caution Remains
Burlington Stores Defies Expectations With Q2 Performance, But Caution Remains
Adjusted Burlington Stores $Burlington Stores (BURL.US)$ shares are trading higher after the company reported better-than-expected second-quarter financial results.
伯靈頓百貨 $伯靈頓百貨 (BURL.US)$ 公司公佈了超出預期的第二季度財務報告後，伯靈頓百貨的股價上漲。
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.
季度營業收入同比增長13%，達到24.6億美元，超過預期的24.15億美元。可比門店銷售增長了5%。調整後的每股收益同比增長了98%，達到1.24美元，超過預期的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.
本季度的毛利率爲42.8%，高於上季度的41.7%，增加了110個點子。季末，商品庫存爲12.23億美元，而去年爲11.62億美元。
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.
調整後的息稅折舊及攤銷前利潤(EBITDA)爲2,018.4萬美元，而去年爲1,408.4萬美元，利潤率擴大了171個點子，達到8.2%。調整後的銷售,一般和管理費用支出爲淨銷售額的27.1%，而去年爲27%，增加了10個點子。
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.
本季度結束時，公司可用流動資金爲14.76億美元，其中無限制現金爲6600萬美元，ABL業務可用性爲8160萬美元。公司總債務爲14.02億美元。
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，伯靈頓百貨回購了269,508股普通股，回購金額爲6100萬美元。現有的回購計劃餘額爲3800萬美元。
"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，我們看到了非常強勁的毛利率提升和盈利增長。我們的調整後EBIT率和調整後每股收益分別增長了160個點子和98%。這種強勁的表現是由於銷售超出預期計劃，以及毛利率的顯著提高，以及我們供應鏈效率改進措施的進展超過預期。邁克爾·奧沙利文（CEO）評論道。
"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.
根據我們截至目前的業績，儘管來自海運的一些增量成本壓力，我們將增加全年的毛利率和盈利預期。儘管如此，我們仍然計劃謹慎經營業務，並將我們的可比店鋪銷售指導增長範圍設爲0%至2%。與第二季度一樣，如果基礎銷售趨勢更強勁，我們將跟進。奧沙利文補充道。
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.
伯靈頓百貨預計年度銷售增長10%至12%，並預計可比店鋪銷售增長0%至2%。公司將調整後每股收益預期設定爲1.45美元至1.55美元，而市場共識爲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%.
伯靈頓百貨預計銷售增長9%至10%（之前預期爲8%-10%），相當於銷售指導爲106億美元至107億美元，而市場預期爲106億美元，並預計可比店鋪銷售將增長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.
該公司將調整後每股收益指導提升至7.66美元至7.96美元，而原先的指導爲7.35美元至7.75美元，相比市場共識的7.69美元。