Burlington Stores, Inc. reported a significant increase in financial performance for the first quarter of Fiscal 2026, ending May 2, 2026. The company achieved total revenue of $2.86 billion, a 14% increase from $2.50 billion in the same period last year. Net income rose to $114.7 million, up from $100.8 million, resulting in a diluted earnings per share of $1.79 compared to $1.58 in the prior year. The growth in revenue was primarily driven by a 6% increase in comparable store sales, alongside contributions from 127 new stores opened since the end of the first quarter of Fiscal 2025.
The company's cost of sales also increased, totaling $1.59 billion, but as a percentage of net sales, it decreased to 55.9% from 56.2% in the previous year. This improvement was attributed to better merchandise margins and freight costs. Selling, general, and administrative expenses remained stable at 34.7% of net sales, reflecting a dollar increase of 14% to $989.4 million, largely due to the expansion of the store base and increased incentive compensation.
Burlington Stores continued its strategic expansion, opening 40 new stores during the quarter while closing four, bringing the total store count to 1,242 across 47 states, Washington D.C., and Puerto Rico. The company is focused on enhancing its merchandising strategy, which includes opportunistic buying and in-season purchasing to better align with consumer trends. Additionally, Burlington is investing in supply chain capabilities to support growth and improve operational efficiency.
The company’s liquidity position showed improvement, with cash and cash equivalents at $747.4 million, down from $1.23 billion at the beginning of the quarter. Burlington reported net cash provided by operating activities of $61.5 million, a turnaround from the cash used in operations of $28.9 million in the prior year. The company anticipates continued growth, with plans to open at least 100 net new stores annually, aiming for a long-term target of 2,000 stores.
Looking ahead, Burlington Stores faces challenges from macroeconomic conditions, including inflation and consumer spending patterns, which could impact its performance. However, the company remains optimistic about its growth trajectory, supported by its strategic initiatives and operational improvements.
About Burlington Stores, Inc.
Burlington Stores, Inc. is a U.S.-based off-price retailer offering a broad assortment of high-quality, branded merchandise at everyday low prices. Its product range includes apparel, footwear, accessories, home goods, and more, sourced opportunistically from national manufacturers. Operating over 1,100 stores across 46 states, Washington D.C., and Puerto Rico, Burlington targets value-conscious, brand-aware customers seeking a "treasure hunt" shopping experience in brick-and-mortar locations.
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