01—Abstract
Summary
Summary of the 10-Q filed November 25, 2025. Cited figures are marked; the original filing is the authoritative source.
Burlington Stores, Inc. reported a strong third quarter for fiscal year 2025, demonstrating robust revenue growth and improved profitability.
Net sales increased by 7.1% to $2.71 billiona, driven by both new store openings and a 1% increase in comparable store sales. This top-line growth, combined with operational efficiencies, led to a significant increase in net income, which rose 15.6% to $104.8 million for the quarter. The company continues to execute its growth strategy, expanding its store footprint while also focusing on optimizing margins through initiatives like improved markdown management and supply chain efficiencies.
For the first nine months of fiscal year 2025, net sales grew 7.7% to $7.91 billionb, with net income increasing by 23.4% to $299.8 million. The company's focus on comparable store sales growth, leaner inventories, and merchandising investments are contributing to these positive financial results. Burlington's financial position remains solid, supported by healthy operating cash flows and available credit facilities, enabling continued investment in store expansion and operational enhancements.
02—Key points
Key Highlights
- Net sales for the three months ended November 1, 2025, increased by 7.1% to $2.71 billion compared to the prior year.
- Net income for the three months ended November 1, 2025, increased by 15.6% to $104.8 million, with diluted EPS rising to $1.63 from $1.40.
- For the nine months ended November 1, 2025, net sales grew 7.7% to $7.91 billion, and net income increased 23.4% to $299.8 million.
- Comparable store sales increased by 1% for the third quarter and 2% for the first nine months of fiscal 2025.
- Gross margin as a percentage of net sales improved to 44.2% in Q3 fiscal 2025 from 43.9% in Q3 fiscal 2024, driven by lower freight costs and higher merchandise margin.
- The company opened 129 new stores (including 18 relocations) during the first nine months of fiscal 2025, bringing the total store count to 1,211.
- The company repurchased approximately $192 million of its common stock during the first nine months of fiscal 2025 and has $444.5 million remaining under its share repurchase authorization.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2026filed November 25, 2025Financial Statements
Q3 FY2026 against Q3 FY2025
| Line item | Q3 FY2026Q3 FY2025 | Change |
|---|---|---|
| Revenue | $2.71B$2.53B | +7.1% |
| Cost of Revenue | $1.51B$1.42B | +6.5% |
| Gross Profit | $1.20B$1.11B | +7.9% |
| SG&A Expenses | $947.52M$893.09M | +6.1% |
| Operating Expenses | $2.57B$2.41B | +6.6% |
| Net Income | $104.75M$90.60M | +15.6% |
| EPS (Basic) | $1.66$1.43 | +16.1% |
| EPS (Diluted) | $1.63$1.40 | +16.4% |
| Shares Outstanding (Basic) | 62.98M63.56M | −0.9% |
| Shares Outstanding (Diluted) | 64.07M64.62M | −0.9% |
05—Questions
Frequently Asked Questions
What was Burlington's revenue performance in the third quarter of fiscal year 2025?
Burlington Stores, Inc. reported a net sales increase of 7.1% to $2.71 billion for the three months ended November 1, 2025, compared to $2.53 billion in the same period last year. This growth was attributed to sales from new stores and a 1% increase in comparable store sales.
How did profitability change in the third quarter?
Net income for the third quarter of fiscal year 2025 rose by 15.6% to $104.8 million, or $1.63 per diluted share, up from $90.6 million, or $1.40 per diluted share, in the prior year's third quarter. This improvement was driven by higher sales and an increased gross margin rate.
What is the company's outlook on store expansion?
Burlington continues its strategic store expansion, opening 129 new stores (including 18 relocations) in the first nine months of fiscal 2025, bringing its total store count to 1,211. The company plans to continue expanding its retail store base, with an aim to operate 2,000 stores long-term, targeting an average of approximately 100 net new stores per year over the next five fiscal years.
What is the status of Burlington's debt and share repurchase programs?
As of November 1, 2025, Burlington had approximately $1.72 billion in its Term Loan Facility and $297 million in 2027 Convertible Notes. The company actively engaged in share repurchases, buying back $192 million of its common stock in the first nine months of fiscal 2025, with $444.5 million remaining under its current authorization.
06—Continue