Burlington Stores sees Q2 heating up

Burlington Stores Inc. is upping its guidance for several key fiscal metrics in the second quarter of fiscal 2016.



The retailer now expects second quarter adjusted net income per share to total $0.28 to $.30, up from a previously announced range of $0.20-$0.23 per share and compared to $0.19 in the same period the previous year. Burlington Stores also currently anticipates adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in the range of $88 to $90 million, compared to the prior year figure of $75.4 million.



In addition, the company is estimating same-store sales will rise 4.2%-4.5%, compared to a previous estimate of 2.5%-3.5%. The increased same-store sales prediction is based on Burlington Stores’ results for the quarter to date and expectations for the remainder of July.



Furthermore, Burlington Stores announced it is seeking commitments from lenders under a new senior secured credit facility for an aggregate principal amount of about $1.12 billion, maturing in 2021. The net proceeds will be used to repay a previous loan and related fees and expenses.



The company will update its full-year guidance when it announces second quarter results.