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“We saw very strong margin improvement and earnings growth during the second quarter,” said CEO Michael O’Sullivan. “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.”

For fiscal 2024, Burlington expects sales to increase between 9% to 10%, up from its previous guidance of between 8% and 10%. Adjusted earnings per share are expected in the range of $7.66 and $7.96, up from its previous estimate of $7.35 and $7.75.