Burlington Stores, Inc. · NYSE:BURL
Burlington Stores — Q2 2026 Earnings Presentation
23 slides from Burlington Stores's earnings presentation, Aug 27, 2026
Slide 1: Burlington Stores Investor Presentation
Burlington Stores Investor Presentation August 2026 Proprietary and confidential
Slide 2: Disclaimer
Disclaimer Forward Looking Statements This presentation contains forward-looking statements that are based on current expectations, estimates, forecasts and projections about Burlington Stores, Inc., together with its consolidated subsidiaries including, without limitation, Burlington Coat Factory W
Slide 3: Overview
Overview About Burlington 4 Off-Price Retail 8 Burlington’s Path Forward 11 Financial Performance & Guidance 19 Appendix 21 3
Slide 4: Who We Are
Who We Are Nationally recognized off-price retailer of high-quality, branded apparel, footwear, accessories, and home merchandise at up to 60% off other retailers’ prices National footprint with 1,287 stores in 47 states, Washington D.C. and Puerto Rico; attractive store economics and the potential
Slide 5: Business Highlights
Business Highlights Broad Merchandise Assortment (FY2025) National Store Footprint Midwest Northeast Outerwear 232 Stores 243 Stores 3% Ladies West WA Apparel 171 Stores 20 VT Home 20% MT ND ME 2 20% OR 9 ID 1 MN 15 NH 6 WI NY 3 SD MI MA 29 WY 19 76 2 38 1 IA PA RI 6 NV NE 5 45 CT 19 OH 18 6 IL IN N
Slide 6: Executive Team
Executive Team Michael O’Sullivan joined Burlington as Chief Executive Officer in September 2019. He previously spent 16 years at Ross Stores, where he rose to President and Chief Operating Officer. Before Ross, Michael was a Partner at Bain & Company, advising retail clients on strategy and perform
Slide 7: Overview
Overview About Burlington 4 Off-Price Retail 8 Burlington’s Path Forward 11 Financial Performance & Guidance 19 Appendix 21 7
Slide 8: Off-Price Retail
Off-Price Retail Same Branded Assortment: across all categories at significantly lower prices versus other retailers with products at up to 60% off Ability to Capitalize on Market Disruptions: taking advantage of order cancellations and excess inventory in the retail marketplace to source merchandis
Slide 9: Off-Price Shoppers
Off-Price Shoppers Off-Price has strong appeal across different demographic groups Customer dollar contribution¹, Total US Retail vs. Total Off-Price vs. Total Burlington Age HH income Ethnicity Household Size 18-24 7% 10% 12% Single 12% 13% 13% 25-34 17% 30% 17% 37% 21% 52% 24% $100k+ 58% 56% Cauca
Slide 10: Overview
Overview About Burlington 4 Off-Price Retail 8 Burlington’s Path Forward 11 Financial Performance & Guidance 19 Appendix 21 10
Slide 11: Burlington 2.0: Building a Stronger Off-Price Business
Burlington 2.0: Building a Stronger Off-Price Business • Burlington 2.0 is our long-term strategic initiative designed to transform the company into a high-performing off-price retailer by adopting a more rigorous and efficient operating model. The strategy is focused on strengthening execution acro
Slide 12: Burlington 2.0: Strategy
Burlington 2.0: Strategy Chase the Sales More Operational Trend Flexibility • Hold and tightly control • Faster, more responsive liquidity supply chain • Fuel the trend with • More flexible store opportunistic buys staffing model Operate with Leaner Smaller Store Inventories Format • Drive faster tu
Slide 13: Burlington 2.0: Operating Framework
Burlington 2.0: Operating Framework Stores Merchandising • Redesign stores with • Drive assortment value by prioritizing new interior layouts, fashion, quality, brand, and price. signage, and fixtures to • Leverage our merchandising team and better highlight our tools to effectively respond to chang
Slide 14: Burlington 2.0: Financial Goals
Burlington 2.0: Financial Goals Operating Margin Expansion Driven By: Higher Comparable Store Sales Growth • Using Liquidity to Chase Sales • Strengthening Buying & Planning Higher Merchandise Margins • Faster Turns, Lower Markdowns Lower Supply Chain & Freight Costs • DC Productivity Initiatives •
Slide 15: Transformation of the Store Base
Transformation of the Store Base Multiple initiatives are underway simultaneously – new stores, relocations, and downsizes – collectively reshaping the store base over time. Store Base Composition 2019 - 2028 ~1,545 ~1,435 ~1,325 1,212 1,108 927 1,007 727 2019 2022 2023 2024 2025 2026E 2027E 2028E (
Slide 16: Economics: New Stores, Relocations & Downsizes
Economics: New Stores, Relocations & Downsizes As Total Average Selling Sq Ft is Decreasing... New Stores 44,000 • New stores average ~$7M in Year 1 sales, or ~70% of mature store productivity 33,000 • New stores comp ahead of the chain for several 31,000 29,000 28,000 years upon entering the comp b
Slide 17: Long Term Growth Model Targets
Long Term Growth Model Targets Low Double-Digit Average Annual Sales Growth • Driven by new store openings and comp stores sales growth • Comp growth could vary year-to-year but average mid-single digits New Store Growth Plan • Approximately 500 net new stores (2024-2028) • Potential to expand store
Slide 18: Long Term Growth Model: Progress vs. Financial Targets
Long Term Growth Model: Progress vs. Financial Targets Progress to Date Long-Term Target Long Term Growth Model 2024 - 2025¹ 2024 - 2028 Total Sales Growth CAGR +10% +11% Merchandise Margin 90 bps higher - Freight Expense 50 bps lower - Gross Margin 140 bps higher - Product Sourcing Costs 60 bps low
Slide 19: Long Term Growth Model: Earnings Performance
Long Term Growth Model: Earnings Performance Adjusted EPS has consistently grown well over 20% annually since launching our long-term growth plan Adjusted EPS Growth¹ Q1 2026 Q2 2026 TTM EPS Growth 26% 38% 24% Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 EPS Growth 18% 39% 16% 21% 22% Q1 2024 Q2 2024 Q3
Slide 20: Overview
Overview About Burlington 4 Off-Price Retail 8 Burlington’s Path Forward 11 Financial Performance & Guidance 19 Appendix 21 20
Slide 21: Financial Highlights and Outlook
Financial Highlights and Outlook Financial Highlights Q2 2026 Total Sales Growth +11% Comparable Store Sales Growth +2% Gross Margin1 60 bps higher Merchandise Margin 70 bps higher Freight Expense 10 bps higher Adjusted EBIT Margin1 100 bps higher Adjusted EPS1 $2.37 Adjusted EPS Growth1 +38% Outloo
Slide 22: Overview
Overview About Burlington 4 Off-Price Retail 8 Burlington’s Path Forward 11 Financial Performance & Guidance 19 Appendix 21 22
Slide 23: Adjusted Net Income and EBIT
Adjusted Net Income and EBIT Historical Adjusted EPS Reconciliation ($ in millions) FY 231 FY 24 FY25 Q2 25 Q2 26 Net Income $ 339.6 $ 503.6 $ 610.2 $ 94.2 $ 184.3 Net Favorable Lease Costs 15.3 11.2 7.7 1.9 2.0 Loss on Extinguishment of Debt 38.3 1.4 - - - Costs Related to Debt Amendments and Induc