Burlington Stores, Inc. (BURL) Q1 2022 Earnings Call Transcript

For the period ending April 30, 2022

May 26, 2022 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by and welcome to the Burlington Stores Fiscal First Quarter Earnings Call. [Operator Instructions] I would now like to turn the call over to your host, David Glick, Senior Vice President of Investor Relations and Treasurer.

David Glick

Thank you, operator and good morning everyone. We appreciate everyone’s participation in today’s conference call to discuss Burlington’s fiscal 2022 first quarter operating results. Our presenters today are Michael O’Sullivan, our Chief Executive Officer and John Crimmins, Chief Financial Officer.

Before I turn the call over to Michael, I would like to inform listeners that this call may not be transcribed, recorded or broadcast without our expressed permission. A replay of the call will be available until June 2, 2022. We take no responsibility for inaccuracies that may appear in transcripts of this call by third-parties. Our remarks and the Q&A that follows are copyrighted today by Burlington Stores. Remarks made on this call concerning future expectations, events, strategies, objectives, trends or projected financial results are subject to certain risks and uncertainties.

Actual results may differ materially from those that are projected in such forward-looking statements. Such risks and uncertainties include those that are described in the company’s 10-K for fiscal 2021 and in other filings with the SEC, all of which are expressly incorporated herein by reference. Please note that the financial results and expectations we discuss today are on a continuing operations basis. Reconciliations of the non-GAAP measures we discuss today to GAAP measures are included in today’s press release.

Now, here is Michael.

Michael O’Sullivan

Thank you, David. Good morning, everyone and thank you for joining us. I would like to cover three topics this morning. Firstly, I will review our first quarter results. Secondly, I will discuss our outlook for Q2 and for the balance of the year. Thirdly, I will offer a few comments on the external real environment. And I will explain that while this environment may create near-term headwinds for us, we believe that it could drive longer term strategic benefits for our business. After that, I will hand the call over to John to walk through the financial details. Then we will be happy to respond to your questions.