Burlington Stores — Nov 25, 2025 release

O’Sullivan concluded, “Stepping back and looking at the longer-term drivers of our business, we are very pleased with our new store opening program and performance, our weather adjusted comp growth, and the rapid progress we are making in expanding our margin. As discussed previously, we expect our operating income to grow to approximately $1.6B by 2028. At this point, we are tracking very well against this earnings target.” Fiscal 2025 Third Quarter Operating Results • Total sales increased 7% compared to the third quarter of Fiscal 2024 to $2,706 million, while comparable store sales increased 1% compared to the third quarter of Fiscal 2024.      • Gross margin rate as a percentage of net sales was 44.2% vs. 43.9% for the third quarter of Fiscal 2024, an increase of 30 basis points. Merchandise margin expanded by 10 basis points, while freight expense improved 20 basis points. • Product sourcing costs, which are included in selling, general and administrative expenses (SG&A), were $214 million vs. $209 million in the third quarter of Fiscal 2024, decreasing 40 basis points as a percentage of net sales. Product sourcing costs include the costs of processing goods through our supply chain and buying costs.   • SG&A was 35.0% as a percentage of net sales vs. 35.4% in the third quarter of Fiscal 2024, a decrease of 40 basis points. Adjusted SG&A, excluding $11 million of expenses associated with bankruptcy acquired leases in the third quarter of Fiscal 2025, was 26.7% as a percentage of net sales vs. 26.9% in the th