Burlington Stores, Inc. Earnings Per Share Disclosure
8. Net Income Per Share
Basic net income per share is calculated by dividing net income by the weighted-average number of common shares outstanding. Dilutive net income per share is calculated by dividing net income by the weighted-average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method for the Company’s stock option, restricted stock and restricted stock unit awards, and the if-converted method for the 2025 Convertible Notes and 2027 Convertible Notes, as applicable.
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(in thousands, except per share data) |
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Fiscal Year Ended |
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January 31, |
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February 1, |
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February 3, |
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2026 |
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2025 |
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2024 |
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Basic net income per share |
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Net income |
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$ |
610,153 |
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$ |
503,639 |
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$ |
339,649 |
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Weighted average number of common shares – basic |
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62,984 |
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63,634 |
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64,672 |
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Net income per common share – basic |
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$ |
9.69 |
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$ |
7.91 |
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$ |
5.25 |
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Diluted net income per share |
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Net income |
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$ |
610,153 |
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$ |
503,639 |
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$ |
339,649 |
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Shares for basic and diluted net income per share: |
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Weighted average number of common shares – basic |
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62,984 |
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63,634 |
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64,672 |
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Assumed exercise of stock options and vesting of restricted stock |
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795 |
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673 |
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245 |
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Assumed conversion of convertible debt |
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347 |
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288 |
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— |
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Weighted average number of common shares – diluted |
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64,126 |
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64,595 |
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64,917 |
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Net income per common share – diluted |
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$ |
9.51 |
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$ |
7.80 |
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$ |
5.23 |
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Approximately 173,000 shares, 405,000 shares and 1,524,000 shares were excluded from diluted net income per share for Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively, since their effect was anti-dilutive.
Historical Timeline
| Fiscal Year | Filed | |
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| 2026 | Mar 19, 2026 | Showing above |
| 2025 | Mar 17, 2025 | |
| 2024 | Mar 15, 2024 | |
| 2023 | Mar 13, 2023 | |
| 2022 | Mar 16, 2022 | |
| 2021 | Mar 15, 2021 | |
| 2020 | Mar 13, 2020 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.