Burlington Stores, Inc.

Hello everyone and welcome to Burlington Stores Inc. 4th Quarter 2024 Earnings Webcast Call. Please note that this call is being recorded. After the speaker's prepared remarks, there will be a question and answer session. If you'd like to ask a question during that time, please press star followed by 1 on your telephone keypad. Thank you. I'd now like to hand the call over to David Glick. Group Senior Vice President, Investor Relations, and Treasurer, you may now begin.

Thank you, Operator, and good morning, everyone. We appreciate everyone's participation in today's conference call to discuss Burlington's fiscal 2024 fourth quarter operating results. Our presenters today are Michael O'Sullivan, our Chief Executive Officer, and Kristen Wolf, our EVP and 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 express permission. A replay of the call will be available until March 13, 2025. 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 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 discussed today are on a continuing operations basis. Reconciliations of the non-GAAP measures we discussed today to GAAP measures are included in today's press release. As a reminder, as indicated in this morning's press release, the financial results we discussed today are on a 13-week versus 13-week basis for the fiscal fourth quarter and on a 52-week versus 52-week basis for the full fiscal year of 2024. Additionally, All profitability metrics discussed in this call exclude costs associated with bankruptcy acquired leases. These pre-tax costs amounted to $5 million and $6 million during the fiscal fourth quarters of 2024 and 2023, respectively, and $16 million and $18 million for the full fiscal years 2024 and 2023, respectively.

Now, here's Michael. Thank you, David. Good morning, everyone, and thank you for joining us. I would like to cover three topics this morning.