Burlington Stores Inc

BURL

Equity

ISIN US1220171060 / Valor 21773119

New York Stock Exchange, Inc (2024-12-24)

USD 289.04+1.88%

Burlington Stores Inc
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About company

Burlington Stores Inc. is a nationally recognized off-price retailer with over 1,000 stores across 46 states and Puerto Rico. The company offers a wide assortment of low-priced brand name apparel and accessories for women, men, and children, as well as home décor items. Originally starting as Burlington Coat Factory over 50 years ago, the company has grown to become a Fortune 500 company with its common stock traded on the New York Stock Exchange under the ticker symbol "BURL."

Summarized from source with an LLMView SourceSector: Consumer Services

Total Sales Growth

Burlington Stores Inc. reported an 11% increase in total sales for the third quarter of 2024, reaching $2,526 million. This growth builds on a 12% increase from the previous year, showcasing the company's continued expansion in the retail market.

Comparable Store Sales

For the third quarter of 2024, Burlington Stores Inc. achieved a 1% growth in comparable store sales, following a 6% increase in the same quarter last year. Excluding cold weather categories, the comparable store sales growth was 4%, reflecting a consistent trend since March.

Net Income and Earnings Per Share

Burlington Stores Inc. reported a net income of $91 million for the third quarter of 2024, with diluted earnings per share (EPS) of $1.40. Adjusted net income was $100 million, or $1.55 per share, marking a 41% increase in adjusted EPS compared to the previous year.

Gross Margin and SG&A Improvements

The gross margin rate for Burlington Stores Inc. in the third quarter of 2024 was 43.9%, up from 43.2% in the previous year, driven by lower markdowns and higher markup. Selling, general, and administrative expenses (SG&A) improved by 80 basis points, with adjusted SG&A decreasing by 40 basis points as a percentage of net sales.

Outlook for Fiscal Year 2024

Burlington Stores Inc. has raised its adjusted EPS guidance for the full fiscal year 2024 to a range of $7.76 to $7.96. The company expects total sales to increase by 9% to 10%, with comparable store sales projected to rise by approximately 2%. The company plans to open 101 net new stores during the fiscal year.

Summarized from source with an LLMView Source

Key figures

50.7%1Y

0.64%3Y

26.9%5Y

Performance

33.8%1Y

46.2%3Y

48.1%5Y

Volatility