Burlington Boosts Sales In Q4

Driven by strong comparable store sales, Burlington Stores boosted its sales in both the fourth quarter and fiscal year.

In the fourth quarter ended February 3, total sales increased 14.9% over the prior year period to $1.9 billion. The company reported a 5.9% increase in comparable store sales. Benefiting from the tax reform measures, net income increased 92% over the prior year period to $241 million, or $3.47 per share versus $1.77 per share last year;

For the fiscal year, total sales increased 9.3% to $6 billion. Net income increased 78% to $385 million, and earnings per share increased to $5.48. The company posted a comparable store sales increase of 3.4% for the fiscal year.

Tom Kingsbury, CEO, Burlington, said, “We are extremely pleased to report strong fourth quarter results, driven by a 5.9% comparable store sales increase, which was on top of last year’s 4.6% increase. On a 13-week basis, we achieved a 22% increase in Adjusted EPS excluding the estimated impact of the 2017 tax reform. This result was driven by overall sales growth of 10% and an improvement of 50 basis points in both Adjusted EBITDA and EBIT margin. We also passed several significant milestones in fiscal 2017, as we surpassed $6 billion in total sales, expanded our adjusted EBIT margin by 90 basis points to 8.6%, and achieved record low aged inventory and record high comparable store inventory turnover levels.”