For the fourth quarter and fiscal year ended January 31, Burlington Stores, Inc. posted adjusted net income of $108.9 million, or $1.43 per share, versus $81 million, or $1.07 per share, in last year’s period. GAAP net income was $94.9 million versus $63.6 million in the year-prior period.
Adjusted earnings per share beat a Zacks average analyst estimate of $1.32.
Comparable store sales gained 6.7% in the fourth quarter versus last year’s period, the company stated. Net sales were $1.49 billion and total revenue was $1.5 billion, versus $1.33 billion and $1.34 billion, respectively, in the year-earlier period.
For the full year, Burlington’s adjusted net income was $138.6 million, or $1.83 per share, versus $70.2 million, or 95 cents per share, in the 2013 period. GAAP net income was $66 million versus $16.2 million in the year prior.
Comps gained 4.9% year over year, the company related. Net sales were $4.81 billion versus $4.43 billion in the year prior while net revenues were $4.85 billion versus $4.46 billion.
Tom Kingsbury, Burlington’s chairman, president and CEO, stated, “We are extremely pleased to report a full year 4.9% comparable store sales increase on top of last year’s 4.7%, which helped drive a 93% increase in adjusted diluted EPS. The fourth quarter marked an outstanding finish to a strong year of growth for Burlington Stores. Our consistent sales growth at increasing rates of profitability continues to demonstrate the power of our enhanced off price model and the strong execution of our strategies by our store and corporate teams.”