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Burlington Stores, Inc. (NYSE: BURL) is a leading off-price retailer in the United States, offering a wide selection of high-quality, fashionable merchandise at prices significantly lower than those of traditional department stores. Established over 40 years ago, Burlington has continually expanded its footprint, now operating 1007 stores across 46 states, Washington D.C., and Puerto Rico.
Burlington's core business includes women’s ready-to-wear apparel, menswear, youth apparel, baby products, beauty items, footwear, accessories, home goods, toys, gifts, and coats. The company sources its merchandise directly from nationally recognized manufacturers and suppliers, ensuring first-quality, branded items at up to 65% off department store prices. This commitment to affordability aligns with their motto, “style for everyone!”
Since becoming a publicly traded company in October 2013, Burlington Stores has demonstrated impressive growth and innovation. Recent developments include the addition of over 100 new stores, the establishment of a buying office in Southern California, significant expansions in supply chain operations, and the construction of a state-of-the-art corporate headquarters. The company has also remodeled several distribution centers to optimize their operations.
Financially, Burlington Stores reported net sales of $9.7 billion for Fiscal 2023, reflecting a strong performance even in a challenging retail environment. Under the leadership of CEO Michael O’Sullivan, the company has achieved notable milestones, such as opening its 1000th store and acquiring leases for 62 former Bed Bath & Beyond locations, which will bolster their store count and relocation pipeline for 2024 and beyond.
Burlington’s strategy focuses on providing great value to customers, resulting in strong comparable store sales growth and improved operational margins. Despite economic pressures on their core customer base, Burlington remains optimistic about its ability to adapt and capitalize on market opportunities. These efforts are evident in their recent quarterly results, where comparable store sales grew by 4% year-over-year, and adjusted operating margins improved by 130 basis points.
Furthermore, Burlington is committed to community initiatives, such as the Burlington Coat Event in partnership with Delivering Good, a national non-profit organization. This program not only offers discounts to customers but also donates new coats to people in need.
With a strong foundation and a clear vision for continued growth, Burlington Stores, Inc. is well-positioned to expand its market presence and enhance its value proposition to both customers and investors.
Burlington Stores, Inc. (NYSE:BURL) has launched its first in-store customer fundraising campaign with YouthBuild USA, running until May 15, 2023. Customers can round up their purchases to support YouthBuild, which focuses on education and workforce readiness for young adults aged 16 to 24 who are out of school and employment. This initiative aligns with Burlington's community giving strategy aimed at empowering local youth and enhancing their career opportunities. The funds raised will contribute to YouthBuild's program expansion and innovation.
In fiscal 2022, Burlington reported net sales of $8.7 billion and operated 927 stores across 46 states and Puerto Rico, offering discounted brand-name merchandise at significant savings.
Burlington Stores, Inc. (BURL) reported mixed results for Q4 FY2022, with total sales up 5% to $2,739 million, but comparable store sales down 2%. Net income reached $185 million, a significant increase from $122 million, resulting in diluted EPS rising 57% to $2.83. Adjusted EPS also improved by 17% to $2.96, surpassing guidance. Looking forward, the company anticipates FY2023 adjusted EPS of $5.50-$6.00, driven by projected 3%-5% comp sales growth. However, total sales for FY2022 fell 7%, and net income decreased 44% year-over-year. The firm also plans to open 70-80 new stores in FY2023.
Burlington Stores, Inc. (NYSE: BURL), a leading off-price retailer, will release its fourth quarter and fiscal year 2022 results on March 2, 2023, before the U.S. market opens. A conference call to discuss the results will follow at 8:30 a.m. ET. Investors can participate via a toll-free dial-in number or listen to a live webcast on the company's investor relations site. For those unable to attend, a replay will be available from March 2 at 12:30 p.m. ET until March 9 at 11:59 p.m. ET.
With Fiscal 2021 net sales at $9.3 billion and 893 stores across 46 states and Puerto Rico, Burlington continues to offer substantial discounts on a wide range of merchandise.
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