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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 reported a 10% decline in total sales for Q2 FY2022, amounting to $1.98 billion, while comparable store sales fell 17%. Net income dropped to $12 million, or $0.18 per share, compared to $103 million, or $1.50 per share in Q2 FY2021. Adjusted EPS was $0.35, surpassing guidance of $0.18 to $0.31. The company faces ongoing economic pressures and high promotional activity, prompting a downward revision of its full-year outlook.
Burlington Stores, Inc. (BURL) released its 2021 Corporate Social Responsibility (CSR) Report, showcasing significant advancements in Environmental, Social, and Governance (ESG) initiatives. Key highlights include a 44% reduction in Scope 1 and 2 greenhouse gas emissions per square foot and achieving 9% renewable energy consumption. The company set ambitious targets to cut emissions by 60% by 2030 and aims for 20% renewable energy use. Burlington also launched the Burlington Stores Foundation, enhancing community engagement and diversity initiatives.
Burlington Stores, Inc. (NYSE: BURL) is set to release its second quarter fiscal year 2022 results on August 25, 2022, prior to the U.S. stock market opening. A conference call will take place at 8:30 a.m. ET to discuss these results. The toll-free dial-in numbers for the conference call are 1-800-715-9871 (U.S.) and 1-646-307-1963 (international), with a live webcast available on their investor relations page. Burlington, recognized as an off-price retailer, reported $9.3 billion in net sales for Fiscal 2021 and operated 866 stores as of the end of Q1 Fiscal 2022.
Burlington Stores, Inc. (NYSE: BURL) announced the appointment of Kristin Wolfe as Chief Financial Officer effective August 1, 2022. Wolfe, previously at Ross Stores, has extensive retail experience. She will work alongside outgoing CFO John Crimmins for a transitional month before his retirement on August 31, 2022, during which he will consult until February 2023. CEO Michael O’Sullivan expressed confidence in Wolfe's ability to contribute to the company’s Burlington 2.0 strategy.
Burlington Stores, Inc. reported a 12% decline in total sales for Q1 2022, totaling $1.926 billion, with net income of $16 million or $0.24 per share. Comparable store sales fell 18%, and adjusted EBIT decreased significantly. CEO Michael O’Sullivan highlighted challenges such as low inventory levels and inflation affecting lower-income shoppers. The company anticipates continued sales declines, projecting 2022 comparable store sales to drop -9% to -6%. Despite challenges, there is potential for off-price retail growth amid economic slowdowns.
Burlington Stores, Inc. (NYSE: BURL) will announce its first quarter fiscal 2022 results before the U.S. stock market opens on May 26, 2022. A conference call is scheduled for 8:30 a.m. ET the same day. Investors can access the call via toll-free numbers or listen to a live webcast on the company’s investor relations page. Burlington reported fiscal 2021 net sales of $9.3 billion and operated 840 stores across 45 states and Puerto Rico. The company offers a variety of merchandise, priced up to 60% lower than other retailers.
Burlington Stores, Inc. (NYSE: BURL) announced the retirement of Chief Financial Officer John Crimmins, effective August 31, 2022 or upon the appointment of his successor. Crimmins will provide consulting services until February 2023 to ensure a smooth transition. With over 11 years at Burlington, he played a pivotal role in strengthening the finance team. The company has engaged Egon Zehnder to aid in the CFO search. Burlington reported net sales of $9.3 billion in Fiscal 2021 and operates 840 stores nationwide.
Burlington Stores (NYSE: BURL) reported strong financial results for Q4 and Fiscal 2021, with total sales up 18% in Q4 and 28% for the full year compared to FY19. Net income for Q4 was $122 million ($1.80 per share), while FY net income totaled $409 million ($6.00 per share), down 12% from FY19. The company redeemed $533 million in debt and resumed share repurchases, buying back $250 million in stock. However, Q4 comp store sales increased only 6%, signaling a slowdown due to external factors. The company anticipates a challenging retail environment in 2022, refraining from providing specific sales or earnings guidance.
Burlington Stores, Inc. (NYSE: BURL) is set to release its fourth quarter and fiscal year 2021 results on March 3, 2022, before U.S. market opens. A conference call will follow at 8:30 a.m. ET to discuss the results. Investors can join via U.S. toll-free dial-in 1-866-437-5084 or the international number 1-409-220-9374. The company encourages stakeholders to monitor updates through SEC filings, press releases, and social media. As of Q3 2021, Burlington operated 832 stores in 45 states and Puerto Rico, with net sales of $5.8 billion in Fiscal 2020.
Burlington Stores (NYSE: BURL) reported a robust third quarter for fiscal 2021, with total sales rising by 30% to $2.3 billion compared to Q3 2019. Net income stood at $14 million, or $0.20 per share, affected by an $86 million debt extinguishment charge. Comparable store sales increased 16%.
Adjusted EPS reached $1.36, while adjusted EBIT remained stable at $140 million. The company plans to accelerate new store openings, forecasting 101 new stores for fiscal 2021. Despite supply chain challenges, the CEO remains optimistic about market share growth.
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