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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) will announce its third quarter fiscal year 2021 results on November 23, 2021, before the U.S. stock market opens. The company will conduct a conference call at 8:30 a.m. ET that same day to discuss the results. Interested parties can access the call via a U.S. toll-free number or a live webcast on the investor relations page of its website. A replay will be available from November 23, 2021, at 11:30 a.m. ET until November 30, 2021. Burlington Stores, recognized for off-price retailing, operated 792 stores as of Q2 fiscal 2021.
Burlington Stores, Inc. reported strong second-quarter results for the fiscal year 2021, with total sales up 34% to $2.213 billion and net income at $103 million, reflecting a 21% increase from FY2019. Diluted EPS rose 19% to $1.50, while comparable store sales increased by 19%. Adjusted EBIT grew by 55% to $183 million. However, the company acknowledged challenges such as supply chain expenses affecting margins, alongside an uncertain market environment. Forecasts for capital expenditures are now around $510 million, with plans for 100 new store openings.
Burlington Stores, Inc. (NYSE: BURL) released its third annual Corporate Social Responsibility (CSR) Report, highlighting significant progress in Environmental, Social, and Governance (ESG) initiatives for fiscal year 2020. Key achievements include a 44% reduction in Scope 1 and 2 greenhouse gas emissions, installation of a rooftop solar array expected to produce 7.7 million kilowatt-hours of electricity annually, and the creation of a Senior Vice President of Inclusion and Diversity position. The company aims to strengthen community partnerships and prioritize diversity, contributing to its long-term resilience and sustainability.
Burlington Stores, Inc. (NYSE: BURL) will release its Q2 fiscal year 2021 results on August 26, 2021, before U.S. market opens. A conference call will follow at 8:30 a.m. ET, allowing investors to discuss the results. A live webcast will be accessible on the company's investor relations page. A replay of the call will be available from 11:30 a.m. ET the same day until September 2, 2021. Burlington operates 784 stores, offering branded apparel at discounts of up to 60% compared to other retailers, generating net sales of $5.8 billion in fiscal 2020.
Burlington Stores, Inc. (NYSE: BURL) reported impressive first-quarter results for Fiscal 2021, with total sales rising 35% to $2.19 billion and net income surging 120% to $171 million. Comparable store sales increased by 20%, while diluted EPS improved 118% to $2.51. Adjusted EBIT reached $238 million, reflecting a 360 basis points increase as a percentage of sales. Despite these strong metrics, the company warned of ongoing supply chain and freight expense challenges that may impact operating margins. Looking ahead, no sales or earnings guidance was provided due to recovery uncertainties.
Burlington Stores (NYSE: BURL) is scheduled to release its first quarter fiscal year 2021 results on May 27, 2021, before the U.S. stock market opens. A conference call to discuss these results will follow at 8:30 a.m. ET. The company reported net sales of $5.8 billion in Fiscal 2020 and operated 761 stores across 45 states and Puerto Rico, offering significant discounts on a variety of merchandise. Investors can access details through the company’s investor relations page and social media channels.
Burlington Stores, Inc. (BURL) reported a 4% increase in total sales for Q4 2020, amounting to $2,279 million, with net income of $156 million or $2.33 per share. Comparable store sales remained flat, improving significantly to 17% growth in January. The company announced an increase in its long-term store target to 2,000 locations, up from 1,000, leveraging its Burlington 2.0 strategy. Key metrics showed a 40 basis point improvement in gross margin and a decrease in Adjusted EBITDA to $280 million. Overall, the outlook remains cautious due to uncertainty in consumer demand.
Burlington Stores, Inc. (NYSE: BURL) will release its fourth quarter and fiscal year 2020 results on March 4, 2021, before U.S. market opening. A conference call is scheduled for 8:30 a.m. (ET) to discuss these results. Investors can join via toll-free numbers or through a live webcast on the company's investor relations website. The company reported net sales of $7.3 billion for fiscal 2019. Burlington operates 769 stores across 45 states and Puerto Rico, offering branded apparel at discounts of up to 60%.
Burlington Stores, Inc. (NYSE:BURL) has appointed Michael Goodwin, former Senior VP and Chief IT Officer of PetSmart, to its Board of Directors and Audit Committee, effective December 1, 2020. Goodwin brings over 30 years of IT experience in retail, which will support the company's ongoing strategic growth efforts. Burlington's CEO and Board Chairman expressed confidence in Goodwin's potential contributions to enhance their Burlington 2.0 growth strategy, aimed at improving market competitiveness and operational efficiency.
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