Welcome to our dedicated page for BURLINGTON STORES news (Ticker: BURL), a resource for investors and traders seeking the latest updates and insights on BURLINGTON STORES stock.
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 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.
Burlington Stores reported a 6% decline in total sales for Q3 2020, totaling $1.665 billion. Net income decreased to $8 million, or $0.12 EPS, a significant drop from last year's $96 million, or $1.44 EPS. Comparable store sales fell 11% but showed improvement, with a 4% decline in September and October. Gross margin increased to 45.0%, up 260 basis points year-over-year. The company has $1.641 billion in liquidity and plans to open 62 new stores while relocating 28 stores. Overall, the outlook remains cautious amid ongoing COVID-19 challenges.
Burlington Stores, Inc. (NYSE: BURL) will release its third quarter fiscal year 2020 results before the U.S. stock market opens on November 24, 2020. A conference call is scheduled for 8:30 a.m. ET to discuss the results.
Investors can join the call via U.S. toll-free number 1-866-437-5084 or international number 1-409-220-9374. A live webcast will be available on the investor relations page of the company's website. A replay of the call will be accessible from November 24 to December 1, 2020.
The company's 2019 net sales were $7.3 billion, operating 739 stores across 45 states and Puerto Rico.
Burlington Stores, Inc. (NYSE: BURL) reported a significant 39% decline in total sales for Q2 2020, totaling $1.01 billion. The company posted a net loss of $46.8 million, resulting in an EPS of ($0.71). Adjusted EPS was ($0.56). Despite a 26% decrease in inventory, liquidity remained strong at approximately $1.2 billion. The CEO noted improved sales trends as inventory levels were rebuilt, though risks for Q3 remain high. Sales in reopened stores fell by 14%, and the full-year sales guidance is suspended due to economic uncertainty.
Burlington Stores, Inc. (BURL) will release its Q2 fiscal 2020 results on August 27, 2020, before the market opens. A conference call is scheduled for 8:30 a.m. (ET) to discuss these results. The company is a notable off-price retailer, reporting net sales of $7.3 billion for fiscal 2019 and operating 736 stores across 45 states and Puerto Rico. Investors can access the conference call via toll-free numbers and a live webcast.
Better Family Inc. announced its first order of 600 Beebos from Burlington for their Baby Depot departments. The Beebo, a free-handed baby feeder, will be available in select Burlington locations next month. Better Family also offers Swabbies, an organic diaper cream. Burlington, a Fortune 500 company, operates 727 stores with revenues of $7.3 billion in Fiscal 2019. This new partnership marks a significant sales milestone for Better Family, leveraging Burlington's extensive retail presence to reach parents seeking innovative baby products.
Burlington Stores, Inc. reported a significant drop in financial performance for Q1 2020, with total sales declining 51% to $798 million and a net loss of $334 million or $5.09 per share. Adjusted EPS was ($4.76), impacted by a $272 million charge related to aged inventory. Despite store closures due to the COVID-19 pandemic, sales in reopened locations exceeded prior year levels. The company has secured $1.1 billion in financing and ended the quarter with $1.639 billion in liquidity, indicating a strong cash position for future operations.
Burlington Stores, Inc. (NYSE: BURL) will release its first quarter fiscal year 2020 results on May 28, 2020, before market open. A conference call scheduled for 8:30 a.m. (ET) will discuss the results. Investors can dial in at 1-866-437-5084 (U.S.) or 1-409-220-9374 (international) and access a live webcast on their investor relations page. A replay will be available from May 28 to June 4, 2020. Burlington Stores reported Fiscal 2019 net sales of $7.3 billion and operated 727 stores across 45 states and Puerto Rico.
FAQ
What is the current stock price of BURLINGTON STORES (BURL)?
What is the market cap of BURLINGTON STORES (BURL)?
What does Burlington Stores, Inc. specialize in?
How many stores does Burlington operate?
When did Burlington Stores go public?
How is Burlington performing financially?
What are some recent achievements of Burlington Stores?
What community initiatives is Burlington involved in?
Who is the current CEO of Burlington Stores?
What makes Burlington Stores' business model unique?
How does Burlington source its merchandise?
Where can I find more information about Burlington Stores?
