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Burlington Stores, Inc. - $BURL STOCK NEWS

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.

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Burlington Stores, Inc. (NYSE: BURL) reported its first quarter 2024 earnings, showing an 11% increase in total sales to $2,357 million and a net income of $79 million. The company's diluted EPS was $1.22, and comparable store sales rose by 2%. On a non-GAAP basis, adjusted EPS saw a 68% rise to $1.42, and adjusted EBIT margin improved by 170 basis points. Gross margin rate increased to 43.5% from 42.3% in the previous year. Looking forward, Burlington has raised its FY24 adjusted EPS guidance to $7.35-$7.75 and expects total sales to grow by 8% to 10%. CEO Michael O’Sullivan expressed satisfaction with the quarter's performance, noting significant earnings growth and margin improvement. Moreover, the company repurchased 312,238 shares for $63 million and ended the quarter with $1,521 million in liquidity. For the next quarter, Burlington anticipates a 9% to 11% sales increase and adjusted EPS of $0.83 to $0.93.

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Burlington Stores, a nationally recognized off-price retailer, will release its first quarter fiscal year 2024 results on May 30, 2024, before the U.S. stock market opens. A conference call to discuss these results will follow at 8:30 a.m. ET. The U.S. toll-free dial-in number is 1-800-715-9871 with passcode 3047342. International participants can dial 1-646-307-1963. A live webcast will also be available on the company's investor relations website. Additionally, a replay of the call will be accessible starting at 11:30 a.m. ET on May 30, 2024, through June 6, 2024, at 11:59 p.m. ET. Burlington will continue to share material information via SEC filings, press releases, public calls, webcasts, and through its website and social media channels.

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Burlington Stores, Inc. (BURL) reports strong financial results with total sales increasing 14% on a GAAP 14-week basis. Net income was $227 million, and diluted EPS stood at $3.53. The company also saw a 2% growth in comparable store sales on a non-GAAP 13-week basis, surpassing guidance. Adjusted EBIT margin increased by 110 basis points, and adjusted EPS rose by 25% to $3.69. For the full year, total sales increased by 12% on a GAAP 53-week basis, with net income reaching $340 million and diluted EPS at $5.23. Burlington Stores introduced an optimistic outlook for FY24 with an adjusted EPS forecast of $7.00-$7.60, reflecting a 12% to 22% increase over FY23.
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Burlington Stores, Inc. (BURL) will release its Q4 and FY 2023 results on March 7, 2024. A conference call will follow to discuss the results. Investors can access the call via dial-in or webcast. The company emphasizes using SEC filings, press releases, and conference calls for material information dissemination.
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Burlington Stores, Inc. (BURL) reported a 6% increase in comparable store sales, with a GAAP net income of $49 million and diluted EPS of $0.75 for the third quarter ended October 28, 2023. On a non-GAAP basis, the adjusted EPS was $0.98, excluding expenses related to the acquisition of Bed Bath & Beyond leases. Adjusted EPS was $1.10, exceeding the guidance of $0.97 to $1.12. CEO Michael O’Sullivan expressed satisfaction with the strong performance despite the weather impact and highlighted the positive start to November.
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Burlington Stores (BURL) Launches Burlington Coat Event with 10% Off Promotion and Donation to Those in Need
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Burlington Stores, Inc. (NYSE: BURL) to release Q3 fiscal year 2023 results on November 21, 2023, with a conference call at 8:30 a.m. ET. Investors can access the call and webcast through the company's investor relations page. Replay available until November 28, 2023.
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Burlington Stores reports Q2 results with total sales up 9% and net income of $31 million. Comparable store sales increased 4%. Adjusted EBIT was $68 million and Adjusted EPS was $0.60. The company plans to open 70-80 net new stores and expects total sales to increase 11-12% for Fiscal Year 2023. Adjusted EPS is expected to be in the range of $5.37 to $5.67.
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Burlington Stores, Inc. (NYSE: BURL) will release its second quarter fiscal year 2023 results before the U.S. stock market opens on August 24, 2023. The company will hold a conference call to discuss the results at 8:30 a.m. (Eastern Time) that day. Investors can access the conference call through a toll-free dial-in number or a live webcast on the company's investor relations page. A replay will be available for those unable to participate. Burlington Stores emphasizes the use of SEC filings, press releases, public conference calls, and webcasts to distribute material information.
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Burlington Stores partners with AdoptAClassroom.org for a fundraising campaign to provide school supplies to high-needs classrooms. Customers can donate at checkout or round up their purchase. Burlington also surprises 1,000 teachers with $500 each to support 25,000 students. Teachers spend an average of $860 out-of-pocket each year.
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FAQ

What does Burlington Stores, Inc. specialize in?

Burlington Stores specializes in offering high-quality, fashionable merchandise at up to 65% off department store prices. Their range includes women's ready-to-wear apparel, menswear, youth apparel, baby products, beauty items, footwear, accessories, home goods, toys, gifts, and coats.

How many stores does Burlington operate?

As of the end of Fiscal 2023, Burlington operates 1007 stores across 46 states, Washington D.C., and Puerto Rico.

When did Burlington Stores go public?

Burlington Stores went public in October 2013 and began trading on the New York Stock Exchange under the ticker symbol BURL.

How is Burlington performing financially?

For Fiscal 2023, Burlington Stores reported net sales of $9.7 billion, demonstrating strong financial performance and growth in a challenging retail environment.

What are some recent achievements of Burlington Stores?

Recent achievements include opening the 1000th store, acquiring leases for 62 former Bed Bath & Beyond locations, and improving comparable store sales and operational margins.

What community initiatives is Burlington involved in?

Burlington is involved in community initiatives like the Burlington Coat Event, in partnership with Delivering Good, which provides new coats to people in need and offers discounts to customers.

Who is the current CEO of Burlington Stores?

The current CEO of Burlington Stores is Michael O’Sullivan.

What makes Burlington Stores' business model unique?

Burlington's business model is unique due to its focus on offering a wide range of branded merchandise at significantly lower prices than traditional department stores, making high-quality fashion accessible to a broader audience.

How does Burlington source its merchandise?

Burlington sources its merchandise directly from nationally recognized manufacturers and suppliers, ensuring high-quality, branded items at affordable prices.

Where can I find more information about Burlington Stores?

For more information, you can visit Burlington's official website at www.burlington.com or the investor relations page at www.burlingtoninvestors.com.

Burlington Stores, Inc.

NYSE:BURL

BURL Rankings

BURL Stock Data

14.55B
63.09M
0.35%
109.3%
4.25%
Men's Clothing Stores
Retail Trade
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United States of America
BURLINGTON