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. reports recurring business updates as a national off-price retailer of branded apparel, footwear, accessories and home merchandise. Company news commonly covers quarterly and annual earnings, total and comparable-store sales, merchandise margin, freight and SG&A leverage, adjusted EBIT margin, adjusted EPS and fiscal-year guidance.
Updates also address the retailer's store-opening program, weather effects on seasonal traffic, tariff and merchandise-margin considerations, bankruptcy-acquired lease expenses, public conference calls and governance changes such as board and committee appointments. The company's operating commentary is centered on its off-price merchandising model and broad categories including women's and men's apparel, kids and baby, beauty, footwear, home, toys, gifts and coats.
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.
Burlington Stores (NYSE: BURL) reported a 11% decrease in total sales for Q3 2022, totaling $2,036 million. Comparable store sales also fell 17%. Net income was $17 million with diluted EPS at $0.26, reflecting an $11 million impairment charge. Adjusted EBIT was $55 million, while Adjusted EPS stood at $0.43. For Q4, comparable store sales are expected to decrease 9% to 6%, with guidance for adjusted EPS ranging from $2.45 to $2.75. The company maintains a cautious outlook for FY 2023 amid external risks but is optimistic about recovery potential.
Burlington Stores, Inc. (NYSE: BURL) will announce its Q3 fiscal 2022 results on November 22, 2022, before the U.S. stock market opens. A conference call will follow at 8:30 a.m. ET to discuss these results. Investors can access the call via U.S. toll-free number 1-800-715-9871 or internationally at 1-646-307-1963. A replay will be available from 12:30 p.m. ET on the same day until November 29, 2022. Burlington Stores, a leading off-price retailer, reported $9.3 billion in net sales for FY 2021 and operates 877 stores across the U.S. and Puerto Rico.
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.