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. 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.
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