Burlington Stores news and archive

Burlington's off-price model fuels sales growth

Burlington Stores reported a 5 percent increase in fourth-quarter sales to 3.3 billion dollars, driven by a 6 percent rise in comparable store sales, reflecting strong demand for its off-price model. The company’s net income grew to 267 million dollars or 4.13 dollars per share, while EBITDA increased to 456 million dollars and EBIT to 364...

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Burlington Stores names Shira Goodman to the board of directors

Burlington Stores, the American off-price retailer of high-quality, branded apparel, footwear, accessories, and homeware, named Shira Goodman to its board of directors. Goodman, the former chief executive officer of Staples, Inc., will join the board and its audit committee from January 1, 2025. Prior to Staples, Goodman worked at Bain & Company...

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Burlington Stores records 11 percent sales increase in Q1

Burlington Stores sales increased 11 percent to 2,357 million dollars, while comparable store sales increased 2 percent. Gross margin rate as a percentage of net sales was 43.5 percent for the first quarter, an increase of 120 basis points. Net income rose to 79 million dollars or 1.22 dollars per share, while adjusted net income increased to 91...

Retail

High levels of lead found in accessories sold at off-price retailers

A new report has found high levels of lead in leather and faux leather fashion accessories, including handbags, wallets, shoes, and belts sold at off-price retailers Ross and Burlington. The report, published by nonprofit watchdog the Center for Environmental Health (CEH), traces 13 years of systemic toxic levels found in products sold at Ross...

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Burlington Stores posts increase in Q2 sales and profit

For the second quarter, Burlington Stores, Inc. reported sales increase of 9 percent to 2,170 million dollars, while comparable store sales increased 4 percent compared to the second quarter of fiscal 2022. The company’s sales for the first six months increased 10 percent, net income increased 126 percent to 64 million dollars or 98 cents per...

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Burlington Stores misses Q1 expectations despite doubling profit

US retailer Burlington Stores missed its own expectations in the first quarter of the year despite doubling net profit and reporting an 11 percent increase in sales. Net sales at the off-price chain increased to 2.13 billion dollars in the three months to April 29 - but the company had expected growth of between 12 percent and 14 percent. On a...

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Burlington Stores' Q3 sales improve 30 percent

For its third quarter, Burlington Stores, Inc. reported a total sales increase of 30 percent compared to the third quarter of fiscal 2019 to 2,300 million dollars, while comparable store sales increased 16 percent. Commenting on the third quarter results, Michael O’Sullivan, the company’s CEO, stated: With Total Sales up 30 percent in Q3, and up...

Fashion

Burlington Stores publishes corporate social responsibility report

US retailer Burlington Stores has published its third annual corporate social responsibility report, revealing the progress it’s made across its Environmental, Social and Governance (ESG) initiatives. The off-price retailer said Monday it managed to reduce its Scope 1 and 2 greenhouse gas (GHG) emissions per operating square foot and per dollar...

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Burlington Stores Q2 comparable sales increase 19 percent

Burlington Stores, Inc. reported total sales increase of 34 percent compared to the second quarter of fiscal 2019 to 2,213 million dollars, while comparable store sales increased 19 percent. “The environment remains uncertain, and the trend is difficult to predict. We are seeing a huge imbalance between supply and demand in global logistics...

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Burlington Stores reports net loss of 334 million dollars

Burlington Stores, Inc., for the first quarter ended May 2, 2020 reported total sales decrease of 51 percent to 798 million dollars. The company’s gross margin rate was 2 percent vs. last year’s rate of 41 percent, driven primarily by a 272 million dollars inventory charge against aged inventory due to extended store closures. Net loss was 334...

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Burlington Stores reports increase in Q3 sales and profit

Burlington Stores, Inc., for the third quarter ended November 2, 2019 reported total sales increase of 8.6 percent to 1,775 million dollars, while comparable store sales increased 2.7 percent. Net income for the quarter increased 26 percent to 96 million dollars or 1.44 dollars per share vs. 1.12 dollars last year, and adjusted net income...

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Burlington Stores says Q4 same-store sales below estimates

For its fourth quarter ended February 2, 2019, Burlington Stores, Inc. reported total sales increase of 2.8 percent to 1,991 million dollars. Excluding the 53rd week last year, the company said, total sales increased 7.4 percent with new and non-comparable stores contributing an incremental 173 million dollars in sales during the quarter....