Burlington Stores Inc ( (BURL) ) has released its Q4 earnings. Here is a breakdown of the information Burlington Stores Inc presented to its investors.
Burlington Stores, Inc., a leading off-price retailer known for offering high-quality, branded apparel and home merchandise at discounted prices, has reported its financial results for the fourth quarter and full fiscal year 2024.
The company experienced a robust performance in the fourth quarter, with comparable store sales growing by 6%, surpassing the initial guidance of 0% to 2%. Burlington Stores reported a net income of $261 million for the quarter, translating to a diluted earnings per share (EPS) of $4.02. For the full fiscal year 2024, the company achieved an 11% increase in total sales and a 4% rise in comparable store sales, resulting in a net income of $504 million and a diluted EPS of $7.80.
Key financial highlights include a 12% increase in adjusted EPS for the fourth quarter, reaching $4.13, and a 34% rise in adjusted EPS for the full year, amounting to $8.35. The company also opened 101 new stores and relocated 31 older locations, contributing to its strategic growth initiatives. Burlington Stores ended the year with a strong liquidity position of $1,822 million, comprising cash and available credit.
Looking ahead, Burlington Stores remains cautious yet optimistic about fiscal year 2025, anticipating a total sales increase of 6% to 8% and plans to open approximately 100 new stores. The company aims to maintain its flexible and reactive business model to navigate the uncertain market conditions effectively.
Overall, Burlington Stores’ solid financial performance and strategic initiatives underscore its resilience and adaptability in the competitive retail landscape, positioning it well for continued growth in the coming year.