follow us

Burlington posts results for first quarter as public company

Burlington, NJ -- Following the completion of its initial public offering in October, Burlington Stores Inc. ended its first quarter as a public company with a solid sales gain and improved EBITDA results.

Sales for the company's third fiscal quarter, ended Nov. 2, rose 10.0% to $1.06 billion. The company attributed to boost to a $53.2 million increase in sales from new stores and stores that are not old enough to be included in the comparable store sales; and a $37.0 million, or 3.9%, increase in comparable store sales.

Adjusted EBITDA rose 28.3% to $62.5 million thanks to higher total sales, gross margin improvement and cost leveraging.

Year-to-date, sales rose 9.9% to to $3.09 billion, with comps up 5.0%. Adjusted net loss narrowed to $10.8 million versus a loss of $22.8 million last year.

Tom Kingsbury , president and ceo, said the company is encouraged by it recent performance, and remains focused on "the on-going transformation of the Burlington model...[and] executing our growth drivers of improving comparable store sales, expanding our retail store base and enhancing our operating margins in the future."

Burlington Store' outlook calls for: comps to be between 2% and 3% in the fourth quarter, and pro forma fully diluted shares for fiscal 2013 to be approximately 74.8 million.


Featured Video

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Home & Textiles Today