Home / Knowledge / News / Apparel/Garments / Burlington Stores Q4'FY14 EBITDA up 15.6%
Burlington Stores Q4'FY14 EBITDA up 15.6%
21
Mar '14
Burlington Stores, Inc., a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, announced its results for the fourth quarter and fiscal year ended February 1, 2014.
 
Tom Kingsbury, President and Chief Executive Officer stated, “We are extremely pleased with our results in the fourth quarter and for the full year, given our strong sales and bottom line performance. For the year, we achieved a comparable store sales increase of 4.7%, an increase in Adjusted EBITDA of 15.6%, Adjusted EBITDA margin expansion of 70 basis points, and a 17.9% increase in Adjusted Net Income. 
 
These results benefited from strong fourth quarter comps of 4.0% as we continued to improve the execution of our off-price model. We remain focused on delivering great value, brands and freshness to our customers every day as well as executing our growth initiatives to improve comparable store sales, expand our retail store base and enhance our operating margins in Fiscal 2014 and beyond.”
 
Fourth Quarter Fiscal 2013 Operating Results (for the 13 week period ended February 1, 2014 compared with the 14 week period ended February 2, 2013):
Comparable store sales increased 4.0%. In Fiscal 2012, certain stores were directly impacted by Hurricane Sandy and were not included in our comparable store base. In 2013, including these stores, comparable store sales increased 4.3%.
 
Net sales increased 1.3% to $1,334.3 million. Prior year net sales included approximately $54 million associated with the 53rd week ended February 2, 2013.
 
Gross margin expanded by 30 basis points primarily due to improved merchandising margins. Costs to process goods through the Company’s supply chain and buying costs, which are included in selling and administrative expenses, rose by a similar rate, as expected.
 
Selling and administrative expenses, exclusive of advisory fees, as a percentage of net sales were 28.0% vs. 27.8% last year. The fourth quarter last year was positively impacted by the reversal of incentive compensation accruals while the fourth quarter this year includes incentive compensation expense associated with performance better than plan.
 
The incentive compensation expense difference resulted in an 80 basis point increase in expense quarter over quarter, which was partially offset by improved leverage on store payroll of 40 basis points and occupancy and other store expenses of 30 basis points, as well as leverage on corporate expenses.


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X