Home / Knowledge / News / Apparel/Garments / Net sales lift 11.3% at Burlington Stores in Q4FY15
Net sales lift 11.3% at Burlington Stores in Q4FY15
Mar '15
Net sales for the fourth fiscal quarter ended January 31, 2015 at NYSE listed and off price apparel retailer, Burlington Stores lifted 11.3 per cent from a year earlier quarter.

Burlington said its net sales increased 11.3 per cent year over year or $151.1 million to $1,485.4 million in the fourth fiscal quarter.

“This growth includes a 6.7 per cent hike in comparable store sales, as well as a rise of $66.9 million from new and non-comparable stores,” the retailer said in a press release.

Gross margin expanded by 50 basis points to 42.2 per cent from 41.7 per cent in the fourth quarter of previous fiscal, partially offset by a 40 basis point increase in product sourcing costs.

SG&A, less product sourcing costs, the impact of a non-recurring legal charge and advisory fees, as a percentage of net sales was 24.3 per cent as against 24.6 per cent in the same quarter of last fiscal.

According to Burlington, the reduction was primarily driven by reductions in store payroll and advertising, partially offset by higher incentive compensation accruals.

Other revenue/income increased $3.3 million reflecting a $3.2 million settlement of a class action lawsuit relating to credit card interchange fees.

“This one time, nonrecurring settlement was anticipated when the Company issued its press release with updated guidance on January 9, 2015,” Burlington added.

Adjusted EBITDA grew 15.6 per cent or $30.3 million to $225.1 million with a 60 basis point expansion in adjusted EBITDA as a percentage of net sales.

Depreciation and amortisation expense, exclusive of net favourable lease amortisation ascended $1.8 million to $36.9 million.

Interest expense declined $12.4 million from last year to $15.0 million, driven by interest savings related to the debt refinancing in August 2014 and principal payments made during fiscal 2014.

Adjusted tax expense was $64.3 million compared with $51.3 million last year and the adjusted effective tax rate was 37.1 per cent compared to 38.8 per cent in corresponding quarter of last fiscal.

Adjusted net income in the reporting quarter totaled to $108.9 million or $1.43 per share as against $81.0 million or $1.07 per share.

Tom Kingsbury, chairman said, “The fourth quarter marked an outstanding finish to a strong year of growth for Burlington Stores.”

“Our consistent sales growth at increasing rates of profitability continues to demonstrate the power of our enhanced off price model and the strong execution of our strategies,” he added. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 21st Oct 2016

China’s garment retail sales grow 7.2% in Jan-Sept ’16

Retail sales of garments, footwear, hats and knitwear of Chinese...

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search