The fourth quarter generated better-than-expected results for Burlington Stores.
Net income was $260.8 million, or $4.02 per diluted share, versus $227.5 million, or $3.53 per diluted share, in the year-before period, the company noted. Adjusted for one-time events, net income was $263.7 million, or $4.07 per diluted share, versus $235.7 million, or $3.66 per diluted share, in the year-previous period.
Burlington topped a Zacks Investment Research analyst consensus earnings per diluted share estimate of $3.76 and an earnings forecast by 0.49%.
Comparable sales advanced 6%. Sales were $3.27 billion while total revenue was $3.28 billion versus $3.12 billion and $3.13 billion, respectively, in the year-prior period.
Net income was $503.6 million, or $7.80 per diluted share, versus $339.6 million, or $5.23 per diluted share, in the year before, Burlington reported. Adjusted net income was $527.9 million, or $8.17 per diluted share, versus $393.4 million, or $6.06 per diluted share, in the year previous.
Sales were $10.62 billion while total revenue was $10.63 billion versus $9.71 billion and $9.73 billion, respectively, in the year prior.
Ross Stores CEO Michael O’Sullivan said, “We are pleased with our strong performance in the fourth quarter. Comparable store sales increased 6%. This growth was driven by deliberate strategies that were well executed by our merchants, supply chain and stores teams. The fourth quarter demonstrated the merits of Burlington 2.0 and the strength of our off-price business model. We also saw very strong earnings growth during the fourth quarter. Adjusted EBIT margin was 60 basis points above the high end of our guidance, while adjusted EPS increased 12% versus the fourth quarter last year. This performance was driven by ahead of plan sales, an increase in gross margin and better than expected progress in our supply chain initiatives.”
In looking at the recent fiscal year overall, O’Sullivan said: “Total sales increased 11%, comparable store sales increased 4%, and Adjusted EBIT Margin increased 100 basis points. We opened 101 net new stores in 2024 and relocated 31 of our older oversized locations. We are very pleased with all these metrics. They represent significant progress towards our longer-term financial goals. The outlook for 2025 is very uncertain, and we will plan and manage our business accordingly. That said, this is the kind of environment where the off-price model is at its best. We will manage our business cautiously and flexibly and be ready to react to whatever happens externally. This approach served us well in 2024 and we hope for the same in 2025.”
