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Burlington Stores beats Street with strong Q4; will open 25 net stores
Burlington, N.J. – Burlington Stores Inc. beat Wall Street expectations for earnings and sales in a strong fourth quarter of fiscal 2014. Reductions in store payroll and advertising helped drive a net income increase of 49% to $94.86 million, from $63.58 million.
Burlington Stores plans to open 25 net new stores in fiscal 2015.
Total revenue grew 10% to $1.5 billion from $1.34 billion. Same-store sales rose 6.7%
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EBay, Sotheby’s launch live auction platform
New York - EBay and Sotheby’s are jointly launching live auctions on EBay. Part of EBay’s new live auctions platform, the service is now available for browsing and advance bidding on Sotheby’s items leading up to the launch of Sotheby’s first live auctions on eBay on April 1.
EBay and Sotheby’s originally announced plans to partner on live auctions in July 2014, and have since worked together to deliver a virtual experience. Sotheby’s first live auctions on eBay will be a themed New York sale and a photographs sale.
