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%



“The fourth quarter marked an outstanding finish to a strong year of growth for Burlington Stores,” said Tom Kingsbury, chairman, president and CEO. “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 by our store and corporate teams.”



For the full year, net income almost quadrupled to $65.95 million, from $16.15 million. Net sales rose 7% to $4.8 billion from $4.5 billion.