Burlington shares soar after the off-price retailer smashes Q4 estimates
The New Jersey retailer buttoned up big sales numbers as consumers kept bargain hunting.
Shares of Burlington Stores jumped nearly 12% Thursday morning after the retailer delivered a blowout Q4 earnings report.
Sales climbed 5% to $3.27 billion for the quarter, in line with analyst expectations, while adjusted earnings per share came in at $4.13, easily topping estimates of $4.07, according to FactSet. But the star of the show was same-store sales, which surged 6%, crushing the company’s initial 0% to 2% guidance.
The New Jersey-based off-price retailer, which sells apparel and home goods at up to 60% off full retail prices, also saw full-year net income jump 48% to $504 million. Burlington credits its recent store expansion strategy as a key growth driver. The company opened 101 net new stores last year and relocated 31 older, oversized locations. The company is targeting 500 net new store openings between 2024 and 2028.
Looking ahead, Burlington expects total sales growth between 6% and 8% for fiscal 2025. CEO Michael O’Sullivan noted that while “the outlook for 2025 is very uncertain” as consumer spending potentially slows, the company’s off-price model is well suited for that environment. Shares of Burlington are up nearly 30% over the past year.
