85 406
Fashion Jobs
NEIMAN MARCUS
Senior Manager, Fulfillment Operations
Permanent · PITTSTON
NEIMAN MARCUS
Loss Prevention Investigator- Charlotte
Permanent · CHARLOTTE
LULULEMON
Visual Merchandising Specialist | Toledo Local
Permanent · TOLEDO
LULULEMON
Community Specialist | Martha's Vineyard
Permanent · EDGARTOWN
LULULEMON
Community Specialist | Market Street, Lynnfield
Permanent · LYNNFIELD
LULULEMON
Expeditor (9pm - 2am) | Scottsdale Fashion Square
Permanent · SCOTTSDALE
LULULEMON
Visual Merchandising Specialist | University Place, Orem - Full Time
Permanent · OREM
LULULEMON
Visual Merchandising Specialist | The Shops at Mission Viejo
Permanent · MISSION VIEJO
LULULEMON
Community Specialist | Village Meridian
Permanent · MERIDIAN
NORDSTROM
Customer Service Representative - Montgomery Mall
Permanent · BETHESDA
NORDSTROM
Retail Stock - Chandler Festival Rack
Permanent · CHANDLER
NORDSTROM
Customer Service Representative - Old Orchard Center
Permanent · SKOKIE
NORDSTROM
Chef - Nordstrom Grill - City Creek Center
Permanent · SALT LAKE CITY
NORDSTROM
Retail Stock - Mayfair Collection Rack
Permanent · WAUWATOSA
NORDSTROM
Asset Protection - Agent - International Plaza
Permanent · TAMPA
NORDSTROM
Area HR Business Partner - NE Stores - CT/NY Market
Permanent · NORWALK
NORDSTROM
Retail Stock - The Village at Totem Lake Rack
Permanent · KIRKLAND
NORDSTROM
Service Experience Rep - Fashion Island
Permanent · NEWPORT BEACH
NORDSTROM
Asset Protection - Agent - Pentagon City
Permanent · ARLINGTON
NORDSTROM
Asset Protection - Security Ambassador - Pentagon City
Permanent · ARLINGTON
NORDSTROM
Asset Protection - Agent - Westfield Culver City Rack
Permanent · CULVER CITY
NORDSTROM
Retail Stock - The Palms at Town & Country Rack
Permanent · KENDALL
Published
Aug 24, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Burlington beats 2Q guidance, updates full year outlook

Published
Aug 24, 2017

Burlington Stores raised on Thursday its full year 2017 outlook, following a positive second quarter and first six months of the year.

The New Jersey-based company announced in May that it expected its full year total sales to increase in range of 7.3% and 8.1%, and now it expects total sales to increase in range of 8.4% and 8.9%.


 
Total sales in the second quarter increased 8.6% to $1,363 million, driven by an increase of $70 million from new and non-comparable stores and a 3.5% increase in comparable store sales. The increase in comparable store sales was on top of a 5.4% increase in the prior year’s second quarter.
 
Net income increased 130% to $47 million, or $0.66 per diluted share, and adjusted net income increased 82% to $51 million, or $0.72 per diluted share, both driven by top line growth, margin expansion, and share repurchases since the end of the second quarter in fiscal 2016.

In addition, gross margin expanded by 110 basis points, SG&A as a percentage of sales was 27.1%, and adjusted EBITDA increased 28% to $127 million.
 
For the first half of the fiscal year, total sales increased 6.8%, including a 2.0% increase in comparable store sales. Net income increased 71% to $99 million, or $1.40 per diluted share, adjusted net income jumped 54% to $107 million and diluted adjusted EPS was $1.51.
 
Burlington reaffirmed its full year comparable sales expectations of an increase of 2% to 3%, updated its adjusted EPS guidance to expect an increase in range of $4.11 to $4.18, and plans to open 37 new stores.
 
For the third quarter, the company expects total sales to increase in range of 6.7% to 7.7%, comparable store sales to increase in range of 2% and 3%, and adjusted EPS to be in range of $0.58 and $0.61.

Copyright © 2024 FashionNetwork.com All rights reserved.