×
73 194
Fashion Jobs
L'OREAL GROUP
Senior Manager, Operations Development, l'Oreal Dermatological Beauty
Permanent · Clark
L'OREAL GROUP
Retail Keyholder pt
Permanent · Naperville
L'OREAL GROUP
l'Oreal Vice President, Fragrances (Lid)
Permanent · Miami
L'OREAL GROUP
Senior Manager, Search Lead (SEM, SEO & Paid Search) - l'Oreal Consumer Products Division
Permanent · New York
L'OREAL GROUP
Manager, Operations 2nd Shift (1:00pm - 10:15pm) - Grand Rapids, mi
Permanent · Grand Rapids
L'OREAL GROUP
Packaging Operator (6:45am - 6:55pm Saturday - Monday)
Permanent · Franklin Township
L'OREAL GROUP
vp, Business Development
Permanent · New York
L'OREAL GROUP
Maintenance Manager
Permanent · La Vista
L'OREAL GROUP
Senior Analyst - Assembly Planning
Permanent · Clark
L'OREAL GROUP
Senior Manager, Consumer Engagement
Permanent · Jersey City
L'OREAL GROUP
l'Oreal Marketing Brand Manager, Fragrances
Permanent · Miami
L'OREAL GROUP
Senior Manager - Enational Accounts, Walgreens
Permanent · Deerfield
L'OREAL GROUP
Senior Developer, Project Management, Consumer Product Division
Permanent · Clark
L'OREAL GROUP
Assisted Sell Regional Sales Manager
Permanent · Los Angeles
L'OREAL GROUP
Assisted Sell Regional Sales Manager
Permanent · New York
L'OREAL GROUP
Senior Manager, Global Brand Supply Chain
Permanent · Clark
L'OREAL GROUP
Senior Manager - Customer Service
Permanent · Dallas
L'OREAL GROUP
Senior Manager, Digital Content
Permanent · New York
L'OREAL GROUP
Senior Manager - Demand Planning
Permanent · New York
BLOOMINGDALE'S
Outlet Keyholder Selling, Part Time - Bergen Town Center
Permanent · PARAMUS
BLOOMINGDALE'S
Asset Protection Detective, Full Time - Chestnut Hill
Permanent · Newton
BLOOMINGDALE'S
Asset Protection Detective, Full Time - Boca Raton
Permanent · Boca Raton
Published
May 29, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Burlington Stores updates fiscal 2017 earnings on Q1 sales increase

Published
May 29, 2017

Burlington Stores has updated its fiscal year 2017 earnings outlook, following a first quarter performance that included an increase in total sales and net income and an expansion in gross margin.
 


The company initially provided its first quarter and fiscal 2017 earnings guidance in March, expecting full year adjusted net income per share to be in range of $3.77 to $3.87. Now, Burlington expects its adjusted net Income per share to be in the range of $3.86 to $3.96
 
Delayed tax refunds negatively impacted the off-price retailer in the quarter, and resulted in a slight comparable sales increase of 0.5%. Total sales, however, met expectations by increasing 5.0% to $1,346.5 million driven by $65.1 million in new and non-comparable sales.

Net income for the quarter increased 39.6% to $52.4 million, or $0.73 per diluted share, and adjusted net income increased 36.0% to $56.6 million, or $0.79 per diluted share. Both improvements were driven by top line growth and an 80 basis point margin expansion to 40.9%.
 
SG&A as a percentage of sales was 26.6%, other revenue/other income decreased 30 basis points and adjusted EBITDA increased 13.1% to $136.8 million.
 
“We are pleased with our expansion in operating margin as well as our 39% increase in adjusted net income per share in the first quarter,” said Tom Kingsbury, Chief Executive Officer. “Importantly, momentum built throughout the quarter with combined March and April comparable sales rising 4.5%. It is worth noting that May is off to a solid start.”
 
Burlington reported its full fiscal 2017 outlook and expects net sales to increase in range of 7.3% to 8.1% and comparable store sales to increase in range of 2% to 3%. The company also expects second quarter net sales to increase in the range of 6.7% to 7.7%, comparable store sales to increase in range of 2% to 3%, and adjusted net income to range from $0.46 to $0.50.

Copyright © 2023 FashionNetwork.com All rights reserved.