Traders Checklist Stock: Burlington Stores, Inc. (NYSE: BURL)

Burlington Stores, Inc. (NYSE: BURL) negotiated 945,944 shares against it an average volume of 899,020 shares. The stock concluded the recent trade at $157.59 with upbeat trend move of +0.62%. The company has total market value of 10.655B billion. The company has got a 52-week exceptional price of $158.96 and reached a 52-week lowest of the share price at $79.07. The daily trading range was observed between a day’s low price of $155.93 to a day’s high price of $158.04.

Burlington Stores, Inc. (NYSE: BURL) reported its first quarter results for the thirteen weeks ended May 5, 2018, which compare to the thirteen weeks ended April 29, 2017.

Fiscal 2018 First Quarter Operating Results:

Total sales for the 13 week period ended May 5, 2018 increased 12.8% over the 13 week period ended April 29, 2017 to $1,518M. New and non-comparable stores contributed an incremental $82M in sales during the quarter. Accounting for the calendar shift from the 53rd week in Fiscal 2017, comparable store sales increased 4.8% for the 13 weeks ended May 5, 2018 contrast to the 13 weeks ended May 6, 2017.

Gross margin expanded by about 35 basis points over last year’s levels to 41.2% driven primarily by increased merchandise margin, which was slightly offset by higher freight costs. Product sourcing costs, which are included in selling, general and administrative expenses (SG&A), were about 5 basis points higher as a percentage of sales versus the Fiscal 2017 first quarter.

SG&A, less product sourcing costs, as a percentage of sales was 26.1%, representing an about 45 basis point improvement contrast with the Fiscal 2017 first quarter. This improvement was driven by leverage in store occupancy and other store related costs as a result of the strong comparable store sales increase during the quarter.

The effective tax rate improved 1,300 basis points to 17.4%, driven by the impact of the Tax Cuts and Jobs Act, enacted in December 2017 (“2017 Tax Reform”), and the accounting for stock based compensation.

Net income increased 58% over the previous year period to $83M, or $1.20 per share vs. $0.73 last year, and Adjusted Net Income increased 54% to $87M, or $1.26 per share, vs. $0.79 last year. These improvements were driven primarily by top line growth, expense leverage, share repurchases since the end of the first quarter last year, and lower tax rates.

Burlington Stores, Inc.’s (BURL) stock price showed strong performance of 4.31% in last seven days, switched up 4.61% in last thirty days and it rose 80.60% in last one year.

It has 66.27 million of outstanding shares and its shares float measured at 66.27.

Fully diluted shares outstanding amounted to 69.0M at the end of the quarter contrast with 71.5M at the end of last year’s first quarter. The decrease was primarily the result of share repurchases under the Company’s share repurchase program, discussed in more detail below. Since the end of the first quarter of Fiscal 2017, and through the end of the first quarter of Fiscal 2018, the Company has repurchased about 3M shares of its ordinary stock under its share repurchase program.

Adjusted EBITDA increased 21%, or $28M above the previous year period, to $165M. The 70 basis point expansion in Adjusted EBITDA as a percentage of sales was primarily driven by expense leverage and gross margin expansion. Adjusted EBIT increased 26%, or $25M above the previous year period, to $120M. The 85 basis point expansion in Adjusted EBIT as a percentage of sales was primarily driven by the same factors driving Adjusted EBITDA margin expansion.

Andrew Carr

Andrew Carr covers the Business news across the all us market sectors for Streetobserver.com. He has over 5 years experience writing financial and business news. He is a graduate of the University of Florida graduating with an MBA. He focuses on adding value to investors' portfolios via thoroughly checked proprietary information and data sources. He has a very strong interest in stock trading, and other various investments. He currently lives in Fort Myers, FL with his wife Heidi.

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