Burlington Stores, Inc. Revises Earnings Guidance for the Fourth Quarter and Fiscal Year Ending January 30, 2016
January 11, 2016 at 04:30 pm
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Burlington Stores, Inc. revised earnings guidance for the fourth quarter and fiscal year ending January 30, 2016. For the fourth quarter ending January 30, 2016, the company currently expects: Net sales to increase approximately 3.7%, versus its previous guidance of an increase of 3.7% to 4.7%; Comparable store sales to be approximately flat, on top of last year's 6.7% increase, versus its prior guidance in the range of flat to up 1%; and adjusted net income per diluted share to be in the range of $1.44 to $1.46 on 73.4 million fully diluted shares outstanding, versus its prior guidance in the range of $1.44 to $1.48 on 74.4 million fully diluted shares outstanding.
For the full fiscal year 2015 (the 52-weeks ending January 30, 2016), the Company currently expects: Net sales to increase approximately 5.9%, versus its prior guidance of an increase in the range of 5.8% to 6.3%; Comparable store sales for the full year to increase approximately 2.0%, versus its prior guidance of an increase between 2.0% to 2.5%; and adjusted net income per diluted share in the range of $2.28 to $2.30 on 75.5 million fully diluted shares outstanding, versus its prior guidance in the range of $2.28 to $2.32 on 75.7 million fully diluted shares outstanding.
Burlington Stores, Inc. is an off-price retailer of branded apparel, footwear, accessories, and merchandise for the home at everyday low prices. The Companyâs stores offer an extensive selection of in-season, fashion-focused merchandise, including womenâs ready-to-wear apparel, menswear, youth apparel, baby, beauty, footwear, accessories, home, toys, gifts, and coats. It has five distribution centers. Its two east coast distribution centers are located in Edgewater Park, New Jersey and Burlington, New Jersey. Its three west coast distribution centers are located in San Bernardino, California, Redlands, California, and Riverside, California. These five distribution centers occupy an aggregate of about 4,106,000 square feet, and each includes processing, shipping, and storage capabilities. In addition to the distribution centers, it has arrangements with third parties for the use of pool point facilities. It operates about 1007 stores, principally under the name Burlington Stores.