US off-price retailer Burlington's Q4 FY20 sales rise 4% to $2,279 mn

Burlington Stores, a US-based off-price retailer of high-quality, branded apparel and footwear, posted 4 per cent sales growth to $2,278.9 million in its fourth quarter (Q4) FY20 ended on January 30, 2021 compared to sales of $2,201.3 million in the same period in previous fiscal. The company’s net income for Q4 was $155.9 million (Q4 FY19: $206.3 million).

 

Burlington Stores, a US-based off-price retailer of high-quality, branded apparel and footwear, posted 4 per cent sales growth to $2,278.9 million in its fourth quarter (Q4) FY20 ended on January 30, 2021 compared to sales of $2,201.3 million in the same period in previous fiscal. The company's net income for Q4 was $155.9 million (Q4 FY19: $206.3 million).#

“We saw comparable store sales improve sequentially as the quarter progressed, starting with a double digit decline in November, improving to flat in December, and then accelerating to double-digit growth in January. I was pleased with how we navigated this trend, and utilised core Burlington 2.0 strategies – chasing sales, buying opportunistically and operating with leaner inventories,” Michael O’Sullivan, CEO at Burlington Stores, said in a press release.

 

Burlington Stores, a US-based off-price retailer of high-quality, branded apparel and footwear, posted 4 per cent sales growth to $2,278.9 million in its fourth quarter (Q4) FY20 ended on January 30, 2021 compared to sales of $2,201.3 million in the same period in previous fiscal. The company's net income for Q4 was $155.9 million (Q4 FY19: $206.3 million).#

Gross margin rate for the reported quarter was 42.5 per cent (42.1 per cent). Selling, general and administrative expenses were $704.9 million ($595.3 million).

 

Burlington Stores, a US-based off-price retailer of high-quality, branded apparel and footwear, posted 4 per cent sales growth to $2,278.9 million in its fourth quarter (Q4) FY20 ended on January 30, 2021 compared to sales of $2,201.3 million in the same period in previous fiscal. The company's net income for Q4 was $155.9 million (Q4 FY19: $206.3 million).#

“Looking ahead, the retail environment is likely to remain unpredictable for some time. We are planning 2021 comparable store sales conservatively but will manage liquidity to chase sales if the trend is stronger,” O’Sullivan said.