Burlington Stores, IncNYSE
Turning Skeptical On Burlington Stores
Tue, Nov. 29, 10:06 AM
- Cyber Monday online sales increased 12.1% to $3.45B, according to an updated tally from Adobe.
- Mobile spending was up 34% Y/Y to $1.07B to account for 31% of sales.
- Conversion rates were highest for desktops at 6.3%, while smartphones (2.8%) and tablets (5.1%) were still above holiday averages.
- Holiday shopping season sales through November 28 are up 7.6% to $39.97B.
- The S&P Retail ETF (NYSEARCA:XRT) is up 1.81% over the last week to outpace broad market averages. The list of outperformers over the last week -- which factors in the pre-Thanksgiving buzz, Black Friday reports, and Cyber Monday numbers -- includes Target (NYSE:TGT), Wal-Mart (NYSE:WMT), Hasbro (NASDAQ:HAS), Mattel (NASDAQ:MAT), Staples (NASDAQ:SPLS), DSW (NYSE:DSW), Barnes & Noble (NYSE:BKS), Dollar Tree (NASDAQ:DLTR), Dollar General (NYSE:DG), Burlington Stores (NYSE:BURL), The Children's Place (NASDAQ:PLCE) and Best Buy (NYSE:BBY). An interesting sidenote is that all the retail names listed above topped the return of Amazon for the 5-session period.
Tue, Nov. 22, 12:48 PM
Tue, Nov. 22, 10:01 AM
- Dollar Tree (NASDAQ:DLTR) is up 11% after delivering a solid quarter that included an increase in Family Dollar acquisition benefits.
- Burlingon Stores (NYSE:BURL) races 15% higher after its Q3 results topped expectations.
- DSW (DSW +7.5%) and Chico's (CHS +7.3%) also turned in solid reports to round out the good cheer in the sector.
- Other retailers on the move include Dollar General (DG +3.1%), Big Lots (BIG +3.8%), Ollie's Bargain Outlet Holdings (OLLI +1.9%), American Eagle Outfitters (AEO +3.5%), Five Below (FIVE +2.8%), and Fred's (FRED +1.8%).
- Even the bigger chains are bringing in buyers, with Target (TGT +1.3%), Wal-Mart (WMT +1.5%), Staples (SPLS +1.8%) and Office Depot (ODP +3.2%) all ahead of broad market averages.
- The general theme in the retail sector today is margin improvement as some merchandise and operational costs were shown to have been reeled in to improve profitability.
Tue, Nov. 22, 9:17 AM
Tue, Nov. 22, 7:29 AM
- Burlington Stores (NYSE:BURL) reports comparable-store sales rose 3.7% in Q3.
- Gross margin rate improved 140 bps to 41.2% driven by strong merchandise margins.
- SG&A expense rate down 40 bps to 28.5%.
- Adjusted EBITDA grew 32.7% to $109.58M.
- Merchandise Inventories -11.9% Y/Y to $822.5M.
- Q4 Guidance: Net sales: +6.6% to +7.6%; Comparable-store sales: +2.5% to +3.5%; Adjusted diluted EPS: $1.63 to $1.67; Fully diluted share count: ~71.3M.
- FY2016 Guidance: Net sales: +8.4% to +8.7%; Comparable-store sales: +3.9% to +4.2%; Adjusted EBITDA margin: +70 bps to +80 bps; Interest expense: ~$57M; Adjusted diluted EPS: $3.11 to $3.15; Fully diluted share count: ~71.8M; Net new stores: 25.
Tue, Nov. 22, 6:47 AM
Mon, Nov. 21, 5:30 PM
Mon, Nov. 7, 7:02 AM
- Burlington Stores (NYSE:BURL) responds to a report posted on Seeking Alpha by Spruce Point Capital Management on November 3.
- The company says it stands by its financial statements and "emphatically denies" the claims made in the report.
- Shares of Burlington fell 7% last week, but are still up over 60% YTD.
Tue, Aug. 30, 10:16 AM
- There's more confirmation that consumers are doing the heavy lifting in the U.S. to prop up GDP while business investment falls short.
- "Consumer confidence improved in August to its highest level in nearly a year, after a marginal decline in July," noted The Conference Board director Lynn Franco.
- Some analysts think the slowdown in auto sales is freeing up some spending in other areas, although certain sectors that rely on foot traffic (restaurants, department stores) aren't necessarily seeing the bounce.
- Companies that line up neatly with millennial trends seem to be the ones making the outrageous gains in the retail sector. Ulta Salon (NASDAQ:ULTA), Domino's Pizza (NYSE:DPZ), Burlington Stores (NYSE:BURL), and Amazon (NASDAQ:AMZN) come to mind -- with the four generating returns ranging from 40% to 60% over the last year.
- ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PEZ, PMR, PSCD, JHMC.
Thu, Aug. 25, 8:41 AM
- Burlington Stores (NYSE:BURL) reports comparable-store sales rose 5.4% in Q2.
- Gross margin rate up 40 bps to 39.6%.
- SG&A expense rate improved 110 bps to 27.3%.
- Adjusted EBITDA increased 31.4% to $99.1M.
- Merchandise Inventories -7.1% Y/Y to $745M.
- Q3 Guidance: Net sales: +7.1% to +8.1%; Comparable-store sales: +2.5% to +3.5%; Adjusted diluted EPS: $0.30 to $0.32; Fully diluted share count: ~72M.
- FY2016 Guidance: Net sales: +7.8% to +8.3%; Comparable-store sales: +3.6% to +4.1%; Adjusted EBITDA margin: +50 bps to +60 bps; Interest expense: ~$59M; Adjusted diluted EPS: $2.92 to $2.96; Fully diluted share count: ~72.1M; Net new stores: 25.
- BURL +3.18% premarket.
Thu, Aug. 25, 6:46 AM
Wed, Aug. 24, 5:30 PM
Mon, Jul. 18, 10:03 AM
- Burlington Stores (BURL +5.1%) announced the launch of a debt repricing transaction and updates Q2 guidance.
- Debt repricing: The company says it's seeking commitments from lenders under a new senior secured credit facility for an aggregate principal amount of $1.117B and expects the new senior secured credit facility to comprise a single tranche of term loans maturing in 2021. The net proceeds of the new senior secured credit facility will be used to repay all indebtedness outstanding under the existing term loan B facility (4.25%), and to pay related fees and expenses. The company is seeking pricing of 2.75% to 3.0% plus a 0.75% LIBOR floor versus the current 3.25% plus a 1% LIBOR floor.
- Updated guidance: Comparable store sales for FQ2 are expected to increase between 4.2% and 4.5%. Burlington also sees adjusted EBITDA in the range of $88M to $90M. Adjusted net income per share of $0.28 to $0.30 is anticiapted.
- Source: Press Release
Thu, May 26, 2:30 PM
- Discounters are rallying in full force after Dollar General (DG +4.6%) and Dollar Tree (DLTR +12.5%) both posted Q1 profit ahead of expectations.
- Steady consumer demand, tight expense control, and an easing of promotional pressure underpinned both reports.
- Retail Dive may have arrived at the heart of the matter, by noting that dollar stores attract different shoppers than the retailers which have been ravaged by Amazon's growth.
- "We are part of what I consider, in this economic environment, the most attractive sector in retail," said Dollar Tree CEO Bob Sasser.
- Investors seem to agree. Ollie's Bargain Outlet Holdings (OLLI +7.6%), Burlington Stores (BURL +7.8%), Big Lots (BIG +2.7%), Five Below (FIVE +2.9%), Ross Stores (ROST +0.9%), TJX Companies (TJX +1%), Tuesday Morning (TUES +1.9%), and Fred's (FRED +6.2%) are all pushing higher.
Thu, May 26, 9:18 AM| Thu, May 26, 9:18 AM | 1 Comment
Thu, May 26, 7:08 AM
- Burlington Stores (NYSE:BURL) reports comparable-store sales rose 4.3% in Q1.
- Gross margin rate grew 35 bps to 40.1%.
- SG&A expense rate improved 60 bps to 26.7%.
- Adjusted EBITDA expanded 19.3% to $121M.
- Merchandise Inventories -2.1% Y/Y to $804.7M.
- Q2 Guidance: Net sales: +6.3% to +7.3%; Comparable-store sales: +2.5% to +3.5%; Adjusted diluted EPS: $0.20 to $0.23; Fully diluted share count: ~72.3M.
- FY2016 Guidance: Net sales: +7.1% to +7.6%; Comparable-store sales: +3% to +3.5%; Adjusted EBITDA margin: +30 bps to +40 bps; Interest expense: ~$62M; Tax rate: ~37.8%; Adjusted diluted EPS: $2.68 to $2.78; Fully diluted share count: ~72.4M; Net new stores: 25.