Burlington Stores Reports Third Quarter FY2024 Financial Results

🌥️Earnings Overview

BURLINGTON STORES ($NYSE:BURL) reported their financial results for the third quarter of FY2024, which ended on October 31 2023. Revenue was up 12.2%, totaling USD 2289.3 million compared to the same period in the prior year. Net income experienced a 189.3% year-over-year increase, amounting to USD 48.6 million.

Price History

The stock opened at $159.9 and closed at $165.1, a 20.7% increase from its last closing price of 136.7. This was the highest closing price of the year and marked an impressive jump in the stock’s value. This demonstrates strong underlying fundamentals and indicates that the company is on track to reach its financial targets for the year. This move is expected to further drive customer engagement and sales growth in the coming year. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Burlington Stores. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Burlington Stores. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Burlington Stores. More…

Key Ratios Snapshot

Some of the financial key ratios for Burlington Stores are shown below. More…

Analysis

At GoodWhale, we recently conducted an analysis of BURLINGTON STORES‘s fundamentals. We found that its Star Chart score was 7 out of 10, indicating a high health score considering its cashflows and debt. This means that BURLINGTON STORES is likely capable of sustaining future operations in times of crisis. We classified BURLINGTON STORES as a ‘gorilla’ type of company, meaning it has achieved stable and high revenue or earning growth due to its strong competitive advantage. Such a company may be of interest to investors who are looking for long-term growth potential. Although BURLINGTON STORES does not offer dividends, they are otherwise strong in terms of assets, growth, and profitability. More…

Peers

The company offers products and services that are in competition with Ross Stores Inc, Chiyoda Co Ltd, Mr Price Group Ltd, and other companies.

– Ross Stores Inc ($NASDAQ:ROST)

Ross Stores Inc is an American chain of off-price department stores headquartered in Dublin, California, with over 1,400 locations in 37 states. The company’s revenues total more than $15 billion as of 2019, making it the second-largest off-price retailer in the United States behind TJX Companies. Ross Stores typically sells brand name clothing, accessories, footwear, and home décor at prices that are 20% to 60% below department and specialty store regular prices.

– Chiyoda Co Ltd ($TSE:8185)

Chiyoda is a Japanese company that provides engineering and construction services. The company has a market cap of 25.87B as of 2022 and a Return on Equity of -2.63%. Chiyoda has been in business for over 70 years and has completed projects in over 80 countries. The company has a strong focus on the oil and gas industry, but also works in the power, chemicals, and other industries.

– Mr Price Group Ltd ($BER:M5M1)

Mr Price Group Ltd is a South African retail chain that was founded in 1985. The company has a market cap of 2.39B as of 2022 and a ROE of 27.7%. Mr Price Group Ltd operates over 1,000 stores across South Africa, Zimbabwe, Mozambique, Lesotho, Botswana, Namibia, and Swaziland. The company offers a wide range of products including clothing, homeware, and cosmetics.

Summary

The company’s stock price also rose on the news of the strong financial performance, making it a great time to consider an investment in Burlington Stores. Moving forward, investors should keep an eye on the company’s sales growth and profitability, as well as maintain a diversified portfolio. Additionally, ongoing monitoring of the stock’s price is crucial to ensure a profitable position in Burlington Stores.