Burlington Stores, Inc. (NYSE: BURL), a nationally recognized off-price retailer of high-quality, branded apparel, footwear, accessories, and merchandise for the home at everyday low prices, today announced its results for the first quarter ended May 1, 2021.
Michael O’Sullivan, CEO, stated, “We are pleased with our first quarter results. There were numerous factors that contributed to improved traffic and consumer spending in the quarter – including the latest stimulus checks, the pace of the vaccine roll-out, and pent-up consumer demand. We were able to chase the very strong trend and maximize our share of this sales opportunity through strong execution of our Burlington 2.0 strategies.” First Quarter 2021 comparisons are made versus the First Quarter 2019- Total sales increased 35% compared to the first quarter of Fiscal 2019 to $2,191 million, while comparable store sales increased 20% compared to the first quarter of Fiscal 2019.
- Gross margin rate was 43.3% vs. 41.0% for the first quarter of Fiscal 2019, an increase of 230 basis points.
- Net income increased 120% to $171 million, or $2.51 per share vs. $78 million, or $1.15 per share for the first quarter of Fiscal 2019, and Adjusted Net Income was $176 million, or $2.59 per share vs. $85 million, or $1.26 per share for the first quarter of Fiscal 2019.
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About Burlington Stores, Inc. Burlington Stores, Inc., headquartered in New Jersey, is a nationally recognized off-price retailer with Fiscal 2019 net sales of $7.3 billion. The Company is a Fortune 500 company and its common stock is traded on the New York Stock Exchange under the ticker symbol “BURL.” The Company operated 769 stores as of the end of the third quarter of Fiscal 2020, in 45 states and Puerto Rico, principally under the name Burlington Stores. The Company’s stores offer an extensive selection of in-season, fashion-focused merchandise at up to 60% off other retailers’ prices, including women’s ready-to-wear apparel, menswear, youth apparel, baby, beauty, footwear, accessories, home, toys, gifts and coats. For more information about the Company, visit www.burlington.com.
