For the fourth quarter ended January 28, Burlington Stores posted net income of $125.6 million, or $1.77 per diluted share, versus $98.8 million, or $1.35 per diluted share, in the year-previous quarter.
Adjusted net income for the quarter was $126.1 million, or $1.78 per share, versus $109.3 million, or $1.49 per share, in the year-earlier quarter, Burlington stated. Adjusted earnings per diluted share exceeded a MarketBeat-published analyst average estimate of $1.70.
Comparable store sales gained 4.6% over the quarter a year prior, according to Burlington. Net sales were $1.69 billion versus $1.54 billion in the quarter a year previous.
For the full fiscal year, net income was $215.9 million, or $3.01 per diluted share, versus $150.5 million, or $1.99 per diluted share, in the year earlier. Adjusted net income was $232.3 million, or $3.24 per share, versus $174.6 million, or $2.31 per share, in the fiscal year earlier.
Comps gained 4.5% over the fiscal year prior, according to Burlington. Net sales were $5.57 billion versus $5.1 billion while revenue was $5.59 billion versus $5.13 million in the year prior.
Tom Kingsbury, Burlington CEO, stated, “We are very pleased that we ended the year on a high note, continuing our favorable momentum from the first three quarters of 2016. For the year, we delivered 9.2% total sales growth, a 100 basis point expansion in adjusted EBITDA margin rate, and a 40% increase in adjusted net income per share. In addition, we ended the year with reductions in both comparable store and aged inventories.”
