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Burlington Stores Inc. (BURL+3.00%) has submitted its 10-K filing for the fiscal year ended February 1, 2025.
The filing reports net sales of $10,616.7 million, an increase from $9,708.9 million in the previous fiscal year. This growth was driven by 101 net new store openings and a 4% increase in comparable store sales.
Cost of sales as a percentage of net sales decreased to 56.8% from 57.5% in the prior year, attributed to higher merchandise margins and improved freight costs.
Selling, general, and administrative expenses were $3,547.0 million, representing 33.4% of net sales, down from 33.9% the previous year. This decrease was primarily due to supply chain efficiency initiatives.
Net income for the fiscal year was $503.6 million, up from $339.6 million in the prior year. The increase was driven by higher sales and improved gross margin rates.
Burlington Stores opened 147 new stores, including 31 relocations, and closed 15 stores during the fiscal year, ending with a total of 1,108 stores.
The company reported a cash flow increase of $69.3 million, with net cash provided by operating activities amounting to $863.4 million.
Capital expenditures for the fiscal year were $843.9 million, with significant investments in store expansions and supply chain initiatives.
Burlington Stores plans to open approximately 100 net new stores in the next fiscal year, continuing its expansion strategy.
The company did not declare any dividends and intends to retain funds for capital expenditures and business initiatives.
Burlington Stores identified risks related to macroeconomic conditions, competition, and inventory management, among others, which could impact future financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Burlington Stores Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.