Boston, MA 03\/20\/2014 (wallstreetpr) –\u00a0Burlington Stores Inc. (NYSE:BURL)<\/b> a national off-price retailer operating 503 stores has posted its fourth quarter and full year operating results for the fiscal year ending February 1, 2014. Strong sales mired the fourth quarter with comparable store sales growing by 4.7%. The results mostly benefited from comps of 4% as the company continues to execute its off-price model.<\/p>\n
\u00a0Fourth quarter operating results<\/b><\/p>\n
Net sales for the quarter came in at $1.33 billion an increase of 1.3%, prior year net sales included approximately $54 million earned in the 53rd<\/sup> week, ended February 2, 2013.<\/p>\n Burlington Stores gross margin for the period expanded by 30 basis points as a result of merchandising margins with costs for processing goods and administrative expenses also surging by the same rate. The company\u2019s selling and administrative expenses as a percentage of net sales for the fourth quarter stood at 28% compared to 27% for the same period last year.<\/p>\n Burlington Stores adjusted EBITDA surged by 2.2% to a high of $194.8 million compared to that of the same period last year. Depreciation and amortization expenses decreased by $0.9 million to $35.1 million. The retail Stores\u2019 Adjusted net income for the quarter slightly dropped to a low of $81 million down from a high of $82.4 million reported for the same period last year<\/p>\n Full year results<\/b><\/p>\n Burlington comparable store sales for the year surged by 4.7% with net sales increasing by 7.2% r to a high of $4.43 billion. The prior year net sales was inclusive of $54 million that was associated with the 53rd<\/sup> week.<\/p>\n The company\u2019s gross margin for the year expanded by 30 basis points as a result of strong merchandising margins. Selling and administrative expenses as a percentage of net sales improved to 31.4% vs 31.7% for last year. The company\u2019s adjusted EBITDA was up by 15.6% to a high of $383.7 million representing a 70 basis point growth.<\/p>\n Internet expenses for the year grew by $13.8 million with adjusted tax expenses coming in at $47.1 million against $23.1 million reported last year. Full year net income clocked at a high of $70.2 million with the company closing the year with cash and cash equivalent amounting to $133 million.<\/p>\n","protected":false},"excerpt":{"rendered":" Boston, MA 03\/20\/2014 (wallstreetpr) –\u00a0Burlington Stores Inc. (NYSE:BURL) a national off-price retailer operating 503 stores has posted its fourth quarter and full year operating results […]<\/p>\n","protected":false},"author":12,"featured_media":17708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[5348,5349],"stock_ticker":[],"class_list":["post-17707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-burlington-stores-inc-nyseburl","tag-nyseburl","entry"],"acf":[],"yoast_head":"\n