Burlington Stores Reports 9.3% Revenue Growth to $10.6 Billion for Fiscal Year Ending February 2025

Burlington Stores, Inc. reported a significant increase in financial performance for the fiscal year ending February 1, 2025, with net sales reaching $10.6 billion, a 9.3% increase from $9.7 billion in the previous fiscal year. The company's net income also rose to $503.6 million, compared to $339.6 million in fiscal 2023, driven by higher sales and an improved gross margin rate of 43.2%, up from 42.5% the previous year. This growth was attributed to the opening of 147 new stores, including 31 relocations, and a 4% increase in comparable store sales.

In terms of operational metrics, Burlington's store count reached 1,108 across 46 states, Washington D.C., and Puerto Rico. The company continues to pursue its long-term goal of operating 2,000 stores, with plans to open approximately 100 net new stores in fiscal 2025. The total gross square footage of all stores increased to 51.8 million square feet, reflecting the expansion strategy. The company also reported an employee headcount of 77,532, with 90% of associates working in stores, indicating a strong workforce to support its retail operations.

Burlington's strategic initiatives have focused on enhancing profitability through various measures, including optimizing inventory management and improving operational flexibility. The company plans to operate with leaner inventories, which is expected to drive faster inventory turnover and reduce markdowns. Additionally, Burlington is investing in its merchandising capabilities to strengthen vendor relationships and improve product sourcing. The company has also made significant investments in its supply chain, including the acquisition of a new distribution center in Ellabell, Georgia, which is expected to be operational by fiscal 2026.

Looking ahead, Burlington acknowledges the challenges posed by macroeconomic conditions, including inflation and changing consumer spending habits. The company is closely monitoring its sales, gross margin, and expenses, and has performed scenario planning to mitigate potential declines in net sales. Despite these uncertainties, Burlington remains optimistic about its growth trajectory and is committed to enhancing its store experience and expanding its product offerings to meet customer demand. The company’s management believes that its strategic initiatives will position it well to navigate the competitive retail landscape and achieve its long-term goals.