Burlington Stores (BURL) posts better-than-expected results for third-quarter fiscal 2021, driven by …

burlington stores burl posts better than expected results for third quarter fiscal 2021 driven by the solid execution of its

Sumary of Burlington Stores (BURL) posts better-than-expected results for third-quarter fiscal 2021, driven by the solid execution of its…:

  • This story originally appeared on Zacks Shares of Burlington Stores, Inc. BURL have jumped 8.6% in the trading hours on Nov 23, following the robust third-quarter fiscal 2021 results.
  • Quarterly performance was primarily buoyed by the successful execution of the Burlington 2.0 initiative.
  • In fact, new stores, including smaller store prototype, are performing impressively.
  • Net sales increased nearly 30% from the third-quarter fiscal 2019 number to $2,300 million while Other revenues decreased 33.3% to $4.4 million.
  • Comparable-store sales (comps) grew 16% from the third-quarter fiscal 2019 reading.
  • Burlington Stores’ entire key merchandise categories comfortably outperformed their expectations and comp-store sales across all regions of the country performed impressively.
  • Merchandise margins grew 80 bps, more than offset by a 180-bps rise in freight expense.
  • Other Financial AspectsThis presently Zacks Rank #3 (Hold) Burlington Stores ended the reported quarter with cash and cash equivalents of $1,185.4 million, long-term debt of $1,614.6 million and stockholders’ equity of $716.8 million.

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