Sales in fiscal 4Q17
Burlington Stores (BURL) generated net sales of $1.94 billion in fiscal 4Q17, which ended on February 3, 2018. It exceeded analysts’ consensus sales estimate of $1.89 billion. Net sales grew 14.9% on a year-over-year basis.
Excluding the impact of the additional week in fiscal 4Q17, which added $82 million, Burlington Stores’ sales grew 10% on a year-over-year basis.
Ross Stores’ (ROST) sales rose 15.9% to $4.1 billion in fiscal 4Q17. Growth resulted from improved traffic and increased average basket size. TJX Companies’ (TJX) sales increased 15.8% to $11 billion, driven by higher consumer traffic.
Behind the strong sales growth
Burlington Stores’ sales growth in fiscal 4Q17 was better than its 7.1% growth in fiscal 3Q17 and 9.4% growth in fiscal 4Q16. A strong holiday season helped the company deliver impressive sales in fiscal 4Q17.
Sales growth in fiscal 4Q17 was driven by incremental sales from new and non-comparable stores and a 5.9% increase in same-store sales. However, sales were lower by $25 million due to weather-related store closings. Same-store sales growth in fiscal 4Q17 was driven by higher traffic.
Merchandising categories that performed well in the quarter included home, beauty, men’s sportswear, ladies sportswear, and men’s, kids, and athletic shoes.
Fiscal 2017 sales
For fiscal 2017, the company’s net sales rose 9.3% to $6.1 billion. Excluding the impact of the 53rd additional week, its net sales rose 7.8% to $6 billion. Its same-store sales rose 3.4%.
For fiscal 2018, Burlington Stores expects its sales to grow in the range of 9% to 10% compared to fiscal 2017 sales (excluding the 53rd week).