Burlington Stores(BURL) - 2025 Q4 - Annual Results

Financial Performance - Comparable store sales increased by 6% in Q4 2024, exceeding guidance of 0% to 2%[4] - Q4 net income was $261 million, with diluted EPS of$ 4.02, compared to $227 million and$ 3.53 per share in the prior year[4] - Total sales for FY24 increased by 11% to $10.6 billion, with comparable store sales growth of 4%[8] - Adjusted EPS for FY25 is expected to be in the range of$ 8.70 to $9.30, compared to$ 8.35 in FY24[16] - Net income for the fiscal year ended February 1, 2025, was $503,639, representing a 48.3% increase from$ 339,649 in 2024[30] - Diluted net income per share for the fiscal year ended February 1, 2025, was $7.80, compared to$ 5.23 for the previous year, marking a 49.0% increase[25] - Adjusted Earnings per Share (EPS) for the fiscal year ended February 1, 2025, was $8.17, up from$ 6.06 in the previous year, indicating a 34.8% growth[39] - Net income for the three months ended February 1, 2025, was $260,767,000, compared to$ 227,458,000 for the same period in 2024, which is a 14.6% increase[39] Sales and Revenue - Total revenue for the fiscal year ended February 1, 2025, was $9,727,467, up from$ 9,708,973 in 2024, reflecting a growth of 0.2%[25] - Net sales for the three months ended February 1, 2025, were $3,272,058, an increase of 4.9% compared to$ 3,121,061 for the same period in 2024[25] Expenses and Liabilities - Total liabilities increased to $7,399,917 as of February 1, 2025, compared to$ 6,709,908 as of February 3, 2024, indicating a rise of 10.3%[28] - The company incurred $880,384 in cash paid for property and equipment during the fiscal year ended February 1, 2025, compared to$ 492,644 in 2024[30] - Adjusted SG&A for the fiscal year ended February 1, 2025, was $2,732,929,000, compared to$ 2,491,266,000 in 2024, marking a 9.7% increase[39] Inventory and Assets - Merchandise inventories at the end of FY24 were $1,251 million, a 15% increase from the previous year[9] - Total assets increased to$ 8,770,413 as of February 1, 2025, compared to $7,706,840 as of February 3, 2024, reflecting a growth of 13.8%[28] Future Outlook - The company expects total sales to increase by 6% to 8% in FY25, with comparable store sales projected to grow by 0% to 2%[13] - Capital expenditures for FY25 are estimated to be approximately$ 950 million[13] - The company plans to continue its growth strategy through market expansion and new product development, although specific figures were not disclosed in the call[25] Tax and Interest - The Company's effective tax rate on a GAAP basis for the three months ended February 1, 2025, was 25.0%, down from 27.5% in the same period of 2024[40] - The adjusted effective tax rate for the fiscal year ended February 1, 2025, was 25.4%, consistent with the previous year[40] - The Company reported interest expense of $18,522,000 for the three months ended February 1, 2025, down from$ 19,829,000 in the same period of 2024[39] Adjusted Metrics - Adjusted EBIT margin for FY24 was 7.2%, an increase of 100 basis points compared to FY23[4] - Adjusted EBITDA for the three months ended February 1, 2025, was $451,002,000, compared to$ 414,414,000 for the same period in 2024, reflecting an increase of 8.8%[39] - Adjusted Net Income for the three months ended February 1, 2025, was $263,743,000, compared to$ 235,682,000 for the same period in 2024, representing a 11.9% increase[39] Store Operations - The company opened 101 net new stores in FY24 and relocated 31 older oversized locations[3] - The company ended Q4 2024 with $1,822 million in liquidity, including$ 995 million in unrestricted cash[12]