Off-price retailer Burlington Stores Inc. bested Wall Street’s estimates for its fourth-quarter, both in earnings per share and revenues.For the three months ended Feb. 2, net income rose 91.7 percent to $240.7 million, or $3.47 a diluted share, from $125.6 million, or $1.77, a year ago. On an adjusted basis, excluding the impact of 2017 Tax Reform, EPS was $2.17 for the period. Total revenues rose 14.9 percent to $1.94 billion from $1.69 billion. Comparable store sales rose 5.9 percent.Wall Street was expecting EPS of $2.10 on revenues of $1.89 billion.Tom Kingsbury, chief executive officer, said, “We also passed several significant milestones in fiscal 2017, as we surpassed $6 billion in total sales, expanded our adjusted earnings before interest and taxes margin by 90 basis points to 8.6 percent, and achieved record low aged inventory and record high comparable store inventory turnover levels.”The company said merchandise inventories at the end of fiscal 2017 were $753 million, versus $702 million last year, with the increase due in part to the additional 37 net new stores opened in the year.For fiscal 2018, the company said it expects total sales to grow 9 percent to 10 percent, with a comps gain of between 2 percent to 3 percent. Adjusted EPS was guided to the range of $5.73 to $5.83. Burlington said it would open between 35 and 40 net new stores during the year.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion
@carmeloanthony is upping his fashion game once again, introducing a hat collection with @goorinbros. Called Fresh Greens by Melo x Goorin, the line consists of five unisex models, all of which are made in America from 100 percent wool. Each hat is lined with Anthony’s signature and the inscription “Knowledge of self, wisdom and understanding.” You can purchase the collection line at Goorin’s website as well as three off its stores in San Francisco, New York City and Las Vegas #wwdaccessories
“I am of tradition, but that doesn’t mean I have an old outlook on life,” Hubert de Givenchy told WWD in an interview in 1978. The legendary designer, who died last week at the age of 91, achieved wide success soon after launching his own couture boutique in the early ’50s, but he refused to pine for that time. For the first time since its original publication, read our interview with Givenchy on his awe for Audrey Hepburn and looking forward. Link in bio. #wwdarchives #fbf (📷: Pierre Schermann)
About last night: @alexachung and @supergausa toasted the launch of their capsule collection. “It’s the shape that I love, so rather than amend the last and make the sole crazy or do anything wild, we just did really subtle additions that I think make it look really luxe-y,” said Chung. #wwdfashion (📷: Marc Patrick)
Exclusive: @off____white’s @virgilabloh is launching an exclusive eyewear capsule collection @sunglasshut. The unisex collection, which is made up of three styles, first made its debut on the brand’s fall runway show in Paris. Get all the details on WWD.com – link in bio. #wwdnews #wwdfashion