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.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim