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.
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)