Summary
Burlington Stores, Inc.'s 2017 10-K filing, as of March 20, 2018, reveals a company focused on its off-price retail model, emphasizing value and brand names to a broad customer base. The company operated a significant number of stores across the United States and continued to invest in its store base and supply chain to support growth and efficiency. Management's discussion and analysis (MD&A) likely details the company's performance drivers, including comparable store sales, gross margin, and inventory management, crucial metrics for understanding its operational health and profitability.
Financial Highlights
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Financial Statements
Beta
| Revenue | $6.11B |
| Cost of Revenue | $3.56B |
| Gross Profit | $2.55B |
| SG&A Expenses | $1.86B |
| Operating Expenses | $5.68B |
| Net Income | $384.85M |
| EPS (Basic) | $5.64 |
| EPS (Diluted) | $5.48 |
| Shares Outstanding (Basic) | 68.29M |
| Shares Outstanding (Diluted) | 70.29M |
Key Highlights
- 1The company operates a significant off-price retail model, offering branded merchandise at lower prices.
- 2Focus on store expansion and modernization as a key growth strategy.
- 3Emphasis on inventory management and supply chain efficiency to support the off-price model.
- 4Disclosure of various risk factors impacting the business, including competition, economic conditions, and operational risks.
- 5Detailed financial statements and MD&A providing insights into revenue, profitability, and financial condition.
- 6Information on corporate governance, executive compensation, and security ownership.
Frequently Asked Questions
Burlington's primary business strategy is to operate as an off-price retailer, offering branded apparel, accessories, and home goods at prices generally 20% to 60% below department store prices. They focus on providing value to customers by offering a wide assortment of merchandise from national brands and designer labels.
Key risks highlighted in the filing include intense competition in the retail sector, particularly from other off-price retailers and general merchandise discounters. Economic downturns that reduce consumer spending power, changes in consumer preferences, inventory management challenges, supply chain disruptions, and the ability to maintain brand relationships are also significant risks.
Burlington's growth is supported by strategic investments in its store base, which includes opening new stores and relocating or renovating existing ones. They also focus on enhancing their supply chain and distribution capabilities to improve efficiency and the speed at which merchandise reaches stores, thereby supporting their off-price model and ability to offer compelling value.
Investors should pay close attention to comparable store sales growth, gross profit margin trends, inventory turnover, selling, general, and administrative (SG&A) expenses, and net income. The MD&A section will provide context for these figures, explaining the factors driving performance, such as merchandising strategies, promotional activities, and operational efficiencies.