Burlington Stores Reports Strong Sales Growth and Expands Retail Footprint

The discount retailer's Q3 earnings reveal higher net income, while its strategic store openings position it for long-term growth.

Burlington Stores reported a 10.6% increase in net sales for Q3 2024, reaching $2.53 billion, with a 1% rise in comparable store sales.
Net income for the quarter surged 86.6% year-over-year to $90.6 million, driven by improved gross margins and higher sales volumes.
The company opened 147 new stores in 2024, including 64 former Bed Bath & Beyond locations, and plans to add 100 net new stores in 2025.
Burlington continues to benefit from its off-price retail model, leveraging opportunities from bankrupt competitors to secure desirable locations.
CEO Michael O’Sullivan reaffirmed long-term goals to grow the chain to $16 billion in sales by 2028, supported by new store prototypes and supply chain investments.