Burlington's Profitability Guidance Underwhelms as Year Closes, but Outlook Remains; Shares Rich
After narrow-moat Burlington announced slow sales growth as fiscal 2018 ended and lackluster guidance, we plan a mid-single-digit percentage cut for our $145 per share valuation. As the softness appears attributable to correctable missteps rather than a change in the dynamics underlying our positive view of the off-price channel, our long-term outlook (mid-single-digit top-line growth, 10% adjusted EBIT margin, on average, over the next decade) remains.In fiscal 2018, Burlington saw $6.6 billio...
Burlington Stores is a holding company. Through its indirect subsidiary, Burlington Coat Factory Warehouse Corporation sells merchandise including: women's ready-to-wear apparel, accessories, footwear, menswear, youth apparel, baby, home, coats, beauty, toys and gifts. The company operates stores under the names Burlington Stores, Cohoes Fashions, Super Baby Depot, MJM Designer Shoes and an online store. Cohoes Fashions provides products similar to those offered by Burlington Stores. MJM Designer Shoes provides moderately priced designer and fashion shoes. The Super Baby Depot stores provides baby clothing, accessories, furniture and other merchandise in the middle to higher price range.
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