• Q4 earnings fall to US$63.6m
  • Gross margin up by 30 bsp
  • Net sales grow 1.3%

Off-price apparel retailer Burlington Stores saw earnings fall in its fourth-quarter as higher costs offset an increase in revenues.

For the three months ended 1 February, earnings dropped to US$63.6m from $67.9m a year earlier. Excluding losses on extinguishment of debt, write-downs and other items, earnings fell to $1.07 per share from $1.15.

Gross margin, however, expanded by 30 basis points, primarily due to improved merchandising margins.

Net sales were also up, by 1.3% to $1.33bn, while comparable store sales increased 4%.

The company has forecast first-quarter adjusted earnings of $0.19 to $0.23 per share, and a same-store sales rise of 2% to 3%.