On Tuesday, Shares of eBay Inc (NASDAQ:EBAY), included 0.21% and shut at $29.06 inside the end purchasing and offering session. The last exchanging scope of the stock ranges amongst $28.93 and $29.44. A new national survey reveals the overwhelming majority of Americans (81%) increasingly struggle when it comes to finding perfect holiday gifts.1 Nearly two-thirds (65%) of shoppers agree traditional gift guides alone are not the answer, and 74% of Millennials cite the decline in personal conversations for their dearth of gift inspiration. To address this need, eBay delivers a new way to approach holiday gifting – by assisting people have more thoughtful conversations with their friends and family, leading to better gift ideas. Released recently, eBay’s #GiftAims guides shoppers on a journey via social media, starting with engaging conversation topics and culminating with gift inspiration – all mapped to 12 different personality types, counting the “Wellness Guru,” “Décor Connoisseur” and the “Foodiest Friend.”
Shares of Burlington Stores Inc (NYSE:BURL), added 15.99% and shut at $86.04 inside the last exchanging session. The rest of the purchasing and offering scope of the stock levels among $81.95 and $87.54. The association’s commercial center capitalization is $5.84 Billion with the general uncommon loads of 71.34 million. Burlington Stores, Inc. (BURL), a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, recently declared its results for the third quarter and nine months ended October 29, 2016.
Tom Kingsbury, Chief Executive Officer stated, “We are very happy with our third quarter results, which exceeded our sales and earnings guidance, continuing our strong momentum from the first half of the year. Our ability to execute our off-price model by delivering fresh product, compelling value, and sought after brands continues to serve us well. In the quarter, we delivered our 15th successive quarter of positive comparable store sales. I would like to thank all of our associates for their contributions to our third quarter and year to date results.”
Fiscal 2016 Third Quarter Operating Results (for the 13 week period ended October 29, 2016 contrast with the 13 week period ended October 31, 2015):
Net sales raised 9.1%, or $111.7 million, to $1,342.6 million. This growth was driven by a 3.7% increase in comparable store sales and $69.8 million in sales from new and non-comparable stores. The Company’s 3.7% comparable store sales increase follows a 2.8% increase in the third quarter of Fiscal 2015.
Gross margin expanded by 140 basis points to 41.2% driven by strong merchandise margins. This more than offset a 20 basis point increase in product sourcing costs, which are included in selling, general and administrative expenses (SG&A).
SG&A, less product sourcing costs, as a percentage of net sales was 28.5%, representing about 40 basis points of improvement contrast with last year. This improvement was driven by greater leverage in advertising, store occupancy and store payroll expense, partially offset by a boost in incentive compensation.
The effective tax rate was 35.0% contrast with 37.7% last year, mainly related to a decrease in state tax rate and a boost in federal hiring credits.