BURLINGTON STORES BEATS EXPECTATIONS FOR THIRD QUARTER
by Brian Lipton
Nov 24, 2015
Burlington Stores Inc. beat analysts’ expectations for the third quarter, while lowering its yearly guidance forecast.
The company posted earnings of $15 .1 million, and adjusted earnings per share (EPS) came in at $0.25 as opposed to $0.19 EPS in 2014. Wall Street estimates were around $0.23 EPS. Overall sales were about $1.24 billion, below estimates, while comparative store sales increased 2.8 % for the latest quarter.
However, for the fourth quarter, the company expects earnings in the range of $1.44 to $1.48 a share and net sales to jump between 3.7% and 4.7%, all below earlier predictions.
As of 11:20am, the company’s stock had jumped over 7% to 47.44.