BUZZ-Burlington Stores falls after downbeat Q3 results

Reuters
2024-11-26
BUZZ-Burlington Stores falls after downbeat Q3 results

** Shares of off-price retailer Burlington Stores BURL.N fall as much as 4% to $280

** Co posts Q3 revenue of $2.53 bln, below analysts' estimates of $2.55 bln, as warmer temperatures in mid-September hurt sales in cold-weather categories

** Reports adjusted EPS of $1.55, in line with estimates - data compiled by LSEG

** Also sees Q4 adjusted EPS in the range of $3.55 to $3.75, below estimates of $3.77

** Expects total sales to increase in the range of 5% to 7%, generally above consensus of a 5% growth

** Brokerage Telsey Advisory Group says BURL's Q3 report is a bit of a mixed bag; sees the underlying trends remaining solid, and the fourth quarter guidance as potentially conservative

** Up to Monday's close, stock had risen 50% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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