Burlington Stores Q4 Profit Increases, Beats Estimates
Burlington Stores recorded higher earnings in the fiscal fourth quarter as comparable sales shot past Wall Street expectations, sending shares higher.
The off-price retailer posted a profit of $260.8 million, or $4.02 a share, for the quarter ended Feb. 1, compared with $227.5 million, or $3.53 a share, in the same period a year earlier.
Stripping out one-time items, adjusted earnings were $4.07 a share. Analysts polled by FactSet had been expecting $3.77 a share.
Revenue rose 4.8% to $3.28 billion, topping analyst projections for $3.24 billion, according to FactSet. Comparable sales were up 6%, well ahead of analyst forecasts for 2.4%.
For the year ahead, Burlington is expecting sales to rise 6% to 8%, and come in flat to up 2% on a comparable basis.
Full-year adjusted earnings are expected to hit $8.70 to $9.30 a share. That includes $1.30 to $1.45 a share in the fiscal first quarter.
Shares up 10.9% to $262.75 in premarket trading.
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