Burlington Stores Shares Jump 10% Following Q3 Earnings

Burlington Stores (NYSE:BURL) announced earnings of 98 cents per share for the third quarter, surpassing the average analyst expectation of 95 cents.

The company's revenue increased by 12% compared to the same period last year, reaching $2.285 billion, which aligns with the general consensus. Comparable store sales saw a 6% increase, matching the company's own forecasts, slightly above the 5.9% growth anticipated by analysts.

Following this announcement, Burlington's stock experienced a more than 10% surge in pre-market today.

Looking ahead to the current quarter, Burlington expects sales to grow by 5-7%, including a comparable sales range of -2% to 0%. The projected adjusted earnings per share are between $3.04 and $3.19, which is weaker than the forecasted $3.24.

For the entire year, Burlington anticipates its adjusted earnings per share to be in the range of $5.52 to $5.67, compared to a Street estimate of $5.62. Total sales are projected to grow by about 11%, assuming an approximate 3% increase in comparable store sales.