Burlington Stores Falls 5% On Decreased Outlook

(RTTNews) - Shares of Burlington Stores, Inc. (BURL) are falling more than 5% Thursday morning after the off-price retailer cut its full-year outlook.

For the full year, the company now expects sales to increases in the range of 11%-12%, down from 12%-14% guided earlier. Burlington sees adjusted EPS for the full year excluding the expected incremental expenses associated with the recently acquired Bed Bath & Beyond leases to be in the range of $5.37-$5.67, lower than the previously-provided range of $5.50-$6.00. Analysts expect the company to report earnings of $5.89 per share on sales growth of 11.8% for the year.

For the second quarter, Burlington reported net profit of $30.89 million or $0.47 per share, higher than $11.97 million or $0.18 per share in the same quarter a year ago, helped by revenue growth.

Excluding one-time items, adjusted earnings were $39 million or $0.60 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.43 per share.

Sales for the quarter increased 9% to $2.174 billion from $1.988 billion last year. The consensus estimate was for $2.17 billion.

BURL, currently at $161.16, has traded in the range of $106.47 - $239.94 in the last 1 year.