Burlington Stores Q1 Earnings Beat Estimates; Backs Full-Year Outlook

(RTTNews) - Burlington Stores Inc. (BURL) Tuesday reported first-quarter profit of $11.77 million compared with a loss of $5.56 million last year.

On an adjusted basis, the company earned $18.6 million or $0.25 per share. On average, nine analysts polled by Thomson Reuters expected loss per share of $0.22 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues rose to $1.13 billion from $1.07 billion, meeting consensus estimate. Due to improved execution of the off-price model, comparable store sales increased 2.7 percent year-over-year.

Looking ahead, for the second quarter the firm expects adjusted net loss per share in the range of $0.12-$0.09. Net sales are expected to increase between 5 percent and 6 percent, while comparable store sales are expected to rise 2 percent to 3 percent. Analysts estimate loss per share of $0.09 on revenues of $1.02 billion.

For the full year, the firm continues to expect adjusted net income in the range of $1.25 - $1.35 per share on an increase of net sales between 5.8 percent and 6.8 percent. Comparable store sales are projected to increase 2 percent to 3 percent. Analysts project profit per share of $1.37 on revenues of $4.72 billion.