Burlington Stores Q2 Loss Narrows, Lifts FY15 Forecast - Quick Facts

(RTTNews) - Off-price apparel retailer Burlington Stores, Inc. (BURL) reported Tuesday that its second-quarter net loss narrowed significantly to $6.47 million from last year's loss of $25.01 million.

Adjusted net loss, which excluded certain items, was $877 thousand or $0.01 per share, compared to last year's loss of $13.58 million or $0.19 per share last year.

On average, 11 analysts polled by Thomson Reuters expected loss of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $1.05 billion, compared to $971.5 thousand a year ago. Net sales increased 8.3 percent to $1.04 billion from $963.7 thousand last year. Analysts expected sales of $1.03 billion.

This increase includes the 4.7 percent increase in comparable store sales, as well as an increase of $36.3 million from new and non-comparable stores, the company said.

Looking ahead for the third quarter, the company expects adjusted net income per share in the range of $0.09 to $0.12, compared to last year's adjusted loss per pro forma share of $0.05. Net sales are expected to increase in the range of 6.4 percent to 7.4 percent, and comparable store sales are projected to increase in the range of 3.0 percent to 4.0 percent. Analysts expect earnings of $0.11 per share for the quarter.

Further, citing the strong results and expectations for the balance of the year, the company now expects adjusted earnings per share of $1.52 to $1.58 per share, compared to previous estimate of $1.25 to $1.35 per share. Analysts expect earnings of $1.53 per share for the year.

Total sales are now expected to increase in the range of 6.5 percent to 7.2 percent versus its previous expectation of an increase in the range of 5.8 percent to 6.8 percent. Comparable store sales for the full year would now be approximately 3 percent, at the high end of its previous guidance.

These estimates include a comparable store sales increase of 2 percent to 3 percent in the fourth quarter consistent with previous guidance.