Burlington Stores Q2 Profit Tops Estimate; Boosts FY15 Earnings Outlook

(RTTNews) - Burlington Stores, Inc. (BURL) reported net income for the second quarter of $10.9 million, compared to a net loss of $6.5 million for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $14.9 million or $0.19 per share, compared to an adjusted net loss of $0.9 million or $0.01 per sahre in the prior year quarter.

Net sales for the second quarter rose 9.6% to $1.14 billion, with same-store sales up 5.6%.

Analysts polled by Thomson REuters expected the company to earn $0.12 per share on revenue of $1.12 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts net sales growth of 6% to 7% and adjusted earnigs of $0.20 to $0.23 per share. Analysts currently expect the company to earn $0.23 per share on revenue growth of 7.8% for the third quarter.

For the full fiscal year ending January 30, 2016, the company now forecasts net sales growth of 6.5% to 7% and adjusted earnings of $2.27 to $2.32 per share. Previously, the company forecast net sales growth of 6% to 7% and adjusted earnings of $2.15 to $2.25 per share.

Analysts currently expect the company to earn $2.25 per share on revenue growth of $6.7% for the fiscal year 2015.