Burlington Stores Q3 Loss Widens - Quick Facts

(RTTNews) - Burlington Stores Inc. (BURL) posted a wider third-quarter net loss of $16.86 million, compared with a $7.45 million loss last year. Adjusted net loss amounted to $3.33 million, or $0.05 per share during the latest quarter, driven by a reduction of the firm's income tax benefit of $6.5 million and increased interest expense of $5.3 million, partially offset by its operating results. On average, 8 analysts polled by Thomson Reuters expected loss per share of $0.06 for the quarter. Analysts' estimates typically exclude one-time items.

Total net sales went up 10.0% to $1.06 billion in the quarter, versus last year's $967.9 million, whereas six analysts estimated revenues of $1.05 billion. The company said this growth was attributable mainly to a $53.2 million increase in sales related to new stores and stores previously opened that are excluded in its comparable-store sales, and a $37.0 million, or 3.9%, increase in comparable-store sales.

Looking ahead to the fourth quarter, Burlington Stores expects comp store sales to be between 2% - 3%.