Burlington Stores fourth-quarter earnings top estimates
Investing.com — Burlington Stores (NYSE:BURL) has posted fourth-quarter income that topped average analyst estimates, although the off-price department store chain flagged some caution around the short-term operating environment.
Adjusted earnings per share (EPS) grew to $3.66 in the three months ended on Feb. 3, up from $2.96 in the year-ago period and above Bloomberg consensus projections of $3.30.
Revenue rose by 14% year-on-year to $3.13 billion, also ahead of forecasts of $3.06 billion.
New Jersey-based Burlington Stores guided for adjusted EPS of $7.00 to $7.60 in its 2024 fiscal year, adding that the projection excludes $0.11 in anticipated expenses from the firm's recent acquisition of locations formerly owned by failed big-box retailer Bed Bath & Beyond (OTC:BBBYQ).
In a statement, Chief Executive Michael O'Sullivan flagged that Burlington is taking a cautious approach to trading in the near-term, adding that there is «a lot of uncertainty in the external environment.»
"[W]e are planning our business flexibly, and we are ready to chase if the sales trend is stronger,” O'Sullivan said.
Analysts at BMO Capital Markets called Burlington's results «strong,» noting that the full-year earnings per share guidance was «nicely above» the high end of Wall Street estimates.
Shares rose in premarket U.S. trading on Thursday.
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