Burlington Stores Expects Q4 Profit Below View, Revises Annual Outlook; Pre-Market Stock Down

Burlington Stores

251.95 CHF -1.90%

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Kaufen / Verkaufen

(RTTNews) - Burlington Stores, Inc. (BURL), a department store retailer, on Tuesday initiated fourth-quarter earnings outlook, that came in analysts' estimates. In addition, the company has revised its annual profit guidance.

For the fourth quarter, the company expects adjusted income per share of $3.55 to $3.75 per share. On average, 20-analysts polled by Thomson Reuters forecast the firm to earn $3.78 per share, for the quarter. Analysts' estimates typically exclude special items.

The retailer anticipates its fourth-quarter total sales to increase in the range of 5 to 7 percent and assumes comparable store sales growth of 0 to 2 percent.

For the full year, Burlington Stores projects adjusted earnings per share of $7.76 to $7.96, compared with the prior outlook of $7.66 to $7.96 per share. Analysts, on average, expect the company to earn $7.92 per share, for the year.

Annual total sales are still projected to increase in the range of 9 percent to 10 percent, which assumes comparable store sales increase of around 2 percent.

BURL was down by 6.27 percent at $273.37 in the pre-market trade on the New York Stock Exchange.