Burlington Stores falls after downbeat Q3 results

Burlington Stores

26/11/2024 15:52

** Shares of off-price retailer Burlington Stores  BURL.N 
fall as much as 4% to $280 
    ** Co posts Q3 revenue of $2.53 bln, below analysts'
estimates of $2.55 bln, as warmer temperatures in mid-September
hurt sales in cold-weather categories
    ** Reports adjusted EPS of $1.55, in line with estimates -
data compiled by LSEG
    ** Also sees Q4 adjusted EPS in the range of $3.55 to $3.75,
below estimates of $3.77
    ** Expects total sales to increase in the range of 5% to 7%,
generally above consensus of a 5% growth    
    ** Brokerage Telsey Advisory Group says BURL's Q3 report is
a bit of a mixed bag; sees the underlying trends remaining
solid, and the fourth quarter guidance as potentially
conservative
    ** Up to Monday's close, stock had risen 50% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))