Why Shares of Burlington Stores Are Up Today
Shares of Burlington Stores (NYSE: BURL) climbed nearly 10% on Tuesday following the company's third-quarter earnings release. The retailer beat earnings estimates and raised full-year guidance, an indication that the momentum that has fueled the shares' impressive jump over the past three years is not fading.
Before markets opened on Tuesday, Burlington reported adjusted third-quarter earnings of $1.55 per share, beating the $1.40 per share consensus, despite revenue that at $1.775 billion came in just shy of analyst expectations. Sales were up 8.6% year over year, and comparable-store sales increased by 2.7% in the quarter.
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Source Fool.com
