Burlington Stores Q3 Guidance Misses, Shares Slide 5%
BURL sits 23% above its 52-week low of $240.49 on elevated volume (3.1× avg).
Summary
Burlington Stores reported Q2 EPS of $2.96, beating consensus of $2.19, but revenue of $3.0B missed the $3.03B estimate and comparable sales rose only 2%. The company guided Q3 EPS to $1.60-$1.70, below consensus, and full-year EPS to $11.77-$11.97, with the midpoint below the $11.97 consensus. Shares fell more than 5% on the news. This follows the earlier Dow Jones report on the full-year guidance, but adds the Q3 miss and the market's negative reaction. The company's 15th consecutive quarter of double-digit EPS growth and strong two-year comparable sales were not enough to offset investor disappointment over the guidance and the decision to reinvest tariff refunds into price cuts.
At the time of this announcement, BURL was trading at $294.67 on NYSE in the Trade & Services sector, with a market capitalization of approximately $18.5B. The 52-week trading range was $240.49 to $378.33. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.