Burlington Stores 3Q adj. loss meets Street's view

Burlington Stores 3Q adjusted loss meets Wall Street's view, revenue beats analysts' estimates

Associated Press

NEWS: Burlington Stores' third-quarter loss widened due in part to the costs of its initial public offering. The losses were still smaller than Wall Street had expected and it topped most revenue projections, sending shares higher before the opening bell.

DETAILS: The discount retailer, which went public in October, said that sales at stores open at least a year climbed 3.9 percent.

NUMBERS: For the three months ended Nov. 2, Burlington Stores Inc. lost $16.9 million. That compares with a loss of $7.4 million a year earlier.

Burlington was also hurt by a lower income tax benefit and higher interest expense.

Excluding IPO-related costs and other items, the company lost 5 cents per share, in line with analyst projections, according to a poll by FactSet.

Revenue rose to $1.06 billion from $967.9 million, helped by sales at new stores and those previously opened but not included in its same-store sales results.

Wall Street was looking for revenue of $1.05 billion.

FUTURE: Burlington Stores anticipates fourth-quarter sales at stores open at least a year to be up 2 percent to 3 percent.

STOCK: The shares added 15 cents to $28.25 before the market open. Since going public, the stock is up 13 percent.

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