Burlington Raises Fourth Quarter Guidance

Off-pricer Burlington Stores has raised its sales and earnings per share guidance for its fourth quarter and fiscal year ended February 1, 2020.

For the fourth quarter of fiscal 2019, adjusted earnings per share is expected to be in the range of $3.21 to $3.23. This compares to adjusted EPS for the prior year period of $2.83, and previous guidance of $3.12 to $3.17.

These estimates are based on an expected total sales increase of 10.5%, which includes an expected comparable store sales increase of 3.9%.

For the full year fiscal 2019, adjusted EPS is expected to be in the range of $7.37 to $7.39. This compares to adjusted EPS for the prior year period of $6.44, and previous guidance of $7.28 to $7.33. These estimates are based on an expected total sales increase of 9.3%, which includes an expected comparable store sales increase of 2.7%. The company will review its operating performance in detail when it announces fourth quarter and full year fiscal 2019 results.

The company noted that its sales and profit expectations are estimated and subject to completion of the quarter and year-end closing adjustments.