Burlington Stores Drops Despite Earnings Beat and Outlook Raise
Burlington Stores, Inc. (NYSE: BURL) shares fell 10% on Tuesday after third-quarter revenue came in slightly below expectations, despite the company beating profit estimates and raising its full-year earnings forecast. Adjusted EPS was 1.64 analyst estimate. Revenue totaled 2.72 billion consensus. Total sales increased 7% from a year earlier, and comparable store sales rose 1%. The company reported a 60-basis-point expansion in adjusted EBIT margin a ...