©Reuters
Investing.com — Burlington Stores (NYSE:)'s fourth-quarter profit beat the average analyst estimate, but the off-price department store chain is showing some caution about the near-term operating environment.
Adjusted earnings per share (EPS) for the three months ended Feb. 3 rose to $3.66, up from $2.96 a year earlier and beating the Bloomberg consensus estimate of $3.30.
Sales rose 14% year over year to $3.13 billion, also exceeding expectations of $3.06 billion.
New Jersey-based Burlington Stores, which expects adjusted EPS of $7.00 to $7.60 for fiscal 2024, is currently owned by bankrupt retailer Bed Bath & Beyond (OTC). It added that the forecast does not include an expected expense of $0.11 from the company's recent acquisition of a former store. :).
CEO Michael O'Sullivan cautioned in a statement that Burlington is being cautious about short-term transactions, adding there is “a lot of uncertainty in the external environment.”
”[W]We plan our business flexibly and are ready to chase sales trends if they become stronger,” Mr O'Sullivan said.
Analysts at BMO Capital Markets called Burlington's results “strong” and said its full-year earnings per share outlook was “significantly above” the high end of Wall Street expectations.
Shares rose in pre-market trading in the U.S. on Thursday.
