MW Burlington's stock falls as warm weather hurts its coat sales
Burlington Stores Inc.'s stock $(BURL)$ was down 4.8% in premarket trading on Tuesday after the clothing retailer said warm weather hurt its coat sales and it said it will fall short Wall Street analyst estimates for the coming quarter. Burlington Stores said its third-quarter net income rose to $90.6 million, or $1.40 a share, from $48.6 million, or 75 cents a share, in the year-ago quarter. Adjusted third-quarter earnings of $1.55 a share matched the FactSet consensus estimate. Revenue for the three months ended Nov. 2 rose to $2.53 billion from $2.29 billion but fell slightly short of the analyst estimate of $2.55 billion. For the fourth quarter, Burlington Stores said it expects to generate adjusted earnings of $3.55 a share to $3.75 a share, below the analyst estimate of $3.78 a share.
-Steve Gelsi
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November 26, 2024 06:57 ET (11:57 GMT)
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