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BUZZ-Burlington falls after downbeat Q4 forecast

Reuters
Nov 26
BUZZ-Burlington falls after downbeat Q4 forecast

** Shares of apparel retailer Burlington stores BURL.N down 11.6% at $251.44

** Expects Q4 adjusted EPS in the range of $4.50 to $4.70, largely below estimates of $4.65- data compiled by LSEG

** Sees Q4 sales rising 7% to 9%, vs. estimates of 9.1%

** Q3 net sales $2.70 billion misses estimates of $2.75 billion

** "Traffic to our stores fell off significantly after the back-to-school period driven by unseasonably warm temperatures in our major markets"- says CEO Michael O’Sullivan

** However, co raises annual adjusted EPS forecast to the range of $9.69 to $9.89 from $9.19 to $9.59

** Including session moves, stock down 11.75% YTD

(Reporting by Koyena Das)

((Koyena.das@thomsonreuters.com))

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