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Burlington Stores lifts FY'19 outlook after Q2 EPS beats estimates

Shares of Burlington Stores Inc. rose more than 10% in premarket trading Aug. 29 after the company reported strong sales growth in the second quarter and lifted its full year sales and earnings outlook for fiscal 2019.

The apparel retailer reported adjusted diluted EPS of $1.36 for the three months ended Aug. 3, up from $1.15 in the year-ago period and ahead of the S&P Global Market Intelligence consensus normalized EPS estimate of $1.14.

Total sales rose 10.5% year over year to $1.66 billion from $1.50 billion in 2018, while comparable store sales increased 3.8%.

Adjusted net income for the second quarter jumped 16% year over year to $91.4 million from $78.9 million in the year-ago period.

The department store chain now expects adjusted EPS for the fiscal year to be in the range of $7.14 to $7.22, up from a previous outlook of $6.93 to $7.01. The company expects total sales for the year to improve by 8.8% to 9.3%, also higher than its previous expectation of 8.5% to 9.2%.

For the third quarter, Burlington expects adjusted EPS to be in the range of $1.37 to $1.41, compared to $1.21 in the same period last year. It forecasts an 8.5% to 9.5% increase in total sales.

Burlington Stores shares rose 10.2%, or $17.65, to $190.92 in premarket trading in New York.