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Burlington Stores fiscal Q2 loss narrows YOY

Burlington Stores Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 amounted to a loss of 8 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 8 cents per share.

The per-share loss grew 80.3% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.6 million, compared with a loss of $22.1 million in the year-earlier period.

The normalized profit margin increased to negative 0.5% from negative 2.3% in the year-earlier period.

Total revenue increased 8.3% on an annual basis to $1.04 billion from $963.7 million, and total operating expenses increased 6.3% year over year to $1.03 billion from $967.8 million.

Reported net income totaled a loss of $6.7 million, or a loss of 9 cents per share, compared to a loss of $25.0 million, or a loss of 5 cents per share, in the year-earlier period.