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Burlington Stores fiscal Q1 profit climbs YOY

Burlington Stores Inc. said its normalized net income for the fiscal first quarter ended May 3 was $14.8 million, a gain from $1.2 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 1.3% from 0.1% in the year-earlier period.

Total revenue increased 5.9% on an annual basis to $1.13 billion from $1.07 billion, and total operating expenses increased year over year to $1.08 billion from $1.03 billion.

Reported net income totaled $12.1 million, or 16 cents per share, compared to a loss of $5.6 million, or a loss of 1 cents per share, in the year-earlier period.