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Burlington Stores profit beats consensus by 31.1% in fiscal Q2

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Burlington Stores profit beats consensus by 31.1% in fiscal Q2

Burlington Stores Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 was 15 cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

The per-share result swung to a profit from the prior-year loss of 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $11.7 million, compared with a loss of $5.6 million in the prior-year period.

The normalized profit margin climbed to 1.0% from negative 0.5% in the year-earlier period.

Total revenue rose 9.6% on an annual basis to $1.14 billion from $1.04 billion, and total operating expenses grew 8.1% from the prior-year period to $1.11 billion from $1.03 billion.

Reported net income totaled $10.7 million, or 14 cents per share, compared to a loss of $6.7 million, or a loss of 9 cents per share, in the prior-year period.