Why Burlington Stores Stock Jumped This Morning
Shares of discount retailer Burlington Stores (NYSE: BURL) soared on Thursday. Following the release of strong fourth-quarter results, the stock opened 13.4% higher and backed down to an 11.5% overnight gain by 11 a.m. ET.Burlington's fourth-quarter sales rose 4.8% year over year, in line with the consensus analyst target of $3.28 billion. That's a robust increase, since the year-ago period was 14 weeks long, but this quarter only reflected 13 weeks of business results.Further down the income statement, adjusted earnings rose 12% to $4.13 per diluted share. Here, your average analyst firm would have settled for $3.77.Continue reading
Shares of discount retailer Burlington Stores (NYSE: BURL) soared on Thursday. Following the release of strong fourth-quarter results, the stock opened 13.4% higher and backed down to an 11.5% overnight gain by 11 a.m. ET.
Burlington's fourth-quarter sales rose 4.8% year over year, in line with the consensus analyst target of $3.28 billion. That's a robust increase, since the year-ago period was 14 weeks long, but this quarter only reflected 13 weeks of business results.
Further down the income statement, adjusted earnings rose 12% to $4.13 per diluted share. Here, your average analyst firm would have settled for $3.77.
