Burlington Stores (BURL) Tops Q2 EPS by 12c; Guides Lower
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Burlington Stores (BURL) Declines After it Misses Revenue Expectations, Lowers Guidance
August 25, 2022 3:45 PM EDTBurlington Stores (NYSE: BURL) tumbled Thursday, currently down more than 10% after it reported earnings for its latest quarter, missing revenue expectations and lowering guidance.
While the retailer posted second-quarter earnings per share of $0.35, $0.12 better than the analyst estimate of $0.23, revenue for the quarter came in at $1.99 billion, missing the consensus estimate of $2.03 billion.
Total sales decreased 10%, while comparable store sales decreased 17% compared to the second quarter of fiscal 2021. The company put the comparable sales fall down to surging inflation and inventory... More
Wells Fargo Reiterates Overweight Rating on Burlington Stores (BURL) Following EPS
August 25, 2022 11:26 AM EDTWells Fargo analyst Ike Boruchow reiterated an Overweight rating and $200.00 price target on Burlington Stores (NYSE: BURL) following earnings.
The analyst commented, "BURL's 2Q results were expected to be slightly weak, and they were (missed comp plan due to low-end pressure and ramping... More
