Burlington Stores Inc (NYSE:BURL) reported fourth quarter earnings and sales that topped market expectations, sending shares higher in US pre-market trade.
The discount apparel retailer said net income for the quarter to February 3, rose to US$240mln, or US$3.47 a share, from US$125.6mln, or US$1.77 per share, the same period a year ago.
READ: Burlington Stores sees third quarter sales slightly miss expectations, fourth quarter outlook disappoints
Excluding items, including the benefit of the US tax reform, adjusted earnings per share came to US$2.17, above the consensus forecast of US$2.1.
Same-store sales rose 5.6%, exceeding analysts’ estimates for a 3.1% increase.
However, total revenue missed forecasts of US$2.10bn, rising to US$1.94bn from US$1.69bn the previous year.
Burlington said it expects first quarter adjusted earnings per share of US1.05 to US$1.09 and sales growth of 9.5% to 10.5%.
That compares to analysts’ expectations for adjusted EPS of 99 US cents and sales growth of 8.5%.
Shares rose 9.4% to US$127 each before the US market opened.