Burlington Stores' (BURL) second quarter results looked ugly, maybe more so than most analysts and investors had been expecting. However, a word of encouragement regarding the third quarter, one that had been lacking in the current off-price retail earnings season, was probably enough to send shares higher on Thursday, August 27.
Revenue decline of nearly 40% YOY was much worse than consensus of something closer to a 30% decrease. However, margins looked much better than analysts' projections, which led to adjusted per-share loss beating the average estimate by a sizable 50 cents.
Credit: Multichannel Merchant