Burlington Stores stock soars after earnings beat expectations, margins improve and November off to ‘solid’ start

Shares of Burlington Stores Inc. BURL leapt 9.9% toward a two-month high in premarket trading Tuesday, after the discount apparel and footwear retailer topped profit and same-store sales expectations, and said the current quarter was off to a “solid” start. Net income for the quarter to Oct. 28 nearly tripled to $48.6 million, or 75 cents a share, from $16.8 million, or 26 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 98 cents topped the FactSet consensus of 97 cents. Total revenue grew 12.2% go $2.29 billion, matching the FactSet consensus, while same-store sales…