Burlington Stores Shares Jump After Second Quarter Guidance Increase

Burlington Stores Inc. shares are up 4.6% in Monday trading after the company raised its second quarter guidance. The off-price retailer now expects fiscal second quarter comparable sales to increase between 4.2% and 4.5%, up from an increase of 2.5% to 3.5%. And Burlington Stores expects adjusted net income between 28 cents and 30 cents per share, up from between 20 cents per share and 23 cents per share. The company will update its full-year guidance when it announces second-quarter results, it said in a statement. Burlington Stores is expected to announced second-quarter results on September 6, according to FactSet. Burlington Stores shares are up 65% for the year so far while the S&P 500 is up 5.8% for the same period.