Burlington Stores Shares Rally 8% As Company Expects Flat Sales

Burlington Stores Inc. shares rose more than 8% in late trading Monday after the off-price retailer said it expects flat comparable-store sales in the fourth quarter, and forecast its net sales to increase by 3.7% in the quarter, at the lower end of its previous guidance of an increase between 3.7% and 4.7% in net sales. Burlington had expected comparable-store sales to be flat to up 1% previously. The company expects a fourth-quarter adjusted net income between $1.44 a share and $1.46 a share, compared with prior expectations of $1.44 a share to $1.48 a share. Increases in sales of gift items such as perfumes, bath and body items, and home goods have been offset by "headwinds" affecting cold-weather items such as coats and outerwear, Burlington said. Shares of Burlington ended Monday up 2.8%.