Burlington Stores Inc (BURL) Stock Spikes on Stellar Q1 Results

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Burlington Stores Inc (BURL) stock increased on Thursday after its Q1 earnings report.

Burlington Coat Factory, BURL stockBurlington Coat Factory reported revenue of $1.28 billion for the first quarter of the year. This is up from the $1.19 billion reported during Q1 of 2015. It also was just above the $1.27 billion that analysts were expecting.

Burlington Coat Factory’s earnings per share for Q1 2016 came in at 52 cents. It reported EPS of 41 cents for the first quarter of 2015. Wall Street was expecting the company to report EPS of 48 cents for the quarter.

Burlington Coat Factory said that it expects its net sales to be up between 6.3% to 7.3% for its second quarter of the year. It’s also expecting comparable store sales to increase by 2.5% to 3.5% for its next quarter.

BURL shares were up 7% as of Noon Thursday.

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