
Burlington Stores reported third-quarter earnings with net income of $91 million and diluted earnings per share (EPS) of $1.40. Total sales increased 11% year-over-year to $2.526 billion, while comparable store sales rose 1%. However, warmer temperatures in mid-September slowed sales momentum, according to the company's CEO, who noted, "Our third quarter comp trend started out very strongly, but then warmer temperatures from mid-September onwards slowed our sales momentum." Visits to Burlington stores grew 6.4% year-over-year during the quarter. For the fourth quarter, Burlington expects comparable store sales to be flat to up 2%, with total sales projected to grow 5% to 7%. The company is maintaining guidance for EBIT margin and earnings per share. Despite this guidance, Burlington's stock fell after its fourth-quarter comparable sales forecast was seen as underwhelming.
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