NEW YORK (TheStreet) -- Burlington Stores (BURL) rose nearly 14% as of 11:40 a.m. on Thursday after the apparel retailer reported fourth-quarter results that beat analysts' expectations.
Burlington posted profit $63.6 million, a 6.4% year-over-year decrease from $67.9 million. Excluding items, earnings per share decreased to $1.07 from $1.15. Revenue climbed 1.3% year over year to $1.34 billion, and comparable-store sales grew 4%. Analysts polled by Thomson Reuters expected a profit of $1.03 on revenue of $1.34 billion.
For the fiscal year 2014, Burlington expects adjusted earnings of $1.25 to $1.35 a share on revenue growth of 5.8% to 6.8%. Analysts estimated $1.38 a share on 7% revenue growth. For the first quarter, the company anticipates adjusted earnings of 19 cents to 23 cents a share, the high end of which aligned with the consensus estimate of 23 cents a share. Burlington expects comparable-store sales to increase 2% to 3%.
Burlington also announced its plan to open 25 net new stores this year, two in the current quarter and most in the fall. The company opened 21 net new stores in the fiscal year 2013 and finished the year with 521 stores.Must Read: Warren Buffett's 10 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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