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Burlington Stores (BURL) - Get Burlington Stores Inc. Report posted fourth-quarter adjusted earnings of $2.83 a share, beating Wall Street forecasts of $2.77, but same-store sales came in below estimates.

Shares of the off-price retailer declined 9.4% on Thursday to $151.51.

The company said sales in the quarter were nearly $2 billion, below forecasts of $2.06 billion, while same-store sales in the period increased 1.3% but missed Wall Street's forecast of 3.2%. 

"Despite our fourth-quarter sales performance coming in below our expectations, we nevertheless exceeded our Adjusted EPS guidance through disciplined expense management," said CEO Tom Kingsbury in a statement. "It is important to note that the fourth quarter represented our most difficult fiscal 2018 one- and two-year quarterly comparable store sales comparisons.

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"While we are disappointed with how the year ended from a sales perspective, we did have a solid fiscal 2018 on both the top and bottom line. We remain confident in our business model and long-term prospects for growth, and still expect fiscal 2019 adjusted EPS to increase low double digits on a comparable basis vs. fiscal 2018," Kingsbury said.

Burlington said it sees adjusted earnings in 2019 of $6.93 to $7.06 a share vs. analysts' estimates of $7.06.

The company said it expects net sales in 2019 to rise 9% to 10%, with same-store sales up 2% to 3%. Analysts surveyed by FactSet were calling for sales at stores open at least a year to rise 2.8%.