This story has been updated from 10:58 am EST with additional information and analyst comments, stock price update.
NEW YORK (TheStreet) -- Shares of Burlington Stores (BURL) rose 3.1% to $37.18 after the discount retailer posted better-than-expected fiscal second quarter results and raised its outlook with adjusted earnings of $1.52 to $1.58 per share for the fiscal year, compared with its previous $1.25 to $1.35 per share.
The company also raised its sales growth outlook for the full year to a range of 6.5% to 7.2%, from its previous 5.8% to 6.8%.
For its fiscal second quarter, Burlington Stores posted an adjusted net loss of one cent per share, or a loss of $6.5 million, compared with a loss of 19 cents per share, or a loss of $25 million in the same quarter of last year. Revenue rose 8.2% to $1.05 billion for the quarter. Comparable sales growth of 4.7% beat analysts' expectations of a 3.7% rise, according to Consensus Metrix.
BURL data by YCharts
Here's what analysts are saying about Burlington Stores.
Paul Lejuez, Wells Fargo Securities (Outperform; $38-$42 valuation range)
Q2 was a strong quarter all around, with comps better than the company had previously announced (+4.7% vs. recent guidance of +3-4% and original guidance of +2-3%) and 50bps of GM expansion. In an environment that remains difficult, BURL is demonstrating that it can execute and drive top- and bottom-line results. And unlike its off-price competition, BURL has easy comparisons. We believe BURL's initiatives are beginning to drive better productivity, they are outcomping their competitors and the company has continued opportunity to improve both the top-line and margins longer term.