NEW YORK (TheStreet) -- Shares of Burlington Stores (BURL) are falling 10.73% to $48.11 in Tuesday's early morning trading session after the company missed its own and analysts' expectations for revenue growth in the first quarter.
This morning, the national off-price retailer reported revenue of $1.19 billion, up 4.9% from revenue of $1.136 billion in the same quarter a year ago. The company was expected to report revenue growth of 8%, according to analysts polled by Thomson Reuters.
Additionally, the company missed its own sales growth expectation of 5% to 7% overall.
"We were negatively impacted by the timing of IRS tax refunds, lower markdown sales due to significantly less markdown inventory, increased store closers due to weather, and receipt flow issues in three key Easter businesses.," CEO Tom Kingsbury said.
However, it reported earnings of 41 cents per share this quarter compared to earnings of 25 cents per share in the same quarter last year. Analysts had expected the company to report earnings of 13 cents per share this quarter.
Separately, TheStreet Ratings team rates BURLINGTON STORES INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate BURLINGTON STORES INC (BURL) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The area that we feel has been the company's primary weakness has been its weak operating cash flow."
You can view the full analysis from the report here: BURL Ratings Report