Burlington Stores reported Thursday that its first quarter sales grew 5% from the year-ago period to $1.3 billion, driven mostly by an increase in new and otherwise non-comparable stores. Comparable store sales for the off-price retailer grew by 0.5%.
Burlington’s net income increased nearly 40% to $52.4 million, or 73 cents per diluted share. That beat analyst expectations of 70 cents per share, according to MarketWatch data. Executives credited the increase to sales growth, better margins and share repurchases since last year.
