Burlington Stores performance beats expectations

BURLINGTON – Burlington Stores said Tuesday that its fiscal second-quarter loss narrowed as sales improved and its income tax expense declined.

Its performance beat analysts’ estimates, and the discount retailer raised its fiscal 2014 guidance.

The company lost $6.5 million for the three months ended Aug. 2. That compares with a loss of $25 million a year earlier.

Analysts, on average, expected a loss of 8 cents per share, according to a FactSet survey.

Revenue increased to $1.05 billion from $971.5 million, beating Wall Street’s estimate of $1.03 billion.

Sales at stores open at least a year, a key gauge of a retailer’s health, rose 4.7 percent. This figure excludes results from stores recently opened or closed.