On August 28, Burlington declined 5.15% in regular trading, trading at $275.02/share, with turnover of $218 million. The stock extended its selloff from the prior session following the release of fiscal Q2 earnings.

Burlington reported Q2 adjusted EPS of $2.37, up 37.8% year-over-year and beating the consensus estimate of $2.18. Revenue came in at $3.002 billion, up 11% but slightly missing expectations of $3.02 billion. However, Q3 guidance triggered aggressive selling — management projected adjusted EPS of $1.60 to $1.70, far below the analyst consensus of $2.04, with comparable store sales growth of just 1% to 3%. Full-year guidance was raised to adjusted EPS of $11.77 to $11.97, but the midpoint still falls short of the Street estimate of $11.97.

Adding to the bearish sentiment, Bank of America Securities lowered its price target from $375 to $365 while maintaining a buy rating. The significant gap between forward guidance and market expectations continues to weigh on investor sentiment despite the strong Q2 beat.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)