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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

11/28/18

Cold weather is good news for Burlington Stores (BURL). Burlington is up 10% today and up over 30% year to date following earnings. The discount chain coat store easily beat expectations as sales rose 13% to $1.640 billion. Comparable store sales increased 4.4% for the quarter. Margins expanded by about 20 basis points, offsetting a negative 20 basis point impact from higher freight costs. The company said it is now raising its full-year adjusted EPS forecast to a range of $6.33 to $6.37 a share, above estimates. At least somebody likes the cold weather.

Chico's FAS (CHS) has seen better days. The women's apparel and accessories retailer is down 37% today and down over 50% from the yearly highs following disappointing earnings and lowered guidance. Comparable sales fell 6.8 percent compared to the year-ago period, while analysts surveyed by Consensus Metrix had projected only a 2.1 percent decline. The namesake Chico's stores declined even steeper at 10.2 percent. The stock was on track for the lowest close since March 2009, and the biggest one-day decline since it went public in March 1993. Tough time to be a retailer.

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