Burlington Stores Expects Same-Store Gain for Q2
BURLINGTON, N.J.-Burlington Stores said it is projecting a same-store sales increase of from 3-4 percent for its fiscal second quarter, which will end on Aug. 2.
The retailer gave its forecast in a statement which also announced that it is launching a debt refinancing transaction, in which it will seek commitments from lenders under a new senior secured credit facility for a principal amount of $1.2 billion. Burlington is also renewing its current asset-backed lending facility for an additional five years, the statement said.
The company's new projection for second-quarter same-store sales growth is ahead of its previous guidance for an increase of from 2-3 percent. Last year, Burlington Stores' same-store sales rose 7.8 percent in its second quarter.