Friday, May 26, 2017

Burlington Stores sales up 5% as off-price retail continues rout

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%. 

For the year, Burlington’s management team expects total sales to grow by between 7.3% and 8.1% and comparable store sales to increase between 2% and 3%. The company also expects to open a total of 30 stores and spend $200 million in capital expenditures. . . . more

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