BURL - Burlington Is Starting a New Growth Phase: Should Investors Buy Sell or Hold?
2024-01-21 05:15:00 ET
Burlington (NYSE: BURL) posted strong financial results in the third quarter of 2023. That was nice enough, but it wasn't the most important story to come out of the company's earnings conference call. The big story was that the off-price retailer updated its long-term growth model. It was some update!
Before getting to Burlington's updated long-term guidance, it's important to highlight the business strength the retailer is experiencing today. Here are a few highlights. Same-store sales rose 6% year over year, which was right in the middle of the company's target range of 5% to 7%. Adjusted earnings per share tallied up to $0.98, which was, again, well within the guidance range of $0.86 to $1.01.
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Burlington Is Starting a New Growth Phase: Should Investors Buy, Sell, or Hold?