BURL - Burlington's Looking to Make Products Even Cheaper. But Should Investors Buy the Stock?
2024-02-03 06:30:00 ET
Burlington Stores (NYSE: BURL) shares rallied at the end of 2023, but they remain roughly 40% below their 2021 highwater mark. The off-price retailer has big growth plans ahead of it and is benefiting today from financially concerned customers trading down to its stores. But longer term, it's still focusing hard on selling more off-price goods to more customers.
Here's what you need to know.
Like peers Ross Stores and TJX Companies , Burlington sells low-cost items to a core base of customers looking for deals. More recently, however, the mix of customers for this retailer has shifted somewhat. That's because wealthier consumers worried about the economy have started to cut back on their spending. Going to a Burlington store is one of the ways they're doing that.
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Burlington's Looking to Make Products Even Cheaper. But Should Investors Buy the Stock?