ROST - Burlington Stock Drops 9% After Earnings: Is It a Buying Opportunity?
U.S. retail spending has surged this year, with brick-and-mortar chains driving the bulk of the industry's growth. Off-price retailers have been some of the biggest winners.
On Thursday, Burlington Stores (NYSE: BURL) joined its two larger rivals -- TJX Companies and Ross Stores (NASDAQ: ROST) -- by reporting stellar second-quarter sales and a big earnings beat. Nevertheless, Burlington stock plunged 9% following the earnings release. While the retailer does face near-term margin headwinds, this pullback could be a good buying opportunity for long-term investors.
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Burlington Stock Drops 9% After Earnings: Is It a Buying Opportunity?