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Shares of Burlington Stores Inc. took a dive Tuesday, as the off-price retailer failed to follow in its peers’ footsteps by reporting fiscal third-quarter sales that missed expectations.
Comparable-store sales, or sales of stores open at least a year, rose from a year ago, but by a much slower pace than what Wall Street projected. The company
BURL said the problem was that after the back-to-school season, foot traffic to its stores ”fell off significantly” because of unseasonably warm weather in its major markets. Keep in mind that it was only about a dozen years ago that the company’s retail-store brand name changed.