By Kuldip K. Ambastha
The stock price of Burlington Stores, Inc. (BURL), an American off-price (discount) department store retailer once known as Burlington Coat Factory, fell by -10.2% per share on the trading day of Thursday, August 25, 2022. 2Q2022 corporate performance results were quite satisfactory, in general. However, 3Q2022 and 2022 corporate performance guidance disappointed Wall Street. Burlington Stores leaders mentioned lower earnings per share (EPS) expectations for 3Q2022 and fiscal year 2022, compared with the Wall Street consensus estimates in place prior to this new information being disclosed. An inventory overhang plus a weakened consumer buying capacity are key concerns for Burlington.
Keywords – Burlington Stores, Inc., Burlington Stores, Burlington, Burlington Coat Factory, BURL, off-price, discount, department store, retailer, retail, 2Q2022, 2022, fiscal year, performance, earnings per share, EPS, Wall Street, consensus estimates, inventory overhang, consumer, American, USA.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in BURL.
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