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A Poultry Turnout or a Bigger Slice of the Pie?
We are all susceptible to media hype, and to established narratives, so it’s easy to miss important details in the growing chaos and chatter that surrounds Black Friday each year. We see big crowds and big bargains and a holiday shopping event that used to be a day now morphing into a brick-and-mortar and online extravaganza that lasts more than a week. That said, we should be asking what is really going on behind the scenes — and behind the numbers — and what does that mean for retailers for the rest of the holiday shopping season?
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New stores fuel Burlington’s third-quarter results
Burlington Stores credited performance at new stores for driving net sales during the third quarter.
The company’s net sales increased 10% to $1.06 billion, from $967.9 million. The increased was fueled primarily by a $53.2 million increase in sales related to new stores and stores previously opened that are not included in same-store sales, as well as a 3.9% increase in same-store sales.
The company also shrank its net loss to $7.4 million from $16.8 million during the quarter, compared to the prior-year quarter.
