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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.
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Shopping with a social conscience
Retailers and manufacturers targeting Gen X and Y shoppers this holiday season should introduce more transparency into their product labels and identify fair trade, conflict-free and environmentally friendly practices.
Results of a new survey by KPMG LLP reveal that nearly 70% of consumers younger than age 30 consider social issues such as sustainability, human rights and fair trade before making a purchase. This outpaces the fewer than 50% of consumers overall who feel the same way.