Burlington Stores Boosts Profit Outlook as Sales Exceed Expectations
Burlington Stores(BURL) Investopedia·2024-08-30 06:25
Key Takeaways Burlington Stores posted better-than-expected results and boosted its outlook on strong sales and improved supply chains, but warned about ocean freight costs. Profit more than doubled from the year ago period, as revenue jumped 13%. CEO Michael O'Sullivan noted even with some cost pressure from ocean freight, the retailer was increasing its profit forecasts. Burlington Stores (BURL) Thursday posted a higher-than-estimated doubling of its profits and raised its outlook for the year, although i ...