A national building materials retailer has leased 21,000 square feet in a Triad shopping center. Barton's Home Improvement is moving into the space between Food Lion and Burlington at University Plaza, 7760 N.
While solidifying its financial position, it has also furloughed store employees and taken several cost cutting measures.
Burlington Stores (BURL) saw a big move last session, as its shares jumped nearly 7% on the day, amid huge volumes.
Post coronavirus it's all about location. Location, Location.
What happened The stock of Burlington Stores (NYSE: BURL) outperformed a strong market last month by rising 15% compared to a 13% increase in the S&P 500, according to data provided by S&P Global Market Intelligence.
Chains' recovery will eventually come; in the meantime, check out the full-price sale.
The company plans to issue $300 million of senior secured notes as well as $700 million of convertible notes at its parent, Burlington Stores, Inc. The used of net proceeds will be for general corporate purposes. "Although Burlington remains well positioned within the healthy off-price segment, the company remains at risk from protracted store closures as it does not operate online" Boni added.
Burlington Stores, Inc. (BURL), a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, will release its first quarter fiscal year 2020 results before the U.S. stock market opens on Thursday, May 28, 2020. The Company will also hold a conference call to discuss results at 8:30 a.m. (Eastern Time) that day. A live webcast of the conference call will also be available on the investor relations page of the company's website at www.burlingtoninvestors.com.
Burlington Stores, Inc. (BURL) (the “Company”) announced today that it has priced its private offering of $700 million aggregate principal amount of 2.25% convertible senior notes due 2025 (the “Notes”). The Company also granted the initial purchasers of the Notes an option to purchase up to an additional $105 million aggregate principal amount of the Notes. The Company intends to use the net proceeds from the offering of the Notes for general corporate purposes.
The coronavirus pandemic's impact is likely to show on Burlington Stores' (BURL) first-quarter fiscal 2020 results.
The U.S. death toll from COVID-19 rose above 22,000 on Monday, as President Donald Trump railed against the nation’s top infectious disease expert for suggesting more lives could have been saved if restrictions on movement had been imposed earlier.
This week is a shortened trading week with major markets closed Monday in observance of the Memorial Day holiday. Investor focus will remain on the coronavirus and its impact on the U.S. economy as most states across the country continued their phased reopening plans.
Burlington Stores, Inc. (BURL) (the “Company”) announced today that its indirect wholly owned subsidiary, Burlington Coat Factory Warehouse Corporation (the “Corporation”), has priced its private offering of $300 million aggregate principal amount of 6.250% senior secured notes due 2025 (the “Notes”). The Notes will be guaranteed by the same parent entities and subsidiaries of the Corporation that guarantee, and will be secured by the same collateral as, the Corporation’s senior secured term loan facility. The offering is expected to close on April 16, 2020, subject to market and other conditions.
Burlington Stores (BURL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The retailer said it suspended rent payments totaling $115 million a month, and might not have enough cash to support its operations. S&P Global Ratings lowered the company’s credit rating.
Burlington Stores, Inc. (BURL), a nationally recognized off-price retailer of high-quality, branded apparel, footwear, accessories, and merchandise for the home, announced today that its 2020 Annual Meeting of Stockholders will change to a virtual-only format, to help protect the health and safety of associates, stockholders and the communities it serves in light of the public health impact of the COVID-19 pandemic. Burlington’s Annual Stockholders Meeting will take place at 8 a.m. Eastern Time on May 20, 2020, the same date and time as originally scheduled. There is no change to the items of business to be addressed at the meeting, which are described in the company’s proxy materials as previously distributed.
Burlington Stores (BURL) undertakes actions to stay financially strong during the tough times.
A Relative Strength Rating upgrade for Burlington Stores shows improving technical performance. Will it continue?
Off-price retail, which had been an analyst and consumer favorite before the coronavirus pandemic, is now facing near-term headwinds, Wells Fargo says. The off-price category includes T.J. Maxx parent TJX Cos. , Ross Stores Inc. and Burlington Stores Inc. , which announced right before the nationwide stay-at-home orders that it would shut down its e-commerce site. "[I]nvestor conversations have turned much more cautious, as bears have begun to think more about the near-term issues and how challenging the next three-to-six months could be for off-price (lack of e-commerce, stores that rely on heavy traffic)," analysts led by Ike Boruchow wrote. Still, the category has benefits, including the "massive inventory dislocations" that the past months of apparel shopping decline will create. Retail sales fell 16.4% in April with sales plunging 79% at clothing stores. "While we remain very favorable on all three names into 2021, we highlight Burlington as the best way to play the space - best positioned from an inventory/liquidity standpoint, while their larger stores and less 'peak' traffic dynamics should make it easier to mitigate near-term comp challenges," Wells Fargo wrote. Wells Fargo rates all three companies overweight/buy with a $225 price target for Burlington, $110 price target for Ross Stores and $65 price target for T.J. Maxx. Burlington stock is up nearly 6% in Monday trading and up 7.5% over the past year. Ross shares have rallied 5.5% on Monday and are down 7.4% for the last 12 months. And TJX stock has gained 5% on Monday and is down 6.5% for the past year. The S&P 500 index is up 3.5% for the past 12 months.
COST vs. BURL: Which Stock Is the Better Value Option?