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Burlington is set to open about 50 stores this year, building upon first-quarter sales growth of 7.4 percent.
The company, which announced these expansion plans in its first-quarter report, offered no specifics as to the locations of those openings.
Comparable sales edged up by just 0.1 percent during the quarter, but the company says it anticipates a total sales increase of anywhere between 8.5 and 9.2 percent for fiscal 2019, with comp-store sales increases somewhere between 1 and 2 percent.
“While our first-quarter sales results came in at the low end of our expectations, our disciplined expense management enabled us to exceed the high end of our recently updated adjusted earnings per share guidance,” said CEO Tom Kingsbury. "Although we saw strength in our children’s apparel, Baby Depot and home businesses, we remain very focused on improving our underperforming ladies'-apparel business.”
By Edmund Mander
Director, Editor-In-Chief/SCT
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