Burlington Sees Mixed Recovery In Q2

Although it posted a loss, the second quarter wasn’t all bad for Burlington Stores, which beat a Wall Street earnings estimate and managed to drive sales in stores as they reopened, although inventory issues did emerge.

Burlington Swings To Net Loss In Q1

Off-price retailer Burlington Stores was impacted by the coronavirus pandemic in the first quarter as the company posted a big net loss. Still, the retailer asserted that it was in a strong financial position as it continues to reopen its stores.

Big Lots Appoints Two New Independent Directors

Big Lots has formed an agreement with Macellum Advisors and Ancora Advisors, who beneficially own approximately 9.8% of the company’s outstanding common shares, to appoint Andrew Clarke and Aaron Goldstein to the company’s board of directors, effective immediately.

Burlington Stores Furloughs Workers

Given the uncertain duration of store and distribution center closings, Burlington Stores has temporarily furloughed most store and distribution center associates. The company will continue to provide benefits to furloughed associates, including paying their current health benefit premiums.

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