Burlington Pulls The Plug On E-Commerce; Can Any Retailer Afford To Do That? [Forbes]
Burlington Stores, Inc. (BURL)
Last burlington stores, inc. earnings: 3/5 06:45 am
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Source: Forbes
Can any business afford to walk away from a million dollars in business? And the potential for much more? That’s what Burlington Stores, the off-price retailer, is doing with its announcement this week that it will end its e-commerce business. It represented just 0.5% of its overall $2.2 billion in annual revenue, so it is not a huge portion of its sales, to be sure. And within the off-price channel, e-commerce has been largely an afterthought. The biggest player in the business, TJX, only recently rolled out online sales, and the No. 2 in the field, Ross Dress for Less, still doesn’t sell online. So for Burlington, at least, e-commerce is at best a rounding error and, as it said in making the announcement, is a business inconsistent with its “treasure-hunt” shopping model. Burlington has also been riding a hot streak recently, with strong sales growth that has been richly rewarded by Wall Street, where its stock had nearly doubled over the past year before the recent massive sell-off
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News
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BURL
Earnings
- 11/26/24 - Beat
BURL
Sec Filings
- 12/4/24 - Form 4
- 12/2/24 - Form 144
- 11/26/24 - Form 10-Q
- BURL's page on the SEC website