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Burlington Stock Pulls Back as Growth Accelerates

TheMotleyFool

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Burlington Stock Pulls Back as Growth Accelerates

Like many retail stocks, shares of Burlington Stores (NYSE: BURL) plunged when the pandemic struck last year. Fortunately, in-store sales recovered rapidly as 2020 progressed, helping Burlington stock to regain all the ground it had lost by year-end. Moreover, sales have surged well beyond pre-pandemic levels in 2021.

This strong recovery caused Burlington stock to rocket to a new all-time high above $350 this summer. However, the shares dropped 9% after the company's earnings report last month. While second-quarter revenue and earnings smashed expectations, management offered a cautious outlook for the rest of the year. Burlington stock has continued to retreat in recent weeks.