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US off-price retailers rapidly outpacing department stores

Buoyancy at Burlington

Burlington’s latest year underlines the model. In its financial year to February *, ****, net sales rose nine per cent to $**.* billion and net income jumped to $***.* million, from $***.* million in fiscal ****. Management attributed the step-up to higher merchandise margins and improved freight costs, a benefit many off-price operators banked as shipping markets normalised.