Nvidia’s results, Tesla’s European sales, Japan trade - what’s moving markets
NEW JERSEY - Burlington Stores, Inc. (NYSE:BURL), the off-price retailer with a market capitalization of $17.1 billion and a robust financial health score of "FAIR" according to InvestingPro, announced Thursday that Michael Skirvin will join its Board of Directors and Audit Committee effective November 18, 2025.
Skirvin brings over 30 years of experience in the off-price retail sector, having served as Chief Executive Officer of Bob’s Discount Furniture from 2016 until his retirement in 2020. Prior to that role, he was Bob’s President and Chief Operating Officer from 2011 to 2016.
His background also includes more than two decades at The TJX Companies, where he held various leadership positions including Senior Vice President, Corporate Controller; Senior Vice President, Real Estate and New Business Development; and Chief Operating Officer of the A.J. Wright division.
"Michael has a proven track record as a highly accomplished leader, and we are pleased to welcome him to our Board," said John Mahoney, Chairman of the Board, in a press release statement.
Burlington’s Chief Executive Officer Michael O’Sullivan noted that Skirvin’s knowledge and expertise would be valuable as the company continues to execute its Burlington 2.0 strategy.
Burlington Stores operates 1,115 stores across 46 states, Washington D.C., and Puerto Rico as of the first quarter of fiscal 2025. The Fortune 500 company reported net sales of $10.6 billion for fiscal 2024.
The retailer offers branded merchandise at discounted prices, including apparel, footwear, home goods, and accessories.
In other recent news, Burlington Stores has been the subject of several analyst updates and performance reviews. UBS has maintained its Buy rating and a price target of $390 on Burlington, citing the company’s strong strategic initiatives and potential for market share gains. UBS analysts highlighted Burlington’s "Burlington 2.0" strategy, which has been effective in providing significant margin benefits. They also noted the company’s consistency in its adjusted earnings per share (EPS) guidance for fiscal year 2025, with expectations that the sell-side might slightly raise its EPS projections. Meanwhile, TD Cowen adjusted its price target for Burlington Stores to $335 from a previous $301 while keeping a Buy rating, attributing the change to improvements in the company’s supply chain and increased traffic during the back-to-school shopping season. Burlington’s second-quarter comparable store sales showed a modest 1% increase for April and May, despite macroeconomic challenges. Analysts from TD Cowen and UBS both express confidence in Burlington’s potential to capture business from struggling department stores. The company’s recent financial performance has led to expectations that earnings growth may exceed market expectations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.