Business Strategy and Outlook
| Zain Akbari |Burlington has not escaped pandemic-related turmoil, but we believe it and its off-price peers are better positioned than full-price sellers. With no imminent debt maturities and ample liquidity, Burlington has been able to successfully meet a changing environment and sharply higher inflation. Although the present environment poses unique challenges, the off-price sector has performed well in adverse economic conditions historically (Ross and TJX saw low- to mid-single-digit percentage comparable growth in 2008-09), and we expect Burlington to exit the crisis in better shape than full-price retailers.