Why Burlington Dropped While Williams-Sonoma and Coty Stocks Popped Today
Three retailers had equally strong quarterly earnings results, but one of the company's stocks went in a different direction. Shares of home retailer Williams-Sonoma (NYSE: WSM) and beauty and cosmetics company Coty (NYSE: COTY) soared on the news, but the stock of Burlington Stores (NYSE: BURL) sank on a warning from the CEO. As of 11:15 a.m. EDT, the stocks traded as follows:
Each retailer provided impressive rebounds from the pandemic-impacted previous-year period. Burlington reported a 34% increase in total sales compared to the second quarter of 2020, and 19% growth in comparable store sales. Williams-Sonoma said revenue also grew over 30% and its e-commerce sales grew 58% versus the comparable pre-pandemic period in 2019.
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Source Fool.com
