Burlington Stores Raises Outlook as Low-Income Shoppers Remain Resilient

Burlington Stores BURL -12.24%decrease; red down pointing triangle raised its full-year outlook and said that low-income consumers were continuing to spend despite concerns about inflation and the economy.

“Given the economic uncertainty and the cost of living issues, we’ve been concerned about lower income customers,” Chief Executive Michael O’Sullivan said on the company’s earnings call. “But the good news is that this customer has been very resilient.”