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Stock impact report

Burlington Stores furloughs nearly all store and distribution center workers, CEO foregoes pay [MarketWatch]

Burlington Stores, Inc. (BURL) 
Last burlington stores, inc. earnings: 3/5 06:45 am Check Earnings Report
US:NYSE Investor Relations: burlingtoninvestors.com
Company Research Source: MarketWatch
Burlington Stores Inc. said Monday that it has furloughed nearly all of its store associates and distribution center employees. The off-price retailer previously offered two weeks pay to workers for shuttered stores and distribution centers. Burlington CEO Michael O'Sullivan will not take his salary in the short term, the board will forego compensation and executive leaders will see their pay halved. And bonuses for fiscal 2019 as well as merit pay increases for fiscal 2020 have been delayed. Burlington previously suspended its share buyback program. Burlington also announced a bond deal valued at $300 million of notes that mature in 2025. Burlington shares slipped 1.7% in Monday premarket trading, but have gained 11.7% over the last year. The S&P 500 index is down 4% for the last 12 months. Show less Read more
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