Will Burlington Stores (BURL) be Able to Grow Despite Economic Uncertainty?

ClearBridge Investments, an investment management firm, released its fourth-quarter 2022 “Mid Cap Growth Strategy” investor letter – a copy of which can be downloaded here. The strategy underperformed the Russell Midcap Growth Index in the fourth quarter. It gained across six of the 10 sectors in which it was invested in the quarter. The industrials, health care, and consumer discretionary sectors were the leading contributors while the IT sector was the primary detractor. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Mid Cap Growth Strategy highlighted stocks like Burlington Stores, Inc. (NYSE:BURL) in its Q4 2022 investor letter. Headquartered in Burlington, New Jersey, Burlington Stores, Inc. (NYSE:BURL) is a branded apparel retailer. On February 17, 2023, Burlington Stores, Inc. (NYSE:BURL) stock closed at $227.94 per share. One-month return of Burlington Stores, Inc. (NYSE:BURL) was 2.75% and its shares gained 3.11% of their value over the last 52 weeks. Burlington Stores, Inc. (NYSE:BURL) has a market capitalization of $14.86 billion.

ClearBridge Mid Cap Growth Strategy made the following comment about Burlington Stores, Inc. (NYSE:BURL) in its Q4 2022 investor letter:

“We also benefited from a number of strong company-specific drivers within the consumer discretionary sector including Burlington Stores, Inc. (NYSE:BURL), an apparel and accessories retailer that offers a wide variety of products at discount prices. Burlington has rectified many of the supply chain issues which reduced its inventory earlier in the year and is now well stocked to cater to greater consumer demand. Additionally, discount retailers such as Burlington tend to have high new consumer retention rates, which we feel will increase the company’s customer base and drive growth beyond near-term economic uncertainty.”

Burlington Stores, Inc. (NYSE:BURL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Burlington Stores, Inc. (NYSE:BURL) at the end of the third quarter, which was 38 in the previous quarter.

We discussed Burlington Stores, Inc. (NYSE:BURL) in another article and shared the list of largest apparel companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.