Gordon Haskett downgraded Burlington Stores (BURL) to Hold from Buy with a $270 price target. The firm views the lack of a recovery in foot traffic recently at Burlington is disappointing. Gordon Haskett is now incrementally concerned that Ross Stores’ (ROST) recent efforts to improve sales productivity could be taking market share away from Burlington. In addition, Burlington will be lapping a “very difficult” 6.0% holiday quarter comp from last year, the analyst tells investors in a research note.
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