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Piper Sandler upgrades Burlington Stores to overweight from neutral, raises target to US$240 from US$155; department stores seem highly conservative for H1 inventory buys, which creates favorable environment for off-price to take continued share

Discount retailers are stepping in to take over vacant or soon-to-be vacant Bed Bath & Beyond storefronts amid company's store closures, bankruptcy, per CNN reports; retailers include Ross, TJ Maxx, HomeGoods, Five Below, Nordstrom Rack, Burlington

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