Burlington (department store)
Products | Clothing, baby clothing, jewelry, accessories, shoes, furniture, home decor, toys, pet supply, and gifts |
---|---|
Revenue | US$9.32 billion (2021) |
US$545.30 million (2021) | |
US$408.84 million (2021) | |
Total assets | US$7.090 billion (2021) |
Total equity | US$760.42 million (2021) |
Number of employees | 40,000[2] (2018) |
Website | burlington.com |
Burlington, formerly known as Burlington Coat Factory, is an American national off-price department store retailer, and a division of Burlington Coat Factory Warehouse Corporation with more than 1,000 stores in 40 states and Puerto Rico, with its corporate headquarters located in Burlington Township, New Jersey. In 2007, it was acquired by Bain Capital in a transaction and in 2008, Tom Kingsbury became president and CEO. The company went public again in 2013. Burlington is the third largest off-price retailer after TJX Companies and Ross Stores.
History
Monroe Milstein and his father, Abe, had been running a successful wholesale and retail outerwear business together since 1946.[3] In 1972, Henrietta Milstein convinced her husband Monroe to purchase a former factory outlet in Burlington, New Jersey, for $675,050, using money she had saved from her job as a librarian for most of the $75,000 down payment.[4][5] Initially, the Milsteins sold coats and jackets in wholesale, but in order to become less dependent on the seasonal coat business, they gradually began adding clothing items and accessories, eventually expanding into linens, gift items, a baby department and shoes.[6][7]
A second location was opened in 1975 in
In 2006, the company was purchased by
In July 2012, the company received a $40 million incentive from the
On June 27, 2013, Burlington filed its S-1 registration statement with the SEC for an initial public offering.[13] In October 2013, the company's stock rose more than 40% on its first day of trading.[14] The company reported $4.35 billion in sales for the 12-month period ending August 3, 2013.[15] As of October 2013, the company operated 503 stores in 44 states and Puerto Rico under the names Burlington Coat Factory, Cohoes Fashions, Baby Depot, and MJM Designer Shoes.[16][17]
In 2016, Burlington Stores joined the Fortune 500 for the first time.[18] Tom Kingsbury served as the CEO from 2008 to 2018.[19]
Following the bankruptcy and closure of all
Charitable partnerships
Burlington has partnered with charitable organizations for several years. Since 2002, they have partnered with the joining the
In 2006, Burlington launched the Warm Coats and Warm Hearts Drive to collect coat donations for those in need. Partnering with ABC's Good Morning America and the national nonprofit Fashion Delivers, Burlington stores served as drop off spots for the donations, which were then distributed within the area by local charities. Since the program's inception, over 1.2 million coats have been collected and distributed.[24][25]
In 2012, the company first partnered with WomenHeart: The National Coalition for Women with Heart Disease to promote women's heart health education during National Heart Health Month[26][27] As part of this partnership, the company holds a yearly Red Dress Event, where red dresses are sold in stores, with $1 from every sale donated to WomenHeart.[28] In 2014, as part of the partnership they launched the “Heart of Style Tour”.[29] For the tour, a bus traveled to various store locations, with heart health professionals on board providing blood pressure tests and Body Mass Index (BMI) tests and education about women's heart disease.[30]
Business issues
Under investigation from animal welfare organization
From 1981 until 2009, Burlington Coat Factory's logo was supplemented with the tag "Not Affiliated with Burlington Industries."[35][36] When Burlington Coat Factory settled a trademark dispute with fabric maker Burlington Industries in 1981, Burlington Coat Factory agreed to say in advertising that the two companies were not affiliated.[37][38] Even though Burlington Industries ceased operations in 2004 following a buyout of its remaining operations, the "not affiliated" disclaimer remained on advertising logo and company media until 2009, when the text was retired from all logos used by the company.[39]
An urban legend concerning snakes hiding in coats being sold at Burlington became widely circulated in the early 1990s.[40] A representative from the company assured customers that since distribution centers and stores were maintained at 68 °F, a snake would not be able to survive retail conditions.[41]
In the
See also
References
- ^ "Burlington Stores, Inc. Announces Leadership Succession Plan". Burlington Stores, Inc Investor Relations. Retrieved 2018-08-17.
- ^ "Burlington Stores". Fortune. Archived from the original on 2019-05-14. Retrieved 2018-12-31.
- ^ "Burlington Coat Factory Offers Range Of Rugs. - Free Online Library". Thefreelibrary.com. 1998-09-14. Retrieved 2014-02-20.
- ^ a b Bloomberg News (2006-01-19). "Bain Capital Purchases Burlington, a Retailer". The New York Times. Retrieved 2014-02-20.
- ^ a b c Strauss, Robert (2006-02-05). "$2 Billion Later - NYTimes.com". The New York Times. Retrieved 2014-02-20.
- ^ "Apparel Stores Analysis: Monroe Milstein - Burlington Coat Factory Warehouse Corporation (bcf) | Round Table | SHX:TSE". Twst.com. 5 March 2001. Retrieved 2014-02-20.
- ^ "Burlington Stores, Inc. | Company profile from Hoover's | 609-387-7800". Webadept.hoovers.com. 2010-10-21. Archived from the original on 2014-03-14. Retrieved 2014-02-21.
- ^ "Twists, quirks and coats Success was based on family, luck - and a crucial rule". The Philadelphia Inquirer. 2011-08-30. Archived from the original on May 12, 2014. Retrieved 2014-02-20.
- ^ "Burlington Coat Factory Corporate Office". Corporate Offices & Headquarters. 4 July 2013. Retrieved 2014-02-20.
- ^ "Milsteins' biggest deal Burlington Coat sold for $2.06 billion". Philadelphia Inquirer. 2006-01-19. Archived from the original on May 13, 2014. Retrieved 2014-02-20.
- ^ Anne D'Innocenzio. "Burlington Stores shares climb in market debut". The Reporter. Archived from the original on 2014-05-13. Retrieved 2014-02-20.
- ^ Michael Mancuso (2012-07-12). "Burlington Coat Factory receives $40M from GrowNJ program to keep headquarters in New Jersey". NJ.com. Retrieved 2014-02-20.
- ^ "Burlington Holdings, Inc. (Form: S-1, Received: 06/27/2013 14:04:05)". Nasdaq.com. Retrieved 2014-02-20.
- ^ Pfeifer, Stuart (2013-10-02). "Burlington Coat Factory IPO a big hit with investors". Los Angeles Times. Archived from the original on 2014-01-15. Retrieved 2014-02-20.
- ^ "Bain Capital-backed Burlington Stores sets terms for $200 million IPO". NASDAQ.com. Retrieved 2014-02-20.
- ^ "Burlington Expects $250 Million from IPO - MRketplace / MR Magazine". Mrketplace.com. 2013-10-03. Archived from the original on 2014-03-14. Retrieved 2014-02-20.
- ^ Avik Das (2013-10-02). "Burlington Stores returns to market, shares jump 50 pct". Chicago Tribune. Archived from the original on May 13, 2014. Retrieved 2014-02-20.
- ^ "Here Are The 15 New Companies Joining The Fortune 500". fortune.com. 2016-06-06. Retrieved 2016-06-07.
- ^ "Exhibit99-1.HTM".
- ^ "These retailers will take over Bed Bath & Beyond's 'top-notch' store leases". cnbc.com. 2023-06-29. Retrieved 2023-07-19.
- ^ "Burlington to raise funds for blood cancer research". Retailing Today. 2013-07-08. Retrieved 2014-02-20.
- ^ "Style Files: Fashions that benefit Light the Night". WGN-TV. 2013-09-04. Retrieved 2014-02-20.
- ^ Bonander, Ross (2012-12-07). "Burlington Coat Factory Raises $3 million for the LLS" (Press release). Lymphomainfo.net. Retrieved 2014-02-20.
- ^ "Warm Coats & Warm Hearts Drive - ABC News". Abcnews.go.com. Retrieved 2014-02-20.
- ^ "Fashion Delivers". K.I.D.S./Fashion Delivers. Archived from the original on 2014-05-19. Retrieved 2014-02-20.
- ^ "About Us - WomenHeart: The National Coalition for Women with Heart Disease". WomenHeart. Retrieved 2014-02-20.
- ^ "Heart of Style Tour". Modern Day Moms. Retrieved 2014-02-20.
- ^ "Burlington Coat Factory launches red dress event". SunThisweek. 14 February 2013. Retrieved 10 April 2014.
- ^ "Community Calendar: Feb. 3 - March 29". Njtoday.net. 2014-01-30. Archived from the original on 2014-04-07. Retrieved 2014-02-20.
- CBS Philly. 2014-01-30. Retrieved 2014-02-20.
- Corpus Christi Caller Times. 2006-12-13. Archived from the originalon 13 May 2014. Retrieved 2014-02-20.
- ^ Boccio, Rose (January 2, 2001). "Fur-Raising Reality Dog And Cat Pelts Fetch A Profit". Pqasb.pqarchiver.com. Archived from the original on June 4, 2011. Retrieved May 30, 2009.
- Washington Post. February 5, 2008. Retrieved May 30, 2009.
- Washington Post. Archived from the originalon February 4, 2011. Retrieved May 30, 2009.
- ^ "Burlington Coat Factory Ad". Pittsburgh Post-Gazette. 1997-01-15. Retrieved 2014-02-20.
- ^ "Madison Capital Times, Thursday, April 10, 2003, Page 82". Newspaperarchive.com. 10 April 2003. Retrieved 2014-02-20.
- ^ Burlington Coat to clarify ads. (Burlington Coat Factory Warehouse Corp. ordered to change its advertising in trademark infringement suit with Burlington Industries Inc.), 1992-04-14
- ^ "1990 Burlington Coat Factory Commercial". YouTube. 1990-12-06. Retrieved 2014-02-20.
- ^ "Burlington Holdings, Inc. (Burlington Coat Factory)". Retail Career Hub. 2013-06-27. Archived from the original on 2014-05-12. Retrieved 2014-02-20.
- Snopes.com. 2010-01-11. Retrieved 2018-02-19.
- ^ "Season 1, Episode 1." Mostly True Stories: Urban Legends Revealed, written by Thomas Quinn, directed by Thomas Quinn, Burrud Productions, 2002.
- ^ "Burlington Coat coming to Manhattan". Daily News Record October 5, 1990, Marsh, Lisa, via archived HighBeam Research link
- ^ World Trade Center emergency damage ... January 3, 2008. Retrieved August 4, 2010.
- ISBN 9780160673894. Retrieved August 8, 2010.
- ^ G. Oliveto & A. Marinetti. "Twin Towers: Qualitative Analysis of Collapse Behavior". Google Scholar. Archived from the original on 9 July 2012. Retrieved August 8, 2010.
Also the landing gear was found at 45 Park Place...
- ^ Hernandez, Javier C. (May 25, 2010). "Vote Endorses Muslim Center Near Ground Zero". The New York Times. Retrieved August 1, 2010.
- ^ Dunning, Matt (May 6, 2010). "CB1 Committee Hails Plans for a Mosque Two Blocks from WTC Site". The Tribeca Trib. Archived from the original on May 28, 2010. Retrieved August 3, 2010.
- ^ Funk, Luke (January 19, 2010). "Ground Zero Mosque Plan Moves Forward; "Shame On You" Shouted at Panel". Fox News. Retrieved August 4, 2010.
- ^ Hernandez, Javier C. (July 13, 2010). "Planned Sign of Tolerance Bringing Division Instead". The New York Times. Retrieved August 1, 2010.
- ^ Structural Engineers Association of New York; Noah Klersfeld; Guy Nordenson and Associates; LZA Technology (2003). World Trade Center emergency damage assessment of buildings: Structural Engineers Association of New York inspections of September and October 2001. Vol. 1. Structural Engineers Association of New York. Retrieved August 3, 2010.
External links
- Official website
- Business data for Burlington Stores, Inc.: