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Burlington Stores, Inc.
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About Burlington Stores, Inc.

Burlington Stores (dba Burlington Coat Factory) takes the "Brrr!" out of your life. The clothing retailer, which made its name selling coats, operates nearly 700 no-frills retail stores (averaging 70,000 square feet) offering off-price current, brand-name clothing in about 45 states plus Puerto Rico. Although it is one of the nation's largest coat sellers, the stores also sells a full wardrobe of products, including children's apparel, bath items, furniture, gifts, jewelry, linens, and shoes. Sister chains include a pair of higher-priced Cohoes Fashions shops, a pair of Super Baby Depot stores, and about ten MJM Designer Shoe stores. Burlington Stores was founded in 1972.

Operations

Almost all Burlington's sales are rung up at its Burlington Coat Factory Warehouse stores. Women's ready-to-wear apparel is its biggest earner at a quarter of sales, followed by accessories and shoes (more than 20%), menswear (20%), youth and baby apparel (15%), home (15%), and coats (5%).

Its three other smaller businesses -- Cohoes Fashions (off-price designer apparel), MJM Designer Shoe, and Super Baby Depot -- account for the rest. As its name suggests, Super Baby Depot's two stores sell baby clothing, accessories, furniture, and everything else a baby might need in the middle to higher price range. The company's MJM Designer Shoe sells brand names at significant discounts. Cohoes Fashions offers products similar to those offered by the mainline stores.

Geographic Reach

New Jersey-based Burlington has stores in 45 states and Puerto Rico. Its four primarily distribution centers, which ship almost all its merchandise, are located in Edgewater Park and Burlington, New Jersey, and San Bernardino and Redlands, California. Three warehouses support its distribution centers.

Sales and Marketing

Burlington Coat Factory takes less of a markup than its department store competition and has lower profit margins than other clothing retailers. It buys the coats early in the season (up to five months before department stores) to lock in lower prices.

The company's marketing channels include TV, direct mail, email, digital and social marketing, and radio. 

Financial Performance

Burlington Stores has recorded increasing revenue and profits over the last six years.

In fiscal 2019 (ended February 2) the company's sales grew 9% to $6.6 billion thanks to store openings and higher like-for-like sales, partially offset by one less trading week than fiscal 2018 (which was a 53-week year). Burlington opened 46 net stores during the year, taking the total to 675.

Net income grew 8% to $414.7 million due to higher sales and increased margins, partially offset by an increase in income tax expenses. Burlington kept a lid on cost of sales, which benefited from strong merchandise margins, and store related costs, which fell relative to sales.

Burlington's cash on hand fell $26.9 million during fiscal 2019, ending the year at $134.2 million. The company's operations generated $639.7 million, offset by the $298.5 million used in its investing activities and $368.1 million used in its financing. Burlington's main cash uses in 2019 were capital expenditures (such as store openings) and share repurchases.

Strategy

Burlington's growth strategy is fairly simple: grow its store base, refine its business model, improve its customer segmentation, and drive e-commerce growth.

Store openings are Burlington's main route to growth. The company has identified 1,000 viable new store locations and has been adding 30-40 stores each year toward that goal. It reached 675 at the end of fiscal 2019 (ended February 2).

To refine its business model, Burlington is reducing store inventories to accelerate inventory turnover and is deploying business intelligence systems to identify sell-through rates, capitalize on the best performers, and identify upcoming trends. These efforts are tied in with its goal of appealing more to its core demographic of women aged 25-49 with $25,000-$100,000 in household income. It hopes that by improving the attractiveness of its ready-to-wear clothing it will result in upsell across all categories, increasing store performance.

Burlington Stores, Inc.

2006 ROUTE 130 N
Burlington, NJ 08016-9716
Phone: 1 (609) 387-7800

Stats

Employer Type: Publicly Owned
Stock Symbol: BURL
Stock Exchange: , NYSE
CFO and Principal: Marc D. Katz
Chairman, President and CEO: Thomas A. Kingsbury
Chief Merchandising Officer and Principal: Jennifer Vecchio
Employees (This Location): 120
Employees (All Locations): 44,000

Major Office Locations

Burlington, NJ

Other Locations

Anchorage, AK
Dothan, AL
Huntsville, AL
Irondale, AL
Mobile, AL
Montgomery, AL
Vestavia Hills, AL
Fort Smith, AR
Jonesboro, AR
North Little Rock, AR
Rogers, AR
Chandler, AZ
Goodyear, AZ
Mesa, AZ
Phoenix, AZ
Tempe, AZ
Tucson, AZ
Alhambra, CA
Apple Valley, CA
Canoga Park, CA
Cerritos, CA
Chula Vista, CA
Citrus Heights, CA
City Of Industry, CA
Compton, CA
Concord, CA
Corona, CA
Dublin, CA
El Centro, CA
Elk Grove, CA
Fresno, CA
Fullerton, CA
Garden Grove, CA
Gilroy, CA
Inglewood, CA
La Mesa, CA
Manteca, CA
Milpitas, CA
Mission Viejo, CA
Modesto, CA
Moreno Valley, CA
Murrieta, CA
Newark, CA
Palm Springs, CA
Pinole, CA
Pittsburg, CA
Riverside, CA
Sacramento, CA
San Diego, CA
Santa Ana, CA
Thousand Oaks, CA
Torrance, CA
Vacaville, CA
Ventura, CA
Vista, CA
West Covina, CA
Whittier, CA
Woodland, CA
Aurora, CO
Colorado Springs, CO
Lakewood, CO
Westminster, CO
Bloomfield, CT
Farmington, CT
Meriden, CT
Orange, CT
Stamford, CT
Waterbury, CT
Claymont, DE
Dover, DE
Newark, DE
Boca Raton, FL
Boynton Beach, FL
Bradenton, FL
Brandon, FL
Coral Springs, FL
Cutler Bay, FL
Davie, FL
Daytona Beach, FL
Fort Myers, FL
Hallandale Beach, FL
Hollywood, FL
Jacksonville, FL
Lake Park, FL
Lauderdale Lakes, FL
Miami, FL
Naples, FL
Ocala, FL
Orlando, FL
Pensacola, FL
Port Richey, FL
Royal Palm Beach, FL
Sanford, FL
Sarasota, FL
Seminole, FL
Tallahassee, FL
Tampa, FL
West Palm Beach, FL
Atlanta, GA
Augusta, GA
Austell, GA
Buford, GA
Columbus, GA
Conyers, GA
Decatur, GA
Doraville, GA
Douglasville, GA
Kennesaw, GA
Lawrenceville, GA
Lilburn, GA
Lithonia, GA
Macon, GA
Marietta, GA
Savannah, GA
Bettendorf, IA
Cedar Rapids, IA
Nampa, ID
Bloomingdale, IL
Bolingbrook, IL
Chicago, IL
Crestwood, IL
Crystal Lake, IL
Danville, IL
Elgin, IL
Glenview, IL
Harwood Heights, IL
Hoffman Estates, IL
Joliet, IL
Machesney Park, IL
Matteson, IL
Melrose Park, IL
Mundelein, IL
Naperville, IL
Oswego, IL
Peoria, IL
Riverside, IL
Rockford, IL
Skokie, IL
Tinley Park, IL
Villa Park, IL
Clarksville, IN
Evansville, IN
Fort Wayne, IN
Indianapolis, IN
Merrillville, IN
Mishawaka, IN
Plainfield, IN
Terre Haute, IN
Olathe, KS
Overland Park, KS
Shawnee Mission, KS
Wichita, KS
Covington, KY
Florence, KY
Lexington, KY
Louisville, KY
Alexandria, LA
Baton Rouge, LA
Harvey, LA
Kenner, LA
Lafayette, LA
Monroe, LA
Shreveport, LA
Billerica, MA
Bridgewater, MA
Fall River, MA
Haverhill, MA
Leominster, MA
Natick, MA
Peabody, MA
Revere, MA
Somerville, MA
Springfield, MA
Westborough, MA
Worcester, MA
Annapolis, MD
Baltimore, MD
Gaithersburg, MD
Glen Burnie, MD
Hanover, MD
Silver Spring, MD
Temple Hills, MD
Bangor, ME
Auburn Hills, MI
Benton Harbor, MI
Flint, MI
Grand Rapids, MI
Harper Woods, MI
Portage, MI
Redford, MI
Roseville, MI
Warren, MI
Westland, MI
Minneapolis, MN
Roseville, MN
Saint Cloud, MN
Saint Paul, MN
Grandview, MO
Hazelwood, MO
Independence, MO
Saint Louis, MO
Saint Peters, MO
Jackson, MS
Southaven, MS
Burlington, NC
Cary, NC
Charlotte, NC
Concord, NC
Durham, NC
Fayetteville, NC
Jacksonville, NC
Pineville, NC
Winston Salem, NC
Winterville, NC
Fargo, ND
Omaha, NE
Concord, NH
Nashua, NH
Beverly, NJ
Blackwood, NJ
Brick, NJ
Burlington, NJ
Charleston, NJ
East Windsor, NJ
Egg Harbor Township, NJ
Elizabeth, NJ
Freehold, NJ
Linden, NJ
Marlton, NJ
North Bergen, NJ
Ocean, NJ
Pine Brook, NJ
Sandy, NJ
Secaucus, NJ
South Plainfield, NJ
Trenton, NJ
Vineland, NJ
Warren, NJ
Wayne, NJ
Woodbridge, NJ
Albuquerque, NM
Carson City, NV
Henderson, NV
Las Vegas, NV
Reno, NV
Albany, NY
Bronx, NY
Brooklyn, NY
Buffalo, NY
East Meadow, NY
Garden City, NY
Glen Oaks, NY
Horseheads, NY
Johnson City, NY
Kingston, NY
Lake Grove, NY
Middletown, NY
New York, NY
Niagara Falls, NY
Poughkeepsie, NY
Rego Park, NY
Staten Island, NY
Syracuse, NY
Utica, NY
Valley Stream, NY
Watertown, NY
Webster, NY
West Nyack, NY
White Plains, NY
Canton, OH
Cincinnati, OH
Columbus, OH
Cuyahoga Falls, OH
Dayton, OH
Euclid, OH
Macedonia, OH
Ontario, OH
Oklahoma City, OK
Tulsa, OK
Portland, OR
Salem, OR
Easton, PA
Erie, PA
Greensburg, PA
Jenkintown, PA
Muncy, PA
Philadelphia, PA
Pittsburgh, PA
Reading, PA
Uniontown, PA
West Mifflin, PA
York, PA
Caguas, PR
Cranston, RI
Johnston, RI
Warwick, RI
Columbia, SC
Spartanburg, SC
Sioux Falls, SD
Kingsport, TN
Memphis, TN
Amarillo, TX
Arlington, TX
Austin, TX
Baytown, TX
Brownsville, TX
Cedar Hill, TX
Conroe, TX
Corpus Christi, TX
Dallas, TX
Edinburg, TX
El Paso, TX
Fort Worth, TX
Grapevine, TX
Harlingen, TX
Houston, TX
Irving, TX
Longview, TX
Lubbock, TX
Mcallen, TX
Mesquite, TX
New Braunfels, TX
North Richland Hills, TX
Odessa, TX
Pasadena, TX
Pearland, TX
Plano, TX
Richardson, TX
San Antonio, TX
Sherman, TX
Spring, TX
Tyler, TX
Waco, TX
Webster, TX
Wichita Falls, TX
West Jordan, UT
West Valley City, UT
Chesapeake, VA
Colonial Heights, VA
Fairfax, VA
Falls Church, VA
Glen Allen, VA
Lynchburg, VA
Newport News, VA
North Chesterfield, VA
Roanoke, VA
Burlington, VT
Auburn, WA
Kennewick, WA
Lacey, WA
Lakewood, WA
Spokane, WA
Tukwila, WA
Madison, WI
Milwaukee, WI