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BURL - Burlington Stores Inc
$229.99
-9.18(-3.84%)9:00:02 PM 1/14/2022
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 740 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 take-private 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. Monroe Milstein and his father, Abe, had been running a successful wholesale and retail outerwear business together since 1946. 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. Initially, the Milsteins sold coats and jackets wholesale, but in order to become less dependent on the seasonal coat business, they gradually began adding additional clothing items and accessories, eventually expanding into linens, gift items, a baby department and shoes.
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