Who Owns Burlington Coat Factory?
Updated: September 18, 2023
Burlington Coat Factory, a well-known American off-price department store retailer, has a complex ownership structure that has evolved over the years. As of my knowledge, the company was publicly traded on the New York Stock Exchange under the ticker symbol “BURL.” However, it’s important to note that ownership of publicly traded companies can change over time due to stock transactions and acquisitions, so the current ownership status may differ from what is described here.
Burlington’s history dates back to 1972 when it was founded by Monroe Milstein, initially as a single store selling discounted coats. Over the decades, the company expanded its product offerings to include a wide range of apparel, footwear, accessories, and home goods, becoming a popular destination for bargain shoppers across the United States.
In 2006, Burlington Coat Factory Holdings, Inc. went public with an initial public offering (IPO) under the ownership of Bain Capital Partners, LLC, a private equity firm. Bain Capital had acquired the company in 2006 and later took it public to capitalize on its growth potential.
Please keep in mind that ownership structures of publicly traded companies can change, and it’s advisable to verify the current ownership status of Burlington Coat Factory by checking the latest financial reports, news articles, or the company’s official website for the most up-to-date information.
What is Burlington Coat Factory?
Burlington, formerly known as Burlington Coat Factory, is an American off-price department store retailer that offers a wide range of products at discounted prices. Founded in 1972 by Monroe Milstein as a single store primarily selling coats, the company has since expanded its product offerings to include clothing, footwear, accessories, home goods, and more.
Burlington is known for its focus on providing customers with quality products at significantly lower prices than traditional department stores. The company sources merchandise through various channels, including direct purchases from manufacturers, overstock inventory, and closeout sales, allowing them to offer a diverse selection of brand-name and designer products at reduced prices.
Burlington operates stores across the United States and Puerto Rico, making it a popular destination for bargain shoppers looking for clothing, home decor, and other goods at discounted rates. The stores typically feature a wide variety of products, with a particular emphasis on fashion and seasonal items.
Over the years, Burlington has grown and evolved, becoming a prominent player in the off-price retail sector. While it was originally known for its selection of coats, its product range now encompasses a comprehensive assortment of merchandise to meet the diverse needs of its customers.
History of Burlington Coat Factory
The history of Burlington Coat Factory, now known as Burlington, is a story of growth and transformation from a single coat store to a prominent American off-price department store retailer. Here’s a brief overview of its history:
Founding (1972): Burlington Coat Factory was founded in Burlington, New Jersey, in 1972 by Monroe Milstein. Initially, it started as a single store focused on selling discounted coats for men, women, and children. The concept was to provide high-quality coats at affordable prices.
Expansion (1980s – 1990s): Over the next couple of decades, Burlington Coat Factory expanded its product offerings beyond coats. The company diversified its inventory to include clothing, footwear, accessories, and home goods. This expansion strategy allowed it to cater to a broader customer base and become a one-stop shop for bargain hunters.
Growth and Acquisitions (2000s): In 2006, Burlington Coat Factory Holdings, Inc. went public with an initial public offering (IPO). Prior to going public, the company was acquired by Bain Capital Partners, LLC, a private equity firm, in 2006. The move to go public aimed to leverage the company’s growth potential and raise capital for further expansion.
Rebranding to Burlington (2016): In 2016, the company rebranded itself as “Burlington” to reflect its evolving product range and to move away from the perception that it only sold coats. The name change was part of a broader effort to modernize the brand and attract a wider audience.
National Presence: Burlington has steadily expanded its store footprint across the United States and Puerto Rico. It operates in various formats, including standalone stores and shopping mall locations. Its stores typically feature a wide variety of discounted merchandise, with a particular emphasis on fashion and seasonal items.
Continued Growth: Burlington continued to grow and thrive as a leading off-price retailer in the United States. It positioned itself as a value-oriented shopping destination, offering customers the opportunity to find brand-name and designer products at significantly lower prices compared to traditional department stores.
Pros and Cons of Burlington
Burlington, as an off-price department store retailer, has its own set of advantages (pros) and disadvantages (cons) for both shoppers and investors. Here are some of the key pros and cons associated with Burlington:
Discounted Prices: Burlington is known for offering substantial discounts on brand-name and designer merchandise. Shoppers can find high-quality products at significantly lower prices compared to traditional department stores.
Diverse Selection: Burlington offers a wide range of products, including clothing, footwear, accessories, home goods, and more. This diverse selection makes it a convenient one-stop shop for a variety of consumer needs.
Treasure Hunt Experience: Some shoppers enjoy the thrill of hunting for hidden gems and unique finds in Burlington’s ever-changing inventory. This “treasure hunt” aspect can make shopping at Burlington an exciting experience.
Brand Variety: Burlington carries a mix of well-known brands and designer labels, giving customers the opportunity to access premium products at discounted rates.
Store Locations: Burlington has a significant presence across the United States and Puerto Rico, with numerous store locations. This widespread availability makes it accessible to a broad customer base.
Customer Loyalty Program: Burlington has a loyalty program called Burlington Rewards, which offers members exclusive discounts, promotions, and rewards for frequent shopping.
Limited Inventory Consistency: The constantly changing inventory at Burlington can be a disadvantage for shoppers who prefer consistent selections and specific product styles. Not all items are consistently available.
In-Store Experience: While some shoppers enjoy the treasure hunt aspect, others may find the store’s layout and organization less user-friendly than traditional department stores. It can sometimes be challenging to navigate.
Quality and Sizing: Since Burlington carries a mix of products, the quality and sizing of items may vary. It’s important for shoppers to carefully inspect items before purchase.
Returns Policy: Burlington’s return policy can be somewhat restrictive, with a shorter return window compared to some other retailers. This can be inconvenient for customers who change their minds about a purchase.
Limited Online Shopping: Burlington had limited online shopping capabilities compared to some competitors. Online shoppers may have a more limited selection compared to in-store shoppers.
Competitive Market: Burlington faces strong competition from other off-price retailers, which means customers have a variety of options when it comes to finding discounted merchandise.
It’s essential to keep in mind that individual experiences with Burlington can vary widely, and some of these pros and cons may be more or less significant depending on personal preferences and priorities.
How Does Burlington Work?
Burlington, now known as Burlington, operates as an off-price department store retailer in the United States. The company follows a business model that allows it to offer discounted prices on a wide range of products. Here’s how Burlington works:
Burlington follows the off-price retailing strategy. This means they purchase merchandise directly from manufacturers, wholesalers, or retailers at a lower cost. The products they acquire may include overstock, closeout items, canceled orders, excess inventory, and irregulars. These items are often brand-name or designer products, allowing Burlington to sell them at discounted prices.
Diverse Product Offerings:
Burlington offers a broad and diverse range of products, including clothing, footwear, accessories, home goods, and more. The product selection includes both current-season items and merchandise from previous seasons.
Burlington offers products from a wide array of well-known brands and designers, providing customers with access to premium and popular labels at discounted prices.
In-Store and Online Shopping:
Customers have the option to shop in-store at one of Burlington’s many retail locations across the United States and Puerto Rico. In addition, Burlington provides an online shopping platform where customers can browse, select, and purchase products from the comfort of their homes.
Treasure Hunt Experience:
Shopping at Burlington often involves a “treasure hunt” experience. The inventory constantly changes, and shoppers may discover unique or unexpected items during their visit. This approach can make shopping at Burlington exciting for bargain hunters.
Burlington’s pricing strategy focuses on providing value to customers. The prices are significantly lower than those found in traditional department stores, offering cost savings to budget-conscious shoppers.
Customer Loyalty Program:
Burlington has a loyalty program called Burlington Rewards. Customers can join the program to earn points for their purchases, and these points can be redeemed for discounts on future purchases.
Burlington has a substantial retail presence with stores located across the United States and Puerto Rico. Customers can find conveniently located stores in various cities and regions.
Advertising and Promotions:
Burlington often runs advertising campaigns and promotions to attract customers and drive sales. These may include discounts, special sales events, and clearance promotions.
By leveraging its off-price retailing model, diverse product offerings, and strategic pricing, Burlington aims to provide customers with a satisfying shopping experience while offering excellent value on a wide range of products.
How Does Burlington Underwear Look?
Burlington, as an off-price department store retailer, offers a wide variety of underwear styles from different brands and designers. The appearance of Burlington’s underwear can vary significantly depending on the brand, style, and design preferences of the individual products available in their inventory. Here are some common characteristics and styles you may find when shopping for underwear at Burlington:
Brands and Designers: Burlington typically carries a mix of well-known brands and designer labels. This means you can find underwear with various logos, patterns, and styles associated with those brands.
Styles: Burlington offers a range of underwear styles to suit different preferences, including:
- Briefs: Classic and traditional underwear style with full coverage.
- Boxer Briefs: A hybrid style that provides more coverage than briefs but with a snug fit.
- Boxers: Loose-fitting and comfortable underwear with a relaxed fit.
- Thongs: Minimal coverage style with a thin waistband and minimal fabric.
- Bikini: A style that offers moderate coverage and a low-rise waistband.
- Boyshorts: A style with a lower waistline and full coverage, often with a sporty look.
Colors and Patterns: The color and pattern options for Burlington’s underwear can vary widely. You can find solid-colored underwear, underwear with various patterns (stripes, polka dots, etc.), and underwear featuring logos or branding.
Materials: Burlington offers underwear made from various materials, including cotton, microfiber, modal, lace, and more. The choice of material can impact the look and feel of the underwear.
Sizes: Burlington typically carries a range of sizes to accommodate various body types. Make sure to check the sizing options available in-store or online to find the right fit for you.
Packaging: Burlington’s underwear is usually packaged in sets, with multiple pairs sold together in a single package. This allows customers to purchase underwear in bulk at discounted prices.
It’s important to note that the specific appearance of Burlington’s underwear can change over time as they continuously update their inventory with new products from different brands and designers. To get a better idea of the current styles and designs available, you may want to visit a Burlington store or browse their website, where you can view images and descriptions of their underwear offerings.
Burlington, an off-price department store retailer, competes in a highly competitive retail landscape with several other companies that operate in a similar space. Some of Burlington’s key competitors include:
T.J. Maxx: T.J. Maxx, owned by TJX Companies, is one of the largest off-price retailers in the United States. Like Burlington, it offers discounted brand-name and designer merchandise in various categories, including clothing, home goods, and accessories.
Ross Stores: Ross Stores, which includes Ross Dress for Less and dd’s Discounts, is another major off-price retail chain. They sell a wide range of discounted apparel, footwear, home decor, and more.
Marshalls: Also owned by TJX Companies, Marshalls is similar to T.J. Maxx in offering discounted fashion and home goods items. It competes directly with Burlington in the off-price segment.
Nordstrom Rack: Nordstrom Rack is the off-price division of the upscale department store Nordstrom. It offers discounted clothing, shoes, accessories, and home goods, attracting both bargain shoppers and brand-conscious consumers.
Saks OFF 5TH: Saks OFF 5TH is the off-price arm of luxury department store Saks Fifth Avenue. While it focuses on offering discounted designer fashion and accessories, it competes with Burlington in the broader off-price market.
Kohl’s: While Kohl’s is not exclusively an off-price retailer, it often competes in the same space by offering discounted apparel, accessories, and home goods through its frequent sales and promotions.
Target: Target, a large discount retail chain, offers a wide range of products, including clothing, home goods, and accessories. It competes with Burlington, particularly in the areas of affordable fashion and home decor.
Walmart: Walmart, one of the world’s largest retailers, competes with Burlington in various product categories, including clothing, footwear, and home goods, by offering low prices and a wide selection.
Amazon: As a major e-commerce platform, Amazon competes with Burlington and other brick-and-mortar retailers by offering a vast selection of products at competitive prices, often including discounted clothing and accessories.
These competitors vary in terms of their product offerings, pricing strategies, and target demographics. Burlington distinguishes itself by focusing on value-conscious consumers seeking discounted brand-name merchandise, while its competitors also target similar customer segments. The off-price retail sector is highly competitive, with each company striving to provide consumers with the best deals and value for their money.
Who owns Burlington Coat Factory?
Burlington was a publicly traded company listed on the New York Stock Exchange under the ticker symbol “BURL.” Ownership of publicly traded companies can involve a diverse group of shareholders, including institutional investors, individual investors, and company insiders.
Has Burlington Coat Factory been owned by private equity firms?
Yes, in the past, Burlington Coat Factory was acquired by private equity firm Bain Capital Partners, LLC, in 2006. Subsequently, the company went public with an initial public offering (IPO).
Is Burlington Coat Factory still privately owned?
Burlington was a publicly traded company, meaning it was not privately owned. It was listed on the stock exchange, allowing individuals and institutional investors to buy and sell its shares.
Are there any recent ownership changes for Burlington?
Ownership can change over time due to stock transactions, acquisitions, or other corporate actions. To find the most up-to-date information on Burlington’s ownership, it’s advisable to consult recent financial reports, news articles, or the company’s official website.
How can I verify Burlington’s current ownership status?
You can verify Burlington’s current ownership status by checking financial news sources, the company’s investor relations website, or the U.S. Securities and Exchange Commission (SEC) filings. Publicly traded companies are required to disclose ownership and financial information through regulatory filings.
Does Burlington have a parent company?
Burlington was an independent publicly traded company. It did not have a publicly disclosed parent company. However, corporate structures can change, so it’s essential to verify if there have been any changes in the corporate structure since then.
In conclusion, Burlington, formerly known as Burlington Coat Factory, was a publicly traded company listed on the New York Stock Exchange under the ticker symbol “BURL.” While it had previously been owned by private equity firm Bain Capital Partners, LLC, it had gone public with an initial public offering (IPO) and was operating as an independent publicly traded company.
Ownership of publicly traded companies can change over time due to stock transactions, acquisitions, or other corporate actions. Therefore, it’s essential to verify the most up-to-date information regarding Burlington’s ownership by consulting recent financial reports, news articles, or the company’s official website.