About Burlington Coat FactoryBurlington Stores Inc. (Also known as Burlington Coat Factory Warehouse Corporation) is a retailer of country off the US price, with 540 stores in 44 states and Puerto Rico, with headquarters located in Burlington Township company, New Jersey. In 2006, it was acquired by Bain Capital in a take-private transactions and in 2008, Tom Kingsbury became Chairman and CEO. The company went public again in 2013.
The company was founded and incorporated in 1972 when Henrietta Monroe Milstein husband persuaded to buy an old factory outlet in Burlington, New Jersey for $ 675,000, using the money she had saved from her job as a library for most of the $ 75,000 down payment. Monroe and his father, Abe Milstein, has run a wholesale business and retail sportswear success together from 1946.Initially, the Milsteins sell wholesale jacket and shirt, but in order to become less dependent in the business seasonal clothes, they gradually begin adding clothing items and accessories, eventually expanding into the towel, gift items, a division and baby shoes.
A second location opened in 1975 in Copiague on Long Island, and Milstein Lazer asked son, who was living in Israel at the time, to return home and serve the legitimate owner of the shop for the new location. Lazer agree, on the condition that the stores be closed on Saturdays, their Sabbath. At that time, businesses are faced with legal action to be open on Sundays, with an exception being made for the religions observe a different Sabbath. In 1983, with 31 locations, the company, Burlington Coat Factory named JSC warehouse since it was bought by the family in 1972, went public.
In 2006, the company was bought by Bain Capital Partners for $ 2060000000. The Milstein family has held nearly 30 million shares of Burlington Coat Factory Warehouse Corporation, for about $ 1.3 billion, and Monroe Milstein was unassociated with the business following the sale, even though two of his sons, Stephen and Andrew, in a short time. Mark Nesci, executive vice president and former chief executive, was named to serve as acting executive director. The parent company, Burlington Coat Factory called Holdings Inc., which was formed to be the ultimate parent of the chain.
In July 2012, the company received $ 40 million from the Economic Development Agency of New Jersey as part of the program of state GrowNJ to build a new headquarters in Florence, adjacent to the headquarters his present, keep companies from moving their headquarters outside the state.
June 27, 2013, Burlington filed registration statement with its S-1 SEC for an initial public offering. In October 2013, shares of the company rose more than 40% compared to the first trading day. The company reported sales of $ 4350000000 in the 12 month period ending on August 3, 2013. As of October 2013, the company operated 503 stores in 44 states and Puerto Rico under the names Burlington House Coat machine, Cohoes Fashions, Baby Depot, MJM Designer Shoes and shoe Burlington.
According to Hoovers, the competitors Burlington Coat Factory leading to TJ Maxx's, Ross Stores and Bed Bath & Beyond.