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In 1946, Monroe Milstein and his father, Abe, set up shop to sell outerwear, both wholesale and retail. While business was profitable, their sales were limited to the cooler seasons. They gradually added other clothing, shoes, linens, gift items and a baby department.
Behind every successful man…
In 1972, Henrietta Milstein persuaded her husband Monroe to buy a former factory outlet in Burlington, New Jersey. As a frugal librarian, she had saved a substantial amount of cash that she wanted her husband to use for most of the $75,000 down payment. The cost of the factory outlet was $675,000, the equivalent of about $3.3 million by today’s standards.
Three years later, in 1975, Milstein opened a new store in Copiague, Long Island. He asked his son Lazer, who was living in Israel at the time, to return home and become the store’s legal owner. Lazer agreed, with the caveat that the store be closed Saturdays in observance of the Sabbath. In 1983, with 31 locations, Burlington Coat Factory Warehouse Corporation went public.
In 2006, the company was purchased by Bain Capital Partners.
In July 2012, to keep the company from moving its headquarters out of state, the company received a $40 million incentive to build new headquarters in Florence, adjacent to its existing headquarters.
In June 2013, Burlington went public and, in October 2013, the company’s stock rose more than 40% on its first day of trading. The company reported $4.35 billion in sales for the 12-month period.
In June 2016, it was announced that
Burlington Stores had joined the Fortune 500 for the first time.
Babies and Kids at Burlington
Burlington’s Baby Depot offers parents everything from baby clothes to strollers, cribs and car seats. And, for the older kids, there are today’s coolest fashions, school uniforms, backpacks and more.
With a huge selection of toys and everything for your home, Burlington is truly a one-stop-shop.
Why did Burlington remove “Coat Factory” from its name?
Burlington now goes by simply Burlington to reflect the stores’ wide assortment of merchandise. But, yes, Burlington still has an amazing selection of coats for all ages and all seasons.
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