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Burlington Coat Factory – A Renowned Off-Price National Retailer of Department Store in America
Burlington Coat Factory, popular with the name of Burlington is one of the most eminent off-price departmental store retailer across the US having over 540 stores in more than 44 states. Acclaiming several accolades into its account, the company has become a crucial part of Fortune 500 companies list in June 2016. Owing to this recognition, the company still continues to seek ideal properties on lease to open its company-owned stores worldwide.
Its current market value
Registered under NYSE (New York Stock Exchange) with the ticker name BURL, the company holds the 91th position in the list of America’s largest private companies as on 2014 according to the Forbes. According to the financial analysis of the Wall Street Journal, the company records an overall growth of 114.37% in its net income as of Oct’16. Furthermore, it also estimates an overall growth of 8.91% in its revenue or sales that currently accounts for $5.13 Billion.
However, as per the reports of Marketwatch, the company’s gross income this year is $1.9 Billion and net income amounts to $150.48 Million. With such progressive growth, the company becomes a noteworthy alternative of investment for the investors promising higher growth in the near future.
How it came into existence?
The very roots of Burlington Coat Factory lie back in the year 1924. Initiated as a wholesaler of junior suits and ladies coats, the company gradually gained popularity over the years. It all started with Henrietta Milstein and her beau Monroe when they purchased a factory outlet at Burlington in New Jersey for $675,000. Although, her father Abe Milstein and Monroe were already into the business of retail and wholesale outerwear since 1946, they gradually added diverse clothing items into its collection.
The year 1975 marked the opening of its second store in Copiague on the Long Island. Furthermore, by the year 1983, the company began its operations in 31 locations and became a publicly traded warehouse corporation. With every passing year, the company went through various leaps and bounds. In the year 2006, the renowned Bain Capital Partners in $2.06 billion bought the company and became private.
The year 2012 earned great incentive for the company of about $40 million from NJEDA (New Jersey Economic Development Authority). In 2013, the company again started trading as a public company and reported overall sales of $4.35 billion. A big achievement further came into the successive growth of the company when the company occupied a respectable position in the list of Fortune 500 companies in the year 2016.
How it functions?
Currently owning more than 540 stores across 44 different states of the US and the Puerto Rico, the company aims at establishing its retail outlets on a global platform. To accomplish this objective, it is rigorously seeking for ideal properties on lease so as to open its new branches internationally. Being a profit earning company, it invites investors to become a crucial partner in its profit sharing by making a minimum investment of $5M to $10M.
If you have the property, well-suiting to its requirements along with the desired funds, you can sign in a corporate lease agreement with the company. According to its agreement, the initial minimum tenure for lease of your property may vary from 15 to 20 years. However, they can further extend their lease term from 20 to 40 years depending on the kind of profit you earn over the years. Furthermore, the company also promises to offer an increment of 10 % after every 5 years in your rent.
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