Burlington Stores, Inc. (NYSE: BURL), a nationally recognized
off-price retailer of high-quality, branded apparel, footwear,
accessories, and merchandise for the home at everyday low prices,
announced today that Shira Goodman, former Chief Executive Officer
of Staples, Inc., is joining its Board of Directors and its Audit
Committee effective January 1, 2025.
John Mahoney, Chairman of the Board, stated, “We are very
pleased to welcome Shira to our Board as a highly accomplished
business leader with considerable public company board experience.
I believe that she will enhance the depth and strength of our Board
as it continues to oversee the Company’s continued strategic
growth.” Michael O’Sullivan, Chief Executive Officer, stated, “We
are very excited to have Shira as a Board member. She has almost
three decades of experience in the retail industry, and her
perspectives and expertise will benefit us as we continue to
execute on the Burlington 2.0 strategy and aim to drive sales and
earnings growth in the years ahead.”
Ms. Goodman added, “I am excited to join Burlington’s Board and
work with the leadership team. I believe the Company is well
positioned for continued growth and I am eager to contribute to the
Company's continued success.”
About Shira Goodman
Ms. Goodman has served as an Advisory Director to Charlesbank
Capital Partners, a private equity firm, since January 2019. She
previously served as the Chief Executive Officer of Staples, Inc.
from September 2016 to January 2018. Ms. Goodman served in roles
with increasing responsibility at Staples since joining the company
in 1992, including President and Interim Chief Executive Officer
from June 2016 to September 2016, President, North American
Operations from January 2016 to June 2016, and President, North
American Commercial from February 2014 to June 2016. Prior to that,
she served as Executive Vice President of Global Growth from
February 2012 to February 2014, Executive Vice President of Human
Resources from March 2009 to February 2012, Executive Vice
President of Marketing from May 2001 to March 2009, and in various
other management positions. Prior to Staples, Ms. Goodman worked at
Bain & Company from 1986 to 1992, in project design, client
relationships and case team management. She currently serves on the
board of directors of CarMax, Inc. and CBRE Group, Inc., and
previously served on the board of directors of Henry Schein, Inc.,
Staples, Inc. and The Stride Rite Corporation.
About Burlington Stores, Inc.
Burlington Stores, Inc., headquartered in New Jersey, is a
nationally recognized off-price retailer with Fiscal 2023 net sales
of $9.7 billion. The Company is a Fortune 500 company and its
common stock is traded on the New York Stock Exchange under the
ticker symbol “BURL.” The Company operated 1,103 stores as of the
end of the third quarter of Fiscal 2024, in 46 states, Washington
D.C. and Puerto Rico, principally under the name Burlington Stores.
The Company’s stores offer an extensive selection of in-season,
fashion-focused merchandise at up to 60% off other retailers'
prices, including women’s ready-to-wear apparel, menswear, youth
apparel, baby, beauty, footwear, accessories, home, toys, gifts and
coats.
For more information about the Company, visit
www.burlington.com.
Investor Relations Contacts: David J. Glick
Daniel Delrosario 855-973-8445
Info@BurlingtonInvestors.com Allison Malkin ICR, Inc.
203-682-8225
Safe Harbor for Forward-Looking and Cautionary
Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical fact included in
this release are forward-looking statements. Forward-looking
statements discuss our current expectations and projections
relating to our financial condition, results of operations, plans,
objectives, future performance and business. You can identify
forward-looking statements by the fact that they do not relate
strictly to historical or current facts. We do not undertake to
publicly update or revise our forward-looking statements, except as
required by law, even if experience or future changes make it clear
that any projected results expressed or implied in such statements
will not be realized. If we do update one or more forward-looking
statements, no inference should be made that we will make
additional updates with respect to those or other forward-looking
statements. All forward-looking statements are subject to risks and
uncertainties that may cause actual events or results to differ
materially from those we expected, including general economic
conditions, such as inflation, and the domestic and international
political situation and the related impact on consumer confidence
and spending; competitive factors, including the scale and
potential consolidation of some of our competitors, rise of
e-commerce spending, pricing and promotional activities of major
competitors, and an increase in competition within the markets in
which we compete; seasonal fluctuations in our net sales, operating
income and inventory levels; the reduction in traffic to, or the
closing of, the other destination retailers in the shopping areas
where our stores are located; our ability to identify changing
consumer preferences and demand; our ability to meet our
environmental, social or governance (“ESG”) goals or otherwise
expectations of our stakeholders with respect to ESG matters;
extreme and/or unseasonable weather conditions caused by climate
change or otherwise adversely impacting demand; effects of public
health crises, epidemics or pandemics; our ability to sustain our
growth plans or successfully implement our long-range strategic
plans; our ability to execute our opportunistic buying and
inventory management process; our ability to optimize our existing
stores or maintain favorable lease terms; the availability,
selection and purchasing of attractive brand name merchandise on
favorable terms; our ability to attract, train and retain quality
employees and temporary personnel in sufficient numbers; labor
costs and our ability to manage a large workforce; the solvency of
parties with whom we do business and their willingness to perform
their obligations to us; import risks, including tax and trade
policies, tariffs and government regulations; disruption in our
distribution network; our ability to protect our protect our
information systems against service interruption, misappropriation
of data, breaches of security, or other cyber-related attacks;
risks related to the methods of payment we accept; the success of
our advertising and marketing programs in generating sufficient
levels of customer traffic and awareness; damage to our corporate
reputation or brand; impact of potential loss of executives or
other key personnel; our ability to comply with existing and
changing laws, rules, regulations and local codes; lack of or
insufficient insurance coverage; issues with merchandise safety and
shrinkage; our ability to comply with increasingly rigorous privacy
and data security regulations; impact of legal and regulatory
proceedings relating to us; use of social media by us or by third
parties our direction in violation of applicable laws and
regulations; our ability to generate sufficient cash to fund our
operations and service our debt obligations; our ability to comply
with covenants in our debt agreements; the consequences of the
possible conversion of our convertible notes; our reliance on
dividends, distributions and other payments, advance and transfers
of funds from our subsidiaries to meet our obligations; the
volatility of our stock price; the impact of the anti-takeover
provisions in our governing documents; impact of potential
shareholder activism; and each of the factors that may be described
from time to time in our filings with the U.S. Securities and
Exchange Commission, including under the heading “Risk Factors” in
our most recent Annual Report on Form 10-K. For each of these
factors, the Company claims the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995, as amended.
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