Frank Cooper, III Resigning From the Board
BURLINGTON, N.J.--(BUSINESS WIRE)--
Burlington Stores, Inc. (NYSE:BURL), a nationally recognized off-price
retailer of high-quality, branded apparel at everyday low prices, today
announced that Frank Cooper, III resigned from the Board of Directors,
effective December 5, 2016. Mr. Cooper has joined BlackRock, Inc., and
in his new position will not be serving on public company boards. Mr.
Cooper served on Burlington’s Nominating and Corporate Governance
Committee. He joined Burlington’s Board of Directors in September 2014.
Following Mr. Cooper’s resignation, the Board will include nine members
with significant experience across the financial, retail, marketing, and
consumer products sectors, including Ted English, former President,
Chief Executive Officer and Director of The TJX Companies, Inc. and
current Executive Chairman of Bob’s Discount Furniture, Inc., who joined
the Board in November.
Tom Kingsbury, President, CEO and Chairman of the Board, stated, “I want
to thank Frank for his many contributions to the Board. His steady
guidance and wise counsel have played an important role in Burlington’s
success. While we are sorry to lose Frank, we wish him all the best in
his new role at BlackRock, Inc.”
About Burlington Stores, Inc.
Burlington Stores, Inc., headquartered in New Jersey, is a nationally
recognized off-price retailer with fiscal 2015 revenue of $5.1 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 592 stores, inclusive of an internet store, in 45 states
and Puerto Rico, principally under the name Burlington Stores, as of the
end of the third quarter of fiscal 2016. The Company’s stores offer an
extensive selection of in-season, fashion-focused merchandise at up to
65% off other retailers' prices, including women’s ready-to-wear
apparel, menswear, youth apparel, baby, beauty, footwear, accessories,
home and coats.
For more information about Burlington Stores, Inc., visit the Company's
website at www.burlingtonstores.com.
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 (Exchange Act). 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 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 results to differ materially from those we expected,
including competition in the retail industry, seasonality of our
business, adverse weather conditions, changes in consumer preferences
and consumer spending patterns, import risks, inflation, general
economic conditions, our ability to implement our strategy, our
substantial level of indebtedness and related debt-service obligations,
restrictions imposed by covenants in our debt agreements, availability
of adequate financing, our dependence on vendors for our merchandise,
events affecting the delivery of merchandise to our stores, existence of
adverse litigation and risks, availability of desirable locations on
suitable terms and other factors that may be described from time to time
in our filings with the Securities and Exchange Commission (SEC). 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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Source: Burlington Stores, Inc.