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 Ted English, former President, Chief Executive Officer
and Director of The TJX Companies, Inc. and current Executive Chairman
of Bob’s Discount Furniture, Inc., is joining its Board of Directors,
effective November 15, 2016. With Mr. English’s appointment, the
Burlington Stores Board is comprised of 10 directors, nine of whom are
Tom Kingsbury, Chairman, President and Chief Executive Officer stated,
“Ted is a highly accomplished business leader whose 30 years of retail
experience is a strong complement to the financial, retail, marketing,
and consumer products expertise that is currently represented on the
Burlington Board. In addition to providing further off-price experience,
we believe the insights Ted has gained from leading a premier discount
home furnishings company and serving on the Board of a multi-segment
online discount retailer will benefit Burlington as we expand our own
offerings into home, beauty and ladies apparel. We are confident that
Ted will be a great addition to the Burlington Stores Board, and we look
forward to benefitting from his contributions.”
Mr. English added, “This is an exciting time of growth and opportunity
for Burlington Stores. The Company’s strong record of performance has
been widely acknowledged across the retail industry, and there is
significant potential for continued growth through expanding into
underpenetrated segments and opening new stores while maintaining
financial discipline. I look forward to collaborating with the
Burlington Stores’ Board of Directors and management team to capitalize
on new and existing opportunities and build on the Company’s value
creation for shareholders.”
About Ted English
Mr. English has served as the Executive Chairman of the Board of
Directors of Bob’s Discount Furniture since March 2016 and was its Chief
Executive Officer from 2006 until his appointment as Executive Chairman.
Prior to joining Bob’s Discount Furniture, Mr. English served as TJX’s
Chief Executive Officer from 2000 (and President from 1999) to 2005.
Mr. English was Chairman of The Marmaxx Group between 2000 and 2004, and
held various other executive and merchandising positions with TJX from
1983 to 1999.
In addition to Burlington Stores and Bob’s Discount Furniture, Mr.
English serves on the Board of Directors of Rue La La, an e-commerce
destination connecting world-class brands with next generation shoppers.
He previously served as a director of BJ’s Wholesale Club, Inc. Mr.
English also serves on the Board of Trustees of various funds within the
multi-affiliate structure of Natixis Global Asset Management, a global
asset management firm.
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 the Company, visit 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.