Burlington Stores, Inc. (BURL): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Burlington Stores, Inc. (BURL) ha revolucionado el panorama minorista fuera del precio con su innovador modelo de negocio que ofrece un valor incomparable a los compradores conscientes del presupuesto. Al navegar magistralmente del complejo mundo de comercialización de descuentos, Burlington ha creado una experiencia de compra única que transforma la caza del tesoro en una forma de arte. Su enfoque estratégico combina un inventario en constante cambio, una red minorista extensa y una presencia omnicanal perfecta para atraer a los consumidores de moda que buscan mercancías de marca de alta calidad a precios notablemente asequibles. Sumérgete en el intrincado lienzo de modelo de negocio que alimenta esta potencia minorista y descubre cómo Burlington se ha convertido en un destino de referencia para compradores inteligentes que buscan maximizar su poder adquisitivo.

Burlington Stores, Inc. (Burl) - Modelo de negocios: asociaciones clave

Proveedores y fabricantes de mercancías fuera del precio

Burlington mantiene asociaciones estratégicas con aproximadamente 1,200 proveedores y fabricantes a nivel mundial. En el año fiscal 2022, la compañía obtuvo mercancía de más de 40 países.

Categoría de proveedor	Número de proveedores	Porcentaje de abastecimiento total
Fabricantes nacionales	680	56.7%
Fabricantes internacionales	520	43.3%

Marcas de ropa internacionales y nacionales

Burlington se asocia con más de 500 marcas reconocidas de ropa, que incluyen:

• Calvin Klein
• Levi's
• Nike
• Ralph Lauren
• Bajo armadura

Socios del centro de logística y distribución

Ubicación del centro de distribución	Hoques cuadrados totales	Capacidad de manejo anual
Lancaster, PA	1,200,000 pies cuadrados	45 millones de unidades
Phoenix, AZ	950,000 pies cuadrados	38 millones de unidades

Empresas de envío y transporte

Burlington trabaja con los principales proveedores de envío:

• UPS: socio de envío nacional primario
• FedEx: proveedor de envío secundario
• DHL: Servicios de envío internacionales

Tecnología y proveedores de plataforma digital

Socio tecnológico	Servicio proporcionado	Valor de contrato
SAVIA	Planificación de recursos empresariales	$ 12.5 millones anuales
Oráculo	Infraestructura en la nube	$ 8.3 millones anuales

Burlington Stores, Inc. (Burl) - Modelo de negocio: actividades clave

Adquisición de mercancías minoristas con descuento

Las tiendas Burlington obtuvieron $ 5.8 mil millones en mercancías en el año fiscal 2022. La compañía obtiene productos de aproximadamente 1,000 proveedores en múltiples países.

Categoría de mercancía	Volumen de adquisiciones
Vestir	38%
Hogar	27%
Calzado	18%
Accesorios	17%

Gestión de inventario y curación

Burlington mantiene una tasa de facturación de inventario de 4.2x anualmente. La compañía opera con un Estrategia de gestión de inventario lean.

• Valor de inventario promedio de la tienda: $ 1.2 millones
• Tasa de actualización del inventario: cada 6-8 semanas
• Estrategia de Markdown: aproximadamente el 15-20% de la mercancía marcada

Operaciones de almacenamiento y servicio al cliente

A partir de 2023, Burlington opera 866 tiendas minoristas en 45 estados. El tamaño promedio de la tienda es de 38,000 pies cuadrados.

Métrica operacional	Valor
Total de las tiendas	866
Tamaño promedio de la tienda	38,000 pies cuadrados
Empleados promedio por tienda	25-30

Gestión de canales minoristas digitales y físicos

Las ventas digitales representaron el 2.5% de los ingresos totales en el año fiscal 2022, por un total de aproximadamente $ 185 millones.

• Plataforma en línea lanzada en 2019
• Tasa de crecimiento de las ventas digitales: 12% año tras año
• Descargas de aplicaciones móviles: más de 1.5 millones

Optimización de la cadena de suministro

Burlington utiliza 7 centros de distribución en los Estados Unidos, con una capacidad de red de distribución total de 7,5 millones de pies cuadrados.

Métrica de la cadena de suministro	Valor
Centros de distribución	7
Espacio de distribución total	7.5 millones de pies cuadrados
Tiempo de envío promedio	2-3 días hábiles

Burlington Stores, Inc. (Burl) - Modelo de negocio: recursos clave

Red minorista extensa

A partir de enero de 2024, Burlington opera 904 tiendas minoristas en 45 estados en los Estados Unidos. La huella de la tienda incluye:

Tipo de tienda	Número de ubicaciones
Total de tiendas minoristas	904
Tamaño promedio de la tienda	40,000 pies cuadrados

Reconocimiento de marca

Posicionamiento minorista fuera de precio con ingresos anuales de $ 9.9 mil millones en el año fiscal 2023.

Sistema de compras de inventario

• Estrategia de compra centralizada
• Relaciones directas con más de 1.200 proveedores
• Modelo de compra oportunista

Equipo de comercialización

Métrica de comercialización	Valor
Empleados totales de comercialización	27,000
Experiencia de compra promedio	8.5 años

Plataforma de comercio electrónico

Canal de ventas digitales con $ 625 millones en ingresos en línea para el año fiscal 2023.

Burlington Stores, Inc. (Burl) - Modelo de negocio: propuestas de valor

Mercancía de marca de alta calidad a precios con descuento

Descuento promedio en mercancía de marca: 40-60% de descuento en los precios minoristas originales

Categoría de mercancía	Descuento promedio	Gama de precios
Ropa de mujer	50%	$10 - $50
Ropa para hombres	45%	$12 - $55
Ropa para niños	55%	$8 - $40

Amplia gama de ropa y artículos para el hogar

Categorías de productos ofrecidas:

• Ropa para mujeres: 35% del inventario
• Ropa para hombres: 25% del inventario
• Ropa para niños: 20% del inventario
• Productos en el hogar: 15% del inventario
• Accesorios: 5% del inventario

Inventario cambiante constantemente con experiencia de compra de búsqueda de tesoros

Métricas de rotación de inventario:

Métrico	Valor
Tasa de actualización de inventario	Semanalmente
Nuevos SKU introducidos	500-750 por semana
Inventario promedio de la tienda	$ 1.2 millones

Moda asequible para consumidores conscientes del presupuesto

Análisis de precio:

• Precio promedio:
  • Tops de mujeres: $ 12- $ 25
  • Camisas para hombres: $ 15- $ 30
  • Jeans: $ 20- $ 40
  • Vestidos: $ 25- $ 50

Compras convenientes en múltiples canales

Canal de ventas	Porcentaje de ventas	Número de ubicaciones
Tiendas físicas	85%	785 tiendas
Minorista en línea	15%	Plataforma de comercio electrónico

Burlington Stores, Inc. (Burl) - Modelo de negocios: relaciones con los clientes

Modelo minorista de autoservicio

Burlington opera 857 tiendas en 46 estados a partir del año fiscal 2023. El tamaño promedio de la tienda es de aproximadamente 38,000 pies cuadrados. El modelo de autoservicio del cliente permite a los compradores navegar por la mercancía de forma independiente con una intervención mínima del personal.

Experiencia de compra personalizada en la tienda

Estrategia de personalización	Detalles de implementación
Asistencia de estilo personal	Disponible en tiendas seleccionadas durante las horas pico de compra
Sistema de recomendación de tamaño	Guía de dimensionamiento en la tienda para ropa y calzado

Atención al cliente digital

Los canales de soporte digital incluyen:

• Correo electrónico de servicio al cliente en línea
• Soporte de chat en vivo
• Asistencia al cliente de las redes sociales
• Soporte telefónico: 1-888-Check-Burlington

Programa de fidelización con recomendaciones personalizadas

Burlington actualmente no opera un programa de lealtad tradicional. Las recomendaciones de los clientes se generan a través del historial de navegación y los datos de compra anteriores.

Experiencia de compra omnicanal sin problemas

Canal	Disponibilidad
Tiendas físicas	857 ubicaciones
Sitio web en línea	Burlington.com
Aplicación móvil	Disponible en plataformas iOS y Android

Las ventas digitales totales representaron el 3.5% de las ventas netas totales en el año fiscal 2023, lo que indica un desarrollo omnicanal continuo.

Burlington Stores, Inc. (Burl) - Modelo de negocio: canales

Tiendas minoristas físicas

A partir de 2023, Burlington opera 840 tiendas minoristas fuera de precio en 45 estados en los Estados Unidos. Total de pies cuadrados minoristas: 54.1 millones de pies cuadrados. Tamaño promedio de la tienda: 64,500 pies cuadrados.

Métrico	Valor
Total de las tiendas	840
Estados cubiertos	45
Total de metros cuadrados de cuadras minoristas	54.1 millones de pies cuadrados

Sitio web de comercio electrónico

Burlington.com lanzado en 2021. Las ventas en línea representan aproximadamente el 3.5% de los ingresos totales de la compañía. Ingresos anuales en línea: $ 215 millones.

Aplicación de compras móviles

Descargas de aplicaciones móviles: 2.3 millones a partir del cuarto trimestre 2023. Aplicación disponible en plataformas iOS y Android.

Plataforma	Descargas de aplicaciones
iOS	1.1 millones
Androide	1.2 millones

Plataformas de redes sociales

• Seguidores de Instagram: 1.2 millones
• Fans de Facebook: 850,000
• Tiktok seguidores: 350,000

Mercados de terceros en línea

Las asociaciones incluyen Amazon, Walmart Marketplace y eBay. Las ventas del mercado en línea contribuyen aproximadamente al 1.7% de los ingresos totales.

Mercado	Contribución de ventas
Amazonas	0.9%
Walmart	0.5%
eBay	0.3%

Burlington Stores, Inc. (Burl) - Modelo de negocio: segmentos de clientes

Compradores conscientes del presupuesto

Burlington apunta a los consumidores sensibles a los precios con mercancía con descuento en múltiples categorías. En 2023, el cliente promedio ahorró aproximadamente 60-70% de descuento en los precios minoristas originales.

Características del segmento de clientes	Porcentaje
Ingresos anuales al hogar por debajo de $ 50,000	42%
Nivel de sensibilidad al precio	Alto
Valor de transacción promedio	$45-$65

Consumidores de moda

Burlington atrae a clientes conscientes de tendencias a través de ofertas de marca de diseñadores a precios reducidos.

• Marcas de diseñador disponibles con un 40-60% de descuento en los precios minoristas
• Tasa de actualización de mercancías trimestrales: 70%
• Rango de edad objetivo: 18-45 años

Familias que buscan ropa asequible

El segmento de clientes orientado a la familia representa una participación de mercado significativa para Burlington.

Métricas de segmento familiar	Puntos de datos
Porcentaje de compradores familiares	35%
Gasto familiar promedio por visita	$120-$180
Porcentaje de ventas de ropa para niños	25% de los ingresos totales

Adultos jóvenes y millennials

Burlington atrae a los datos demográficos más jóvenes a través de mercancías modernas y asequibles.

• Rango de edad: 18-35 años
• Tasa de participación digital: 45%
• Compras influenciadas en las redes sociales: 32%

Consumidores de bienes domiciliarios basados ​​en el valor

Burlington ofrece decoración para el hogar con descuento y artículos para el hogar.

Segmento de artículos para el hogar	Métrica
Ingresos de productos para el hogar	18% de las ventas totales
Descuento promedio en artículos en casa	55%
Categorías más populares	Ropa de cama, accesorios de cocina

Burlington Stores, Inc. (Burl) - Modelo de negocio: Estructura de costos

Gastos de adquisición de mercancías

En el año fiscal 2023, el costo total de bienes de Burlington vendidos (COGS) fue de $ 5.85 mil millones. La estrategia de adquisición de mercancías de la compañía se centra en el comercio minorista fuera de precio, lo que permite un ahorro significativo de costos.

Categoría de gastos	Cantidad (2023)	Porcentaje de ingresos
Costos de adquisición de mercancías	$ 5.85 mil millones	63.4%
Compra de inventario	$ 4.2 mil millones	45.6%

Almacenar costos operativos

Burlington incurrió en gastos operativos totales de $ 2.3 mil millones en el año fiscal 2023.

• Gastos de alquiler y ocupación: $ 612 millones
• Servicios públicos y mantenimiento: $ 187 millones
• Sobrecarga de operaciones de la tienda: $ 495 millones

Salarios y beneficios de los empleados

Los costos laborales totales para Burlington en el año fiscal 2023 fueron de $ 1.1 mil millones.

Componente de costo laboral	Cantidad
Salario total de empleados	$ 892 millones
Beneficios para empleados	$ 208 millones

Marketing y publicidad

Los gastos de marketing para Burlington en 2023 totalizaron $ 86 millones.

• Marketing digital: $ 42 millones
• Publicidad tradicional: $ 34 millones
• Campañas promocionales: $ 10 millones

Inversiones de tecnología e infraestructura

Burlington invirtió $ 145 millones en tecnología e infraestructura en el año fiscal 2023.

Categoría de inversión tecnológica	Cantidad
Plataforma de comercio electrónico	$ 62 millones
Tecnología de la cadena de suministro	$ 53 millones
Infraestructura tecnológica de almacenamiento	$ 30 millones

Burlington Stores, Inc. (Burl) - Modelo de negocio: flujos de ingresos

Venta de mercancías en la tienda

Ventas minoristas totales para las tiendas Burlington en el año fiscal 2023: $ 9.3 mil millones

Categoría de ventas	Ganancia	Porcentaje de ventas totales
Ropa de mujer	$ 2.79 mil millones	30%
Ropa para hombres	$ 1.86 mil millones	20%
Ropa para niños	$ 2.32 mil millones	25%
Calzado	$ 930 millones	10%
Accesorios	$ 744 millones	8%

Ventas minoristas en línea

Ventas en línea para Burlington en el año fiscal 2023: $ 372 millones

• Tasa de crecimiento de ventas en línea: 12.4%
• Porcentaje de ingresos totales de canales digitales: 4%

Eventos de autorización estacional

Ingresos generados por eventos de autorización en 2023: $ 1.16 mil millones

Evento estacional	Descuento promedio	Ingresos generados
Venta de fin de temporada	40-60%	$ 465 millones
Autorización de vacaciones	50-70%	$ 695 millones

Artículos para el hogar y accesorios

Ingresos de productos para el hogar en el año fiscal 2023: $ 651 millones

• Crecimiento de ventas de decoración del hogar: 8.7%
• Ingresos de accesorios para la cocina y gastronomía: $ 243 millones
• Ingresos de accesorios para ropa de cama y baño: $ 408 millones

Ofertas de categoría de productos diversificados

Desglose de ingresos de categoría de producto total para 2023

Categoría de productos	Ganancia	Porcentaje de ventas totales
Vestir	$ 6.97 mil millones	75%
Artículos para el hogar	$ 651 millones	7%
Accesorios	$ 744 millones	8%
Calzado	$ 930 millones	10%

Burlington Stores, Inc. (BURL) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Burlington Stores, Inc. over other options. It all boils down to getting a lot for less, and making the shopping trip itself part of the fun.

Extreme value is the foundation. Burlington Stores, Inc. promises in-season, high-quality branded merchandise at up to 60% off other retailers' prices. This deep discount is a primary attraction for the value-conscious shopper. The company's gross margin rate in Q1 Fiscal 2025 was reported at 43.8%, showing they manage costs well to deliver these prices.

The shopping experience is intentionally designed around the 'treasure hunt'. This comes from constantly rotating inventory, meaning what you see today might be gone tomorrow. This dynamic inventory keeps customers returning frequently to see the latest opportunistic buys. For instance, in Q3 Fiscal 2025, same-store inventories were down 2% year-over-year, supporting the lean, fresh merchandise flow.

Burlington Stores, Inc. offers a broad assortment for the entire family, moving well beyond its historical focus. The product mix now includes extensive selections of women's ready-to-wear apparel, menswear, youth apparel, baby items, beauty products, footwear, accessories, home goods, toys, gifts, and coats. To be fair, outerwear, the original focus, now accounts for less than 5% of annual sales.

The physical footprint supports a faster, more targeted shopping trip through convenient, smaller-format stores. While the average size of stores opened during Fiscal 2024 was approximately 27,000 square feet, the typical new prototype store is closer to 25,000 square feet, with some reports noting a target of just 18 KSF for newer locations. This shift away from older, sprawling big-box formats is a deliberate strategy for efficiency. As of 2025, Burlington Stores, Inc. operates a network of 1,115 stores across the United States, with plans to open approximately 100 net new stores in Fiscal 2025 alone.

Here's a quick look at how the store footprint is evolving:

Metric	Value
Total Burlington Stores (as of 2025)	1,115
New Store Prototype Size (Approximate)	25,000 square feet
Target Size for Newer Locations (Reported)	18 KSF
Net New Stores Planned for Fiscal 2025	Approximately 100
Long-Term Store Target	2,000 locations

The breadth of product categories available is key to capturing more wallet share:

• Women's ready-to-wear apparel
• Menswear
• Youth apparel and baby products
• Beauty items
• Footwear and accessories
• Home goods, toys, and gifts

The commitment to value is also reflected in their financial guidance; for Fiscal Year 2025, Burlington projects total sales growth between 7% to 8%. This growth is expected to be supported by a projected 1% to 2% comparable store sales increase.

Burlington Stores, Inc. (BURL) - Canvas Business Model: Customer Relationships

You're looking at how Burlington Stores, Inc. interacts with the people who buy from them, which is central to their off-price model. It's all about high-volume transactions driven by the thrill of the find.

Transactional and self-service model in-store

The core relationship is transactional, meaning the focus is on the immediate purchase rather than deep, personalized consultation. This model supports a massive scale, which you can see in their physical footprint and sales figures. As of the third quarter ended November 1, 2025, Burlington Stores operated 1,211 locations. This scale is built on driving frequent, quick trips. For the full fiscal year 2025, the company projected total sales growth in the range of 7% to 8%. This growth relies heavily on getting customers in and out efficiently, especially given the off-price nature where inventory turns quickly.

The company's operational performance reflects this high-volume focus. For instance, in the second quarter of 2025, comparable store sales grew by 5%. Even with a more conservative forecast for the remainder of the year, the full-year comparable store sales growth expectation was set between 1% to 2%. This means that even modest growth in existing stores, when combined with aggressive expansion, drives significant top-line results.

Here's a quick look at some key metrics that frame the customer transaction environment as of late 2025:

Metric	Value (Latest Reported/Guidance)	Period/Context
Total Store Count	1,211	End of Q3 Fiscal 2025
FY 2025 Projected Total Sales Growth	7% to 8%	Full Year Guidance
Q3 Fiscal 2025 Comparable Store Sales Growth	1%	Year-over-Year
FY 2024 Total Sales Growth	11%	Full Year Result
Net New Stores Planned for FY 2025	100	Guidance

Low-touch, high-volume interaction focused on quick checkout

The self-service nature necessitates a focus on transaction speed. While specific checkout time data isn't public, the strategy is clearly geared toward minimizing friction once a customer decides to buy. The store refresh initiative, called Store Experience 2.0, directly supports this by improving navigation. The new layout favors an open format with thoughtfully organized aisles. This design helps customers quickly locate departments and proceed to checkout, which is critical for a high-volume environment where the merchandise mix changes constantly.

The company's store expansion plans also speak to this volume focus. Burlington intends to open approximately 100 net new stores in fiscal 2025. These new locations, along with the refreshed ones, are designed to be more efficient, allowing more transactions to occur with less in-store labor dedicated to guidance and more focused on stocking and checkout support.

Loyalty programs and email marketing for deal alerts

Burlington Stores, Inc. drives repeat visits through alerts about their constantly changing assortment of deals, which is the primary mechanism replacing a traditional, points-based loyalty program for many shoppers. The off-price model relies on the customer's desire to check back frequently for new markdowns. Still, general retail data shows the power of formalizing these relationships. For example, 84% of consumers report being more likely to shop brands that have loyalty programs. Furthermore, customers enrolled in loyalty programs typically spend 12%-18% more than unenrolled customers.

Email marketing serves as the digital extension of the in-store treasure hunt. It's used to push alerts on new arrivals and special promotions, keeping the brand top-of-mind. To be fair, the success of this digital outreach is tied to the customer's perception of value; 90% of consumers say they are more likely to purchase more from companies that understand their buying preferences.

Refreshed in-store experience to enhance convenience and inspiration

The 'Store Experience 2.0' is a major investment in the physical relationship. As of August 2025, Burlington reported that more than 50% of its fleet of 1,115 stores had already been converted to the new format. The goal is to complete the transition for the remaining locations by the end of 2026.

The design elements are specifically aimed at improving the customer journey:

• Thoughtfully organized aisles for easier navigation.
• An open layout to enhance convenience.
• Bold signage to spark ideas and showcase trends.
• All future new stores will feature the updated branding and a smaller, more efficient layout.

The CEO noted that customer feedback on the redesigned stores has been overwhelmingly positive. To celebrate this rollout, the company hosted special events in 21 major markets from August 15-17, featuring sweepstakes and giveaways. This shows a direct, albeit temporary, effort to drive traffic and create excitement around the improved physical space.

Burlington Stores, Inc. (BURL) - Canvas Business Model: Channels

You're looking at how Burlington Stores, Inc. gets its product into the hands of customers, and honestly, it's still overwhelmingly about the physical box.

Primary channel: The core of the business is the physical off-price retail stores. As of mid-2025, Burlington Stores, Inc. operated a robust network of approximately 1,150 Burlington stores across the United States, covering 46 states, Washington D.C., and Puerto Rico. The company's strategy heavily favors this physical footprint, evidenced by plans to open approximately 100 net-new stores in fiscal year 2025.

This physical presence is geographically concentrated in key markets. Here's a look at the top states by store count as of July 2025:

State / Territory	Number of Stores	Percentage of Total Stores (Approx.)
Texas	135	12%
Florida	123	11%
California	116	10%
New York	71
New Jersey	53

The capital allocation clearly supports this physical focus; for instance, approximately $950 million in capital expenditures was planned for these 100 net new stores in fiscal year 2025.

Secondary channel: The corporate website, www.burlington.com, serves primarily as a support tool for the physical locations. You use it mainly for finding a store near you or getting basic company information.

Limited e-commerce presence: Burlington Stores, Inc. maintains a deliberate focus on the in-store experience over a broad digital sales channel. While competitors might push online sales hard, Burlington's strategy keeps capital investment weighted toward enhancing the brick-and-mortar treasure-hunt experience.

Digital marketing and social media: Digital efforts are geared toward pulling customers into the stores. For example, in the third quarter of fiscal 2025, comparable store sales grew by 1.0% year-over-year, showing the importance of driving foot traffic. The company uses its digital presence to support this traffic goal, which is critical given that total sales grew 7% year-over-year in Q3 2025.

The channel mix supports the overall value proposition:

• Physical stores offer the constantly changing assortment of branded goods at deep discounts.
• The store count reached over 1,100 locations by early 2025.
• The fall 2025 expansion included plans for 60 new locations across 26 states.
• The website functions as a store locator, not a primary revenue driver.

Finance: draft 13-week cash view by Friday.

Burlington Stores, Inc. (BURL) - Canvas Business Model: Customer Segments

Burlington Stores, Inc. targets customers whose primary driver is value, seeking branded merchandise at significant markdowns from traditional department and specialty stores.

The core customer base is characterized by a broad demographic, heavily weighted toward middle-to-lower income families who prioritize price and brand accessibility.

• Value-conscious shoppers seeking deep discounts on branded goods.
• Trade-down shoppers moving from full-price to off-price retail.
• Customers seeking apparel, home goods, and accessories.

The financial performance in late 2025 reflects the success in attracting this segment, evidenced by the 7% year-over-year total sales increase in the third quarter of Fiscal 2025, reaching $2.71 billion. This growth is supported by an expanding physical footprint, with 1,211 locations as of the end of the third quarter of Fiscal 2025.

The product mix directly serves the stated customer needs for a wide variety of goods:

Product Category	Fiscal 2024 Sales Percentage
Accessories and shoes	27%
Ladies apparel	21%
Home	20%
Mens apparel	17%
Kids apparel and baby	12%
Outerwear	3%

The focus on off-price retail is a direct appeal to the trade-down shopper, a trend supported by the company raising its full-year Adjusted EPS guidance to a range of $9.69 to $9.89 for Fiscal 2025. The company's trailing twelve-month revenue reached $11 billion as of the second quarter of Fiscal 2025. The customer's value orientation is also reflected in the company's margin discipline, with the Q3 Fiscal 2025 gross margin rate at 44.2%.

The appeal to a broad, value-seeking demographic is further evidenced by the company's aggressive expansion plans, targeting the opening of 104 net new stores in Fiscal 2025, building upon the 1,108 stores operated in Fiscal 2024. The company reaffirmed its long-term goal of achieving roughly $1.6 billion in operating income by fiscal 2028, which relies on continued customer acquisition across its growing store base.

For the second quarter of Fiscal 2025, the total sales growth was 10% year-over-year, with comparable store sales increasing by 5%, showing strong existing customer engagement. The third quarter of Fiscal 2025 saw comparable store sales increase by 1%, indicating continued, albeit slower, traffic from this core segment.

Burlington Stores, Inc. (BURL) - Canvas Business Model: Cost Structure

The cost structure for Burlington Stores, Inc. is heavily influenced by the cost of merchandise acquisition and the significant investment required for its physical footprint expansion under the Burlington 2.0 strategy.

Cost of Goods Sold (COGS) is the primary expense component. For the third quarter of Fiscal 2025, the Gross Margin rate as a percentage of net sales reached 44.2%, up 30 basis points from 43.9% in the third quarter of Fiscal 2024. This margin improvement was driven by a 10-basis-point expansion in merchandise margin and a 20-basis-point improvement in freight expense. The cost of sales, which is the inverse of gross margin, was reported at 55.8% of total revenue in Q3 2025.

Capital expenditures are substantial to support the aggressive store growth targets. Burlington projected capital expenditures, net of landlord allowances, to be approximately $950 million for Fiscal Year 2025. This investment underpins the plan to open approximately 104 net new stores in 2025.

Store operating costs are captured within Selling, General, and Administrative (SG&A) expenses. In Q3 2025, SG&A expenses leveraged 20 basis points compared with the prior year. Adjusted SG&A expenses as a percentage of net sales declined by 40 basis points in the same period.

Supply chain and distribution center expenses are a key area of focus for cost efficiency under the Burlington 2.0 strategy. Product sourcing costs, which include processing and buying expenses, were $214 million in Q3 2025, representing a decrease of 40 basis points as a percentage of net sales.

Here is a snapshot of key cost-related financial metrics from the third quarter of Fiscal 2025:

Cost Metric	Amount/Rate	Context/Period
Gross Margin Rate	44.2%	Q3 FY 2025
Cost of Sales (% of Revenue)	55.8%	Q3 FY 2025
Product Sourcing Costs	$214 million	Q3 FY 2025
Product Sourcing Costs Leverage	40 basis points decrease	Q3 FY 2025 vs. prior year
Freight Expense Improvement	20 basis points	Q3 FY 2025 vs. prior year
SG&A Leverage	20 basis points	Q3 FY 2025 vs. prior year
Projected FY 2025 Capital Expenditures	Approx. $950 million	FY 2025 Guidance
Net New Stores Planned	104	FY 2025 Target

The Burlington 2.0 strategy emphasizes structural cost control through logistics modernization. Key elements driving these cost dynamics include:

• Investment in new, larger, and more automated distribution centers.
• Focus on owning distribution facilities rather than leasing them.
• A goal to achieve 100 basis points of product sourcing leverage over a five-year plan.
• Plans to open 110 net new stores in 2026.

Burlington Stores, Inc. (BURL) - Canvas Business Model: Revenue Streams

The core of Burlington Stores, Inc. revenue generation is the primary revenue from the sale of discounted merchandise in physical stores. You should note that over 99% of net sales are derived from stores operated as Burlington Stores. As of the third quarter of Fiscal 2025, the company operated 1,211 stores. For context, Fiscal 2024 net sales were $10,634.8 million.

Looking at the full-year Fiscal 2025 outlook, the guidance projected total sales to increase by approximately 8% on top of the 11% increase achieved for the 52-weeks ended February 1, 2025. The trailing twelve-month revenue as of late 2025 was reported at $11.01 Billion USD.

This expected sales growth is supported by two key drivers. The company assumed comparable store sales growth of 1% to 2% for the full Fiscal Year 2025. Furthermore, growth is being fueled by physical expansion, with guidance to open approximately 104 net new stores for Fiscal 2025.

Here's a quick look at the key components driving the top line for the period:

• Full-Year Fiscal 2025 Total Sales Growth Guidance: Approximately 8% increase.
• Comparable Store Sales Growth Assumption (FY2025): Range of 1% to 2%.
• Net New Stores Planned (FY2025): Approximately 104.
• Q3 Fiscal 2025 Comparable Store Sales Growth: 1%.

Beyond merchandise sales, Burlington Stores, Inc. captures incremental revenue through financial services and stored value instruments. While gift card sales figures aren't isolated, the private label credit card program contributes measurable amounts, primarily through service fees and rental income. Here are the reported figures related to the Private Label Credit Card (PLCC) program from the prior fiscal year, which informs the current model:

Revenue Component (Fiscal Year Ended Feb 1, 2025)	Amount (in thousands)
PLCC Service fees	$3,928
PLCC Subleased rental income and other	$9,041
Total PLCC Revenue	$5,111

The Total PLCC Revenue for the period ending February 1, 2025, was $5,111 thousand.