Burlington Stores, Inc. (Burl): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Burlington Stores, Inc. (BURL) revolucionou o cenário de varejo fora do preço com seu modelo de negócios inovador que oferece valor incomparável aos compradores conscientes do orçamento. Ao navegar magistralmente no complexo mundo de merchandising com desconto, Burlington criou uma experiência de compra única que transforma a caça ao tesouro em uma forma de arte. Sua abordagem estratégica combina um inventário em constante mudança, uma extensa rede de varejo e presença de omnichannel contínua para atrair consumidores de moda que buscam mercadorias de marca de alta qualidade a preços notavelmente acessíveis. Mergulhe na intrincada tela do modelo de negócios que alimenta essa potência de varejo e descubra como Burlington se tornou um destino preferido para os compradores experientes que desejam maximizar seu poder de compra.

Burlington Stores, Inc. (Burl) - Modelo de negócios: Parcerias -chave

Fornecedores e fabricantes de mercadorias fora do preço

Burlington mantém parcerias estratégicas com aproximadamente 1.200 fornecedores e fabricantes em todo o mundo. No ano fiscal de 2022, a empresa adquiriu mercadorias de mais de 40 países.

Categoria de fornecedores	Número de fornecedores	Porcentagem de fornecimento total
Fabricantes domésticos	680	56.7%
Fabricantes internacionais	520	43.3%

Marcas de vestuário internacional e doméstico

Burlington faz parceria com mais de 500 marcas reconhecidas de vestuário, incluindo:

• Calvin Klein
• Levi's
• Nike
• Ralph Lauren
• Under Armour

Parceiros do centro de logística e distribuição

Localização do centro de distribuição	Mágua quadrada total	Capacidade de manuseio anual
Lancaster, PA	1.200.000 pés quadrados	45 milhões de unidades
Phoenix, AZ	950.000 pés quadrados	38 milhões de unidades

Empresas de transporte e transporte

Burlington trabalha com os principais provedores de remessa:

• UPS: parceiro de remessa doméstica primária
• FedEx: provedor de remessa secundária
• DHL: Serviços de envio internacional

Fornecedores de tecnologia e plataforma digital

Parceiro de tecnologia	Serviço prestado	Valor do contrato
SEIVA	Planejamento de recursos corporativos	US $ 12,5 milhões anualmente
Oráculo	Infraestrutura em nuvem	US $ 8,3 milhões anualmente

Burlington Stores, Inc. (Burl) - Modelo de negócios: Atividades -chave

Com desconto de compras de mercadorias de varejo

As lojas de Burlington adquiriram US $ 5,8 bilhões em mercadorias no ano fiscal de 2022. A empresa obtém produtos de aproximadamente 1.000 fornecedores em vários países.

Categoria de mercadorias	Volume de compras
Vestuário	38%
Lar	27%
Calçados	18%
Acessórios	17%

Gerenciamento de inventário e curadoria

Burlington mantém uma taxa de rotatividade de inventário de 4,2x anualmente. A empresa opera com um estratégia de gerenciamento de inventário enxuto.

• Valor médio de inventário da loja: US $ 1,2 milhão
• Taxa de atualização de inventário: a cada 6-8 semanas
• Estratégia de marcação: aproximadamente 15-20% das mercadorias marcadas

Operações da loja e atendimento ao cliente

A partir de 2023, Burlington opera 866 lojas em 45 estados. O tamanho médio da loja é de 38.000 pés quadrados.

Métrica operacional	Valor
Total de lojas	866
Tamanho médio da loja	38.000 pés quadrados
Funcionários médios por loja	25-30

Gerenciamento de canais de varejo digital e físico

As vendas digitais representaram 2,5% da receita total no ano fiscal de 2022, totalizando aproximadamente US $ 185 milhões.

• Plataforma online lançada em 2019
• Taxa de crescimento de vendas digitais: 12% ano a ano
• Downloads de aplicativos móveis: mais de 1,5 milhão

Otimização da cadeia de suprimentos

Burlington utiliza 7 centros de distribuição nos Estados Unidos, com uma capacidade total de rede de distribuição de 7,5 milhões de pés quadrados.

Métrica da cadeia de suprimentos	Valor
Centros de distribuição	7
Espaço total de distribuição	7,5 milhões de pés quadrados
Tempo médio de envio	2-3 dias úteis

Burlington Stores, Inc. (Burl) - Modelo de negócios: Recursos -chave

Extensa rede de varejo

Em janeiro de 2024, Burlington opera 904 lojas de varejo em 45 estados nos Estados Unidos. A pegada da loja inclui:

Tipo de loja	Número de locais
Total de lojas de varejo	904
Tamanho médio da loja	40.000 pés quadrados

Reconhecimento da marca

Posicionamento de varejo fora do preço com receita anual de US $ 9,9 bilhões no ano fiscal de 2023.

Sistema de compra de inventário

• Estratégia de compra centralizada
• Relacionamentos diretos com mais de 1.200 fornecedores
• Modelo de compra oportunista

Equipe de merchandising

Métrica de merchandising	Valor
Total de funcionários de merchandising	27,000
Experiência de compra média	8,5 anos

Plataforma de comércio eletrônico

Canal de vendas digital com US $ 625 milhões em receita on -line para o ano fiscal de 2023.

Burlington Stores, Inc. (Burl) - Modelo de Negócios: Proposições de Valor

Mercadorias da marca de alta qualidade a preços descontados

Desconto médio em mercadorias da marca: 40-60% de desconto nos preços originais do varejo

Categoria de mercadorias	Desconto médio	Faixa de preço
Roupas femininas	50%	$10 - $50
Roupas masculinas	45%	$12 - $55
Roupas infantis	55%	$8 - $40

Ampla gama de roupas e artigos domésticos

Categorias de produtos oferecidas:

• Vestuário feminino: 35% do inventário
• Vestuário masculino: 25% do inventário
• Vestuário infantil: 20% do inventário
• Bens domésticos: 15% do inventário
• Acessórios: 5% do inventário

Inventário constantemente mudando com experiência de compra de caça ao tesouro

Métricas de rotatividade de inventário:

Métrica	Valor
Taxa de atualização de inventário	Semanalmente
Novos SKUs introduzidos	500-750 por semana
Inventário médio da loja	US $ 1,2 milhão

Moda acessível para consumidores conscientes do orçamento

Análise de preços:

• Preços médios:
  • Tops femininos: US $ 12 a US $ 25
  • Camisas masculinas: US $ 15 a US $ 30
  • Jeans: US $ 20- $ 40
  • Vestidos: US $ 25 a US $ 50

Compras convenientes em vários canais

Canal de vendas	Porcentagem de vendas	Número de locais
Lojas físicas	85%	785 lojas
Varejo online	15%	Plataforma de comércio eletrônico

Burlington Stores, Inc. (Burl) - Modelo de Negócios: Relacionamentos do Cliente

Modelo de varejo de autoatendimento

Burlington opera 857 lojas em 46 estados a partir do ano fiscal de 2023. O tamanho médio da loja é de aproximadamente 38.000 pés quadrados. O modelo de autoatendimento do cliente permite que os compradores procurem mercadorias de forma independente com o mínimo de intervenção da equipe.

Experiência de compra personalizada na loja

Estratégia de personalização	Detalhes da implementação
Assistência de estilo pessoal	Disponível em lojas selecionadas durante o horário de pico de compra
Sistema de recomendação de tamanho	Orientação de dimensionamento na loja para vestuário e calçados

Suporte ao cliente digital

Os canais de suporte digital incluem:

• Email de atendimento ao cliente online
• Suporte ao bate -papo ao vivo
• Assistência ao cliente de mídia social
• Suporte telefônico: 1-888-check-Burlington

Programa de fidelidade com recomendações personalizadas

Burlington atualmente não opera um programa de fidelidade tradicional. As recomendações dos clientes são geradas através do histórico de navegação e dados anteriores de compra.

Experiência de compra omnichannel perfeita

Canal	Disponibilidade
Lojas físicas	857 locais
Site online	Burlington.com
Aplicativo móvel	Disponível em plataformas iOS e Android

As vendas digitais totais representaram 3,5% do total de vendas líquidas no ano fiscal de 2023, indicando o desenvolvimento em andamento omnichannel.

Burlington Stores, Inc. (Burl) - Modelo de Negócios: Canais

Lojas de varejo físico

A partir de 2023, Burlington opera 840 lojas de varejo fora do preço em 45 estados nos Estados Unidos. Mágua quadrada total de varejo: 54,1 milhões de pés quadrados. Tamanho médio da loja: 64.500 pés quadrados.

Métrica	Valor
Total de lojas	840
Estados cobertos	45
Quadra quadrada total de varejo	54,1 milhões de pés quadrados

Site de comércio eletrônico

O Burlington.com foi lançado em 2021. As vendas on -line representam aproximadamente 3,5% da receita total da empresa. Receita on -line anual: US $ 215 milhões.

Aplicativo de compra móvel

Downloads de aplicativos móveis: 2,3 milhões a partir do quarto trimestre 2023. App disponível em plataformas iOS e Android.

Plataforma	Downloads de aplicativos
iOS	1,1 milhão
Android	1,2 milhão

Plataformas de mídia social

• Seguidores do Instagram: 1,2 milhão
• Fãs do Facebook: 850.000
• TIKTOK seguidores: 350.000

Mercados on-line de terceiros

As parcerias incluem Amazon, Walmart Marketplace e eBay. As vendas do mercado on -line contribuem com aproximadamente 1,7% da receita total.

Marketplace	Contribuição de vendas
Amazon	0.9%
Walmart	0.5%
eBay	0.3%

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

Compradores conscientes do orçamento

Burlington tem como alvo os consumidores sensíveis ao preço com mercadorias com desconto em várias categorias. Em 2023, o cliente médio economizou aproximadamente 60-70% de desconto nos preços de varejo originais.

Características do segmento de clientes	Percentagem
Renda familiar anual abaixo de US $ 50.000	42%
Nível de sensibilidade ao preço	Alto
Valor médio da transação	$45-$65

Consumidores de moda

Burlington atrai clientes preocupados com a tendência por meio de ofertas de marcas de designers a preços reduzidos.

• Marcas de designers disponíveis a 40-60% de desconto nos preços de varejo
• Taxa de atualização trimestral de mercadorias: 70%
• Faixa etária-alvo: 18-45 anos

Famílias que buscam roupas acessíveis

O segmento de clientes orientado para a família representa uma participação de mercado significativa para Burlington.

Métricas de segmento familiar	Pontos de dados
Porcentagem de compradores de família	35%
Gasto familiar médio por visita	$120-$180
Porcentagem de vendas de roupas infantis	25% da receita total

Jovens adultos e millennials

Burlington atrai a demografia mais jovem por meio de mercadorias modernas e acessíveis.

• Faixa etária: 18-35 anos
• Taxa de engajamento digital: 45%
• As mídias sociais influenciaram as compras: 32%

Consumidores de bens domésticos orientados por valor

Burlington oferece decoração de casa com desconto e itens domésticos.

Segmento de bens domésticos	Métricas
Receita de bens domésticos	18% do total de vendas
Desconto médio em itens domésticos	55%
Categorias mais populares	Bedding, acessórios de cozinha

Burlington Stores, Inc. (Burl) - Modelo de negócios: estrutura de custos

Despesas de compras de mercadorias

No ano fiscal de 2023, o custo total de mercadorias de Burlington foi vendido (COGS) de US $ 5,85 bilhões. A estratégia de compras de mercadorias da empresa se concentra no varejo fora do preço, o que permite uma economia significativa de custos.

Categoria de despesa	Valor (2023)	Porcentagem de receita
Custos de compras de mercadorias	US $ 5,85 bilhões	63.4%
Compra de estoque	US $ 4,2 bilhões	45.6%

Armazenar custos operacionais

Burlington sofreu despesas operacionais totais de US $ 2,3 bilhões no ano fiscal de 2023.

• Despesas de aluguel e ocupação: US $ 612 milhões
• Utilitários e manutenção: US $ 187 milhões
• Operações de loja Operações de sobrecarga: US $ 495 milhões

Salários e benefícios dos funcionários

Os custos totais de mão -de -obra para Burlington no ano fiscal de 2023 foram de US $ 1,1 bilhão.

Componente de custo da mão -de -obra	Quantia
Salários totais dos funcionários	US $ 892 milhões
Benefícios dos funcionários	US $ 208 milhões

Marketing e publicidade

As despesas de marketing para Burlington em 2023 totalizaram US $ 86 milhões.

• Marketing Digital: US $ 42 milhões
• Publicidade tradicional: US $ 34 milhões
• Campanhas promocionais: US $ 10 milhões

Investimentos de tecnologia e infraestrutura

Burlington investiu US $ 145 milhões em tecnologia e infraestrutura no ano fiscal de 2023.

Categoria de investimento em tecnologia	Quantia
Plataforma de comércio eletrônico	US $ 62 milhões
Tecnologia da cadeia de suprimentos	US $ 53 milhões
Infraestrutura de tecnologia da loja	US $ 30 milhões

Burlington Stores, Inc. (Burl) - Modelo de negócios: fluxos de receita

Vendas de mercadorias na loja

Vendas totais no varejo para as lojas de Burlington no ano fiscal de 2023: US $ 9,3 bilhões

Categoria de vendas	Receita	Porcentagem de vendas totais
Vestuário feminino	US $ 2,79 bilhões	30%
Vestuário masculino	US $ 1,86 bilhão	20%
Vestuário infantil	US $ 2,32 bilhões	25%
Calçados	US $ 930 milhões	10%
Acessórios	US $ 744 milhões	8%

Vendas de varejo on -line

Vendas on -line para Burlington no ano fiscal de 2023: US $ 372 milhões

• Taxa de crescimento de vendas on -line: 12,4%
• Porcentagem da receita total dos canais digitais: 4%

Eventos de liberação sazonal

Receita gerada a partir de eventos de liberação em 2023: US $ 1,16 bilhão

Evento sazonal	Desconto médio	Receita gerada
Fim da venda da temporada	40-60%	US $ 465 milhões
Liberação de férias	50-70%	US $ 695 milhões

Bens e acessórios domésticos

Receita de bens domésticos no ano fiscal de 2023: US $ 651 milhões

• Crescimento das vendas de decoração de casa: 8,7%
• Receita de acessórios de cozinha e jantar: US $ 243 milhões
• Receita de cama e acessórios de banho: US $ 408 milhões

Ofertas diversificadas de categoria de produto

Recutação total da receita da categoria de produto para 2023

Categoria de produto	Receita	Porcentagem de vendas totais
Vestuário	US $ 6,97 bilhões	75%
Bens domésticos	US $ 651 milhões	7%
Acessórios	US $ 744 milhões	8%
Calçados	US $ 930 milhões	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.