Burlington Stores is a national off-price retailer selling branded, fashion-focused apparel, accessories, footwear, beauty, and home merchandise at prices it claims are up to 60% below other retailers. Burlington operates 1,212 physical stores across 46 states, D.C., and Puerto Rico, with over 99% of sales coming from stores; its website primarily drives foot traffic rather than serving as a direct sales channel. Burlington's core business model involves buying branded merchandise opportunistically — primarily in-season — at below-market prices, then selling to value-oriented customers while maintaining a meaningful markup spread. Key margin drivers include inventory turn speed (faster turns reduce markdowns), merchandise margin, and SG&A leverage as the store base grows. Burlington's long-term growth strategy targets 2,000 total stores, opening roughly 100–110 net new stores per year, while also relocating and downsizing older large-format locations into smaller (~27,000–28,000 sq ft) strip center stores. Burlington is also pursuing comp sales growth through its Burlington 2.0 program, which includes upgraded merchandising systems, store experience remodels, and an "elevation strategy" to improve brand quality and fashion content. Burlington's long-range plan targets approximately $16B in total sales and ~$1.6B in operating income by FY2028, with ~400 bps of operating margin expansion targeted from a combination of fixed cost leverage and self-help initiatives in merchandising and supply chain productivity.