Burlington Stores, a national off-price retailer that operates under the Burlington Coat Factory, Cohoes Fashions and MJM Designer Shoes brands, announced terms for its IPO on Thursday. The Burlington, NJ-based company plans to raise $200 million by offering 13.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Burlington Stores would command a fully diluted market value of $1.13 billion.
Burlington Stores, which was founded in 1972 and booked $4.35 billion in sales for the 12 months ended August 3, 2013, plans to list on the NYSE under the symbol BURL. J.P. Morgan, Morgan Stanley, BofA Merrill Lynch, Wells Fargo Securities and Goldman Sachs are the joint bookrunners on the deal.
