Burlington Stores is planning a spring opening in the space formerly occupied by Bed Bath & Beyond in the Riverhead Centre shopping center on Old Country Road, a company spokesperson told RiverheadLOCAL Friday.
Burlington Stores, a publicly traded Fortune 500 company headquartered in New Jersey, acquired 64 Bed Bath & Beyond leases nationwide, including the lease in Riverhead, in the Bed Bath & Beyond bankruptcy proceedings last year, Burlington’s executive vice president and chief financial officer Kristin Wolfe said during the company’s earnings call in November.
The company was able to open about half of those stores in 2023 and planned to open the other half in early 2024, Wolfe said during the call.
The off-price retailer operated 977 stores in 46 states and Puerto Rico as of the end of the third quarter of fiscal year 2023 and has expansion plans that include adding about 100 “net new stores” in 2024.
The Burlington spokesperson said last week the Riverhead store will employ approximately 65-75 people.
The company is currently advertising for store management positions in Riverhead. See listing here.
Job openings will be posted at BurlingtonStores.jobs as they become available, according to the spokesperson.
Burlington currently operates six stores in Suffolk County, including locations in Patchogue, Farmingville, Stony Brook, Commack, West Babylon and Huntington, according to the company website.
The stores offer “an extensive selection of in-season, fashion-focused merchandise at up to 60% off other retailers’ prices, including women’s ready-to-wear apparel, menswear, youth apparel, baby, beauty, footwear, accessories, home, toys, gifts and coats,” according to the company website.
Burlington had net sales of $8.7 billion in fiscal year 2022. Its common stock is traded on the New York Stock Exchange under the ticker symbol “BURL.” Its share price closed at $197.82 yesterday. Burlington Stores, Inc. has a one year low of $115.66 and a one year high of $230.99, according to a Feb. 11 MarketBeat report.
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