Burlington Stores, Inc. Releases 2020 Corporate Social Responsibility Report

Rhea-AI Summary

Burlington Stores, Inc. (NYSE: BURL) released its third annual Corporate Social Responsibility (CSR) Report, highlighting significant progress in Environmental, Social, and Governance (ESG) initiatives for fiscal year 2020. Key achievements include a 44% reduction in Scope 1 and 2 greenhouse gas emissions, installation of a rooftop solar array expected to produce 7.7 million kilowatt-hours of electricity annually, and the creation of a Senior Vice President of Inclusion and Diversity position. The company aims to strengthen community partnerships and prioritize diversity, contributing to its long-term resilience and sustainability.

Positive

• Reduced Scope 1 and 2 greenhouse gas emissions by 44% and 38% per dollar of sales since 2016.
• Installed a rooftop solar array expected to generate 7.7 million KWh annually.
• Developed a new 25,000 square foot store prototype aimed at lower energy consumption.
• Created a Senior Vice President of Inclusion and Diversity position.
• Achieved 91% associate satisfaction regarding diversity acceptance.
• Ranked among Best Workplaces for Women for four consecutive years.
• Diversity Action Plan included a $1M donation to social justice organizations.

Negative

• None.

BURLINGTON, N.J., Aug. 23, 2021 (GLOBE NEWSWIRE) -- Burlington Stores, Inc. (NYSE: BURL), a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, today released its third annual Corporate Social Responsibility Report. This report highlights the important progress the Company has made across its Environmental, Social and Governance initiatives during the fiscal year 2020.

Michael O’Sullivan, CEO, stated, “Our third annual CSR report demonstrates our commitment to build a more resilient and sustainable company. I am grateful for the incredible work our associates all over the country did to persevere through a global pandemic, social and political unrest, and unprecedented economic conditions. I am proud of how Burlington responded to these events, within our company and our communities, to respond to each new challenge and become better for it. The events of last year have accelerated a much-needed conversation about racial equality and social justice, which we must continue to prioritize as we move forward. In addition, environmental impacts due to a rapidly changing climate necessitate that every business, including Burlington, examine how we can be a part of enabling a more sustainable global economy.”

Mr. O’Sullivan continued, “I am proud that we did not just survive the tumultuous events of 2020, but we continued to push forward in our corporate responsibility strategy. Our 2020 CSR demonstrates the progress we made on key ESG initiatives. We have a purposeful commitment to corporate responsibility, and know we have more work to do. We will strive to make thoughtful, incremental and continuous progress on our ESG initiatives in the years to come. This commitment should make us a stronger company, while delivering value for our associates, our communities, and our shareholders.”

Highlights in the CSR report include:

• Reduced our Scope 1 and 2 greenhouse gas (GHG) emissions per operating square foot and per dollar of sales revenue by 44% and 38%, respectively, since our baseline year of 2016
• Installed a rooftop solar array at our new California distribution center in 2020. The 4.594 megawatts (MW) array went live in July of 2021 and is expected to produce about 7,685,000 kilowatt-hours (KWh) of electricity annually – the equivalent of taking over one thousand cars off the road for a year
• Developed our new 25,000 square foot store prototype, which is expected to enable leaner inventory, reduced resources and lower energy consumption compared to the older 40,000 square foot store size
• Created and filled the position of Senior Vice President of Inclusion and Diversity to further leverage Inclusion and Diversity to support Burlington’s growth
• Completed our 2020 Corporate Associate Engagement Survey which showed 91% of our Associates believe Burlington makes it easy for people from diverse backgrounds to fit in and be accepted
• Ranked Best Workplaces for Women list for the fourth consecutive year
• Continued our efforts to diversify our team - 75% of our workforce now self-identifies as Female, and 76% as a Person of Color.  Also published and implemented a Diversity Action Plan, including a $1M donation to organizations dedicated to advancing social justice and racial equality
  
  
• Strengthened our community partnerships – celebrated our 19th year of partnership with The Leukemia & Lymphoma Society, and our 4^th consecutive year of support for AdoptAClassroom.org. Through customer donations at point of sale, Burlington raised more than $5.5 million for these non-profit organizations, as well as continued to help keep those in need warm throughout the country with our 14^th Annual Burlington Coat Drive
  

To learn more about our corporate responsibility efforts and view our full 2020 Corporate Social Responsibility report, please visit our investor relations website at https://www.burlingtoninvestors.com/corporate-social-responsibility.

About Burlington Stores, Inc.

Burlington Stores, Inc., headquartered in New Jersey, is a nationally recognized off-price retailer with Fiscal 2020 net sales of $5.8 billion. The Company is a Fortune 500 company and its common stock is traded on the New York Stock Exchange under the ticker symbol “BURL.” The Company operated 784 stores as of the end of the first quarter of Fiscal 2021 in 45 states and Puerto Rico, principally under the name Burlington Stores. The Company’s 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.

For more information about the Company, visit www.burlington.com.

Investor Relations Contacts:
David J. Glick
Daniel Delrosario
855-973-8445
Info@BurlingtonInvestors.com

Allison Malkin
ICR, Inc.
203-682-8225

Safe Harbor for Forward-Looking and Cautionary Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act). All statements other than statements of historical fact included in this release are forward-looking statements. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. We do not undertake to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied in such statements will not be realized. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including those described from time to time in our filings with the Securities and Exchange Commission. For each of these factors, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended.

FAQ

What are the key highlights from Burlington's 2020 CSR report?

Burlington's 2020 CSR report highlights include a 44% reduction in greenhouse gas emissions, a new solar array, a focus on diversity with a new executive position, and significant community contributions.

How much did Burlington reduce its greenhouse gas emissions?

Burlington reduced its Scope 1 and 2 greenhouse gas emissions by 44% per operating square foot and 38% per dollar of sales since the baseline year of 2016.

What sustainability initiatives has Burlington implemented?

Burlington installed a solar array in California expected to produce 7.7 million kilowatt-hours of electricity annually and developed a new energy-efficient store prototype.

What is Burlington's approach to diversity and inclusion?

Burlington created a Senior Vice President of Inclusion and Diversity position and reported that 91% of associates feel accepted regardless of their background.

How much did Burlington donate to social justice organizations?

Burlington donated $1 million as part of its Diversity Action Plan to organizations focused on advancing social justice and racial equality.