St. Louis Business Journal: Burlington to open at $54 million St. Peters development

St. Louis Business Journal: Burlington to open at $54 million St. Peters development

Burlington Stores (NYSE: BURL) will open a 40,731-square-foot location at The Shoppes at Mid Rivers in St. Peters this fall.

The St. Peters location will mark the company’s sixth store in the St. Louis metro area. Burlington, formerly known as Burlington Coat Factory, has stores in Chesterfield, Kirkwood, Hazelwood, Bevo Mill and Fairview Heights, Illinois. About 50-100 employees will be hired at the new location.

Tennessee-based GBT Realty Group is developing the 28-acre, $54 million Shoppes at Mid Rivers. GBT officials estimate the development will generate about $3.5 million annually in local taxes, according to previous Business Journal reports, and the city of St. Peters is providing incentives worth up to $10 million. Knoebel Construction of Chesterfield is the contractor on the development.

Two-thirds of all consumers shop at off-price retailers like Burlington, according to a July 2016 report by The NPD Group. T.J. Maxx is considered the leader in the retail segment, with over 1,000 stores just in the U.S. Parent company, TJX Companies, reported $33.2 billion in revenue for fiscal 2017.

Burlington reported fiscal 2016 revenue of $5.5 billion, a 9.2 percent increase from the year before. Burlington has nearly 600 stores across the country.

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