| Cover | 12 Months Ended |
| Feb. 03, 2024 | |
| Document Information [Line Items] | |
| Document Type | PRE 14A |
| Amendment Flag | false |
| Entity Information [Line Items] | |
| Entity Registrant Name | BURLINGTON STORES, INC. |
| Entity Central Index Key | 0001579298 |
| Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |||
| Feb. 03, 2024 | Jan. 28, 2023 | Jan. 29, 2022 | Jan. 30, 2021 | |
| Pay vs Performance Disclosure | ||||
| Pay vs Performance Disclosure, Table | Pay Versus Performance Pursuant to Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, non-PEO Value of Initial Fixed $100 Investment Based On: (4) Year (1) Summary ($)(2) Compensation ($)(3) Average Non-PEO ($)(2) Average Non-PEO ($)(3) Total ($) Peer Group ($)(5) Net Income ($) (in Adjusted EBIT 2023 13,858,983 17,084,260 4,082,541 4,280,552 90.68 141.23 339,649 596,219 2022 12,825,904 2,839,170 4,837,190 4,954,782 104.10 124.59 230,123 430,334 2021 13,867,435 10,280,616 4,863,897 3,201,969 105.90 114.78 408,839 801,712 2020 9,560,206 17,049,041 3,713,938 4,283,347 114.45 106.22 (216,499 ) (282,847 ) (1) Mr. O’Sullivan served as the Company’s principal executive officer for the entirety of fiscal 2020, 2021 2022 and 2023, and the Company’s other NEOs for the applicable years were as follows: - 2023: Kristin Wolfe; Jennifer Vecchio; Travis Marquette; Matthew Pasch; and Michael Allison. - 2022: Kristin Wolfe; Jennifer Vecchio; Travis Marquette; Michael Allison; and John Crimmins. - 2021: John Crimmins; Jennifer Vecchio; Travis Marquette; Michael Allison; Mike Metheny; and Fred Hand. - 2020: John Crimmins; Jennifer Vecchio; Fred Hand; and Joyce Manning Magrini. (2) Amounts reported in this column represent (i) the total compensation reported in the Summary Compensation Table for the applicable year in the case of Mr. O’Sullivan and (ii) the average of the total compensation reported in the Summary Compensation Table for the applicable year for the Company’s other NEOs reported for the applicable year. (3) To calculate “compensation actually paid,” adjustments were made to the amounts reported in the Summary Compensation Table for the applicable year. A reconciliation of the adjustments for Mr. O’Sullivan and for the average of the other NEOs is set forth following the footnotes to this table. (4) Pursuant to rules of the SEC, the comparison assumes $100 was invested on February 1, 2020. Historic stock price performance is not necessarily indicative of future stock price performance. (5) The TSR Peer Group consists of the Dow Jones Apparel Retailers Index, an independently prepared index that includes companies in the retail industry. (6) In accordance with SEC rules, we are required to describe the relationship between “compensation actually paid” to our CEO and to our other NEOs and our net income. However, our incentive plans do not link “compensation actually paid” to our executive officers and our net income. Therefore, changes in “compensation actually paid” to our executive officers may not necessarily correlate to changes in our net income. (7) As noted in the CD&A, Adjusted EBIT is a core driver of our performance and success, as it measures profitability, reflects management efforts to manage expenses, and further aligns our NEOs’ interests with our stockholders’ interests. Adjusted EBIT is defined as net income, exclusive of the following items, if applicable: (i) interest expense; (ii) interest income; (iii) loss on extinguishment of debt; (iv) income tax expense; (v) impairment charges; (vi) net favorable lease costs; (vii) costs related to debt amendments; (viii) amounts related to certain litigation matters; and (ix) other unusual or non-recurring Compensation Actually Paid Adjustments (MINUS) PLUS PLUS/(MINUS) PLUS PLUS/(MINUS) (MINUS) EQUALS Year Summary Grant Date Fair Value at Fiscal Year-End Change in Fair Fair Value at Change in Fair Value Fair Value as of Prior Year-End Compensation Michael O’Sullivan 2023 13,858,983 (10,221,632 ) 14,971,860 (625,065 ) — (899,886) — 17,084,260 2022 12,825,904 (9,749,425 ) 10,553,849 (4,230,176 ) — (6,560,982) — 2,839,170 2021 13,867,435 (8,514,967 ) 5,454,134 (4,148,989 ) — 3,623,003 — 10,280,616 2020 9,560,206 (8,512,040 ) 12,661,431 3,947,107 — (607,663) — 17,049,041 Other NEOs (Average) (h) 2023 4,082,541 (2,560,156 ) 3,457,459 (247,207 ) 112,034 (497,699) (66,420) 4,280,552 2022 4,837,190 (3,117,644 ) 4,028,855 (411,675 ) — (381,944) — 4,954,782 2021 4,863,897 (2,900,883 ) 1,816,041 (421,337 ) — 940,057 (1,095,806) 3,201,969 2020 3,713,938 (2,139,882 ) 3,051,308 883,866 — (1,225,883) — 4,283,347 (a) Represents Total Compensation as reported in the Summary Compensation Table for the indicated fiscal year. With respect to the other NEOs, amounts shown represent averages. (b) Represents the grant date fair value of the stock option and stock awards granted during the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and as reflected in the Summary Compensation Table for the applicable year. (c) Represents the fair value as of the indicated fiscal year-end (d) Represents the change in fair value during the indicated fiscal year of each option award and stock award that was granted in a prior fiscal year and that remained outstanding and unvested as of the last day of the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year. (e) Amounts reported in this column represent equity awards granted to Mr. Allison in fiscal 2023 and which vested in fiscal 2023 in accordance with the termination vesting provisions set forth in the award agreements. (f) Represents the change in fair value, measured from the prior fiscal year-end (g) Represents the fair value as of the last day of the prior fiscal year of the option award and stock awards that were granted in a prior fiscal year and which failed to meet the applicable vesting conditions in the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the prior fiscal year. (h) See footnote 1 above for the NEOs included in the average for each year. | |||
| Company Selected Measure Name | Adjusted EBIT | |||
| Named Executive Officers, Footnote | (1) Mr. O’Sullivan served as the Company’s principal executive officer for the entirety of fiscal 2020, 2021 2022 and 2023, and the Company’s other NEOs for the applicable years were as follows: - 2023: Kristin Wolfe; Jennifer Vecchio; Travis Marquette; Matthew Pasch; and Michael Allison. - 2022: Kristin Wolfe; Jennifer Vecchio; Travis Marquette; Michael Allison; and John Crimmins. - 2021: John Crimmins; Jennifer Vecchio; Travis Marquette; Michael Allison; Mike Metheny; and Fred Hand. - 2020: John Crimmins; Jennifer Vecchio; Fred Hand; and Joyce Manning Magrini. | |||
| Peer Group Issuers, Footnote | The TSR Peer Group consists of the Dow Jones Apparel Retailers Index, an independently prepared index that includes companies in the retail industry. | |||
| PEO Total Compensation Amount | $ 13,858,983 | $ 12,825,904 | $ 13,867,435 | $ 9,560,206 |
| PEO Actually Paid Compensation Amount | $ 17,084,260 | 2,839,170 | 10,280,616 | 17,049,041 |
| Adjustment To PEO Compensation, Footnote | Compensation Actually Paid Adjustments (MINUS) PLUS PLUS/(MINUS) PLUS PLUS/(MINUS) (MINUS) EQUALS Year Summary Grant Date Fair Value at Fiscal Year-End Change in Fair Fair Value at Change in Fair Value Fair Value as of Prior Year-End Compensation Michael O’Sullivan 2023 13,858,983 (10,221,632 ) 14,971,860 (625,065 ) — (899,886) — 17,084,260 2022 12,825,904 (9,749,425 ) 10,553,849 (4,230,176 ) — (6,560,982) — 2,839,170 2021 13,867,435 (8,514,967 ) 5,454,134 (4,148,989 ) — 3,623,003 — 10,280,616 2020 9,560,206 (8,512,040 ) 12,661,431 3,947,107 — (607,663) — 17,049,041 Other NEOs (Average) (h) 2023 4,082,541 (2,560,156 ) 3,457,459 (247,207 ) 112,034 (497,699) (66,420) 4,280,552 2022 4,837,190 (3,117,644 ) 4,028,855 (411,675 ) — (381,944) — 4,954,782 2021 4,863,897 (2,900,883 ) 1,816,041 (421,337 ) — 940,057 (1,095,806) 3,201,969 2020 3,713,938 (2,139,882 ) 3,051,308 883,866 — (1,225,883) — 4,283,347 (a) Represents Total Compensation as reported in the Summary Compensation Table for the indicated fiscal year. With respect to the other NEOs, amounts shown represent averages. (b) Represents the grant date fair value of the stock option and stock awards granted during the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and as reflected in the Summary Compensation Table for the applicable year. (c) Represents the fair value as of the indicated fiscal year-end (d) Represents the change in fair value during the indicated fiscal year of each option award and stock award that was granted in a prior fiscal year and that remained outstanding and unvested as of the last day of the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year. (e) Amounts reported in this column represent equity awards granted to Mr. Allison in fiscal 2023 and which vested in fiscal 2023 in accordance with the termination vesting provisions set forth in the award agreements. (f) Represents the change in fair value, measured from the prior fiscal year-end (g) Represents the fair value as of the last day of the prior fiscal year of the option award and stock awards that were granted in a prior fiscal year and which failed to meet the applicable vesting conditions in the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the prior fiscal year. (h) See footnote 1 above for the NEOs included in the average for each year. | |||
| Non-PEO NEO Average Total Compensation Amount | $ 4,082,541 | 4,837,190 | 4,863,897 | 3,713,938 |
| Non-PEO NEO Average Compensation Actually Paid Amount | $ 4,280,552 | 4,954,782 | 3,201,969 | 4,283,347 |
| Adjustment to Non-PEO NEO Compensation Footnote | Compensation Actually Paid Adjustments (MINUS) PLUS PLUS/(MINUS) PLUS PLUS/(MINUS) (MINUS) EQUALS Year Summary Grant Date Fair Value at Fiscal Year-End Change in Fair Fair Value at Change in Fair Value Fair Value as of Prior Year-End Compensation Michael O’Sullivan 2023 13,858,983 (10,221,632 ) 14,971,860 (625,065 ) — (899,886) — 17,084,260 2022 12,825,904 (9,749,425 ) 10,553,849 (4,230,176 ) — (6,560,982) — 2,839,170 2021 13,867,435 (8,514,967 ) 5,454,134 (4,148,989 ) — 3,623,003 — 10,280,616 2020 9,560,206 (8,512,040 ) 12,661,431 3,947,107 — (607,663) — 17,049,041 Other NEOs (Average) (h) 2023 4,082,541 (2,560,156 ) 3,457,459 (247,207 ) 112,034 (497,699) (66,420) 4,280,552 2022 4,837,190 (3,117,644 ) 4,028,855 (411,675 ) — (381,944) — 4,954,782 2021 4,863,897 (2,900,883 ) 1,816,041 (421,337 ) — 940,057 (1,095,806) 3,201,969 2020 3,713,938 (2,139,882 ) 3,051,308 883,866 — (1,225,883) — 4,283,347 (a) Represents Total Compensation as reported in the Summary Compensation Table for the indicated fiscal year. With respect to the other NEOs, amounts shown represent averages. (b) Represents the grant date fair value of the stock option and stock awards granted during the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and as reflected in the Summary Compensation Table for the applicable year. (c) Represents the fair value as of the indicated fiscal year-end (d) Represents the change in fair value during the indicated fiscal year of each option award and stock award that was granted in a prior fiscal year and that remained outstanding and unvested as of the last day of the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year. (e) Amounts reported in this column represent equity awards granted to Mr. Allison in fiscal 2023 and which vested in fiscal 2023 in accordance with the termination vesting provisions set forth in the award agreements. (f) Represents the change in fair value, measured from the prior fiscal year-end (g) Represents the fair value as of the last day of the prior fiscal year of the option award and stock awards that were granted in a prior fiscal year and which failed to meet the applicable vesting conditions in the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the prior fiscal year. (h) See footnote 1 above for the NEOs included in the average for each year. | |||
| Compensation Actually Paid vs. Total Shareholder Return | ||||
| Compensation Actually Paid vs. Net Income | ||||
| Compensation Actually Paid vs. Company Selected Measure | ||||
| Total Shareholder Return Vs Peer Group | ||||
| Tabular List, Table | Performance Measures Used to Link Company Performance and Compensation Actually Paid to the NEOs The following is a list of financial performance measures, which in our assessment represent the most important financial performance measures used by the Company to link “compensation actually paid” to the NEOs for fiscal 2023. Please see the CD&A for a further description of these metrics and how they are used in the Company’s executive compensation program, including the Annual Incentive Plan and 2023 PSUs. • Adjusted EBIT • Adjusted EPS Growth • Stock price | |||
| Total Shareholder Return Amount | $ 90.68 | 104.1 | 105.9 | 114.45 |
| Peer Group Total Shareholder Return Amount | 141.23 | 124.59 | 114.78 | 106.22 |
| Net Income (Loss) | $ 339,649,000 | $ 230,123,000 | $ 408,839,000 | $ (216,499,000) |
| Company Selected Measure Amount | 596,219,000 | 430,334,000 | 801,712,000 | (282,847,000) |
| PEO Name | Mr. O’Sullivan | |||
| Measure:: 1 | ||||
| Pay vs Performance Disclosure | ||||
| Name | Adjusted EBIT | |||
| Measure:: 2 | ||||
| Pay vs Performance Disclosure | ||||
| Name | Adjusted EPS Growth | |||
| Measure:: 3 | ||||
| Pay vs Performance Disclosure | ||||
| Name | Stock price | |||
| PEO | Grant Date Fair Value Of Stock Option And Stock Awards Granted In Fiscal Year [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | $ (10,221,632) | $ (9,749,425) | $ (8,514,967) | $ (8,512,040) |
| PEO | Fair Value At Fiscal Yearend Of Outstanding And Unvested Stock Option And Stock Awards Granted In Fiscal Year [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | 14,971,860 | 10,553,849 | 5,454,134 | 12,661,431 |
| PEO | Change In Fair Value Of Outstanding And Unvested Stock Option And Stock Awards Granted In Prior Fiscal Years [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | (625,065) | (4,230,176) | (4,148,989) | 3,947,107 |
| PEO | Change In Fair Value As Of Vesting Date Of Stock Option And Stock Awards Granted In Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | (899,886) | (6,560,982) | 3,623,003 | (607,663) |
| Non-PEO NEO | Grant Date Fair Value Of Stock Option And Stock Awards Granted In Fiscal Year [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | (2,560,156) | (3,117,644) | (2,900,883) | (2,139,882) |
| Non-PEO NEO | Fair Value At Fiscal Yearend Of Outstanding And Unvested Stock Option And Stock Awards Granted In Fiscal Year [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | 3,457,459 | 4,028,855 | 1,816,041 | 3,051,308 |
| Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Stock Option And Stock Awards Granted In Prior Fiscal Years [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | (247,207) | (411,675) | (421,337) | 883,866 |
| Non-PEO NEO | Fair Value At Vesting Of Stock Option And Stock Awards Granted In Fiscal Year That Vested During Fiscal Year [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | 112,034 | |||
| Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Stock Option And Stock Awards Granted In Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | (497,699) | $ (381,944) | 940,057 | $ (1,225,883) |
| Non-PEO NEO | Fair Value As Of Prior Fiscal Yearend Of Stock Option And Stock Awards Granted In Prior Fiscal Years That Failed To Meet Applicable Vesting Conditions During Fiscal Year [Member] | ||||
| Pay vs Performance Disclosure | ||||
| Adjustment to Compensation, Amount | $ (66,420) | $ (1,095,806) | ||
