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Monroe Milsten, Founder of Burlington Coat Factory, Dies at 98
Burlington Coat Factory exterior. Photo: Flickr
Monroe Milstein, the enterprising businessman who transformed a modest New Jersey coat store into the national retail powerhouse Burlington Coat Factory, passed away earlier this month at the age of 98 from dementia.
Monroe Gerald Milstein was born on Jan. 14, 1927, in the Bronx, New York, to his mother, Ann Milstein, and father, Abe Milstein — founder of Amherst Fashions. When Monroe was 11, the family moved to Manhattan. He graduated from DeWitt Clinton High School in the Bronx and earned a bachelor’s degree in business from New York University in 1946.
In 1949, Milstein married Henrietta Haas, an elementary school teacher who had fled the Holocaust. Henrietta later played an integral role in shaping Burlington’s children wear division. She passed away in 2001.
In 1972, Milstein and his wife purchased a defunct factory in Burlington, New Jersey, for $675,000 with the goal of transforming it into a retail destination. The venture became Burlington Coat Factory, selling discounted designer and brand-name coats for women, men, and children. Eventually, the store’s offerings grew to include home linens, menswear, baby clothes, and shoes, laying the foundation for a nationwide retail empire.
Three years after the initial purchase, Burlington Coat Factory opened its second location in Copiague, Long Island. According to Family Business Magazine, Milstein’s eldest son, Lazar, was the store manager and, as an Orthodox Jew, would not open the store on Saturdays, the Jewish Sabbath.
In 1982, Milstein shut down Burlington’s wholesale operations and reoriented the company’s focus entirely to discount retail. Just a year later, in 1983, he took the company public when it operated only 32 stores — injecting the capital needed to fuel a rapid retail expansion.
In 2006, Bain Capital bought the company for $2.06 billion, with the Milstein family cashing out its stake for $1.3 billion. Milstein exited the business., and two of his sons, Andrew and Stephen, continued in executive positions for a period. The company returned to the public market in 2013.
“I’m a very average fella,” Milstein said on his 80th birthday regarding his business ventures. “I got lucky.”
During Milstein’s tenure, Burlington Coat Factory carved out a niche in the retail world by delivering brand-name goods at significant discounts. By the early 2000s, when he transitioned out of day-to-day management, the business had evolved into a national chain with hundreds of stores and a customer base numbering in the millions annually.
Burlington has grown to become the third-largest off-price retail chain in the US, following industry leaders TJX Companies (which operates TJ Maxx and Marshalls) and Ross Stores. Today, Burlington operates around 1,100 locations across the US, raking in roughly $10.6 billion in sales over the past 12 months.
He is survived by his children, grandchildren, and great-grandchildren, many of whom continue to carry forward his values of hard work and integrity.
The post Monroe Milsten, Founder of Burlington Coat Factory, Dies at 98 first appeared on Algemeiner.com.
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Putin Speaks to Trump, Condemns Israel’s Strikes on Iran, Kremlin Says
Russian President Vladimir Putin and Iranian President Masoud Pezeshkian meet in Moscow, Russia, Jan. 17, 2025. Photo: REUTERS/Evgenia Novozhenina
Russian President Vladimir Putin spoke to US President Donald Trump for 50 minutes on Saturday, condemning the Israeli military operation against Iran and expressing concern about the risks of escalation, the Kremlin said.
“Vladimir Putin condemned Israel’s military operation against Iran and expressed serious concern about a possible escalation of the conflict, which would have unpredictable consequences for the entire situation in the Middle East,” Kremlin aide Yuri Ushakov told reporters.
Trump, for his part, described events in the Middle East as “very alarming,” according to Ushakov. But the two leaders said they do not rule out a return to the negotiating track on Iran’s nuclear program, Ushakov said.
On Ukraine, Putin told the US leader that Russia was ready to continue negotiations with the Ukrainians after June 22, according to state news agency RIA.
Trump reiterated his interest in a speedy resolution to the conflict, the Kremlin aide said.
Putin also congratulated Trump on his 79th birthday.
The post Putin Speaks to Trump, Condemns Israel’s Strikes on Iran, Kremlin Says first appeared on Algemeiner.com.
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Sunday’s US-Iran Nuclear Talks Cancelled, Oman Says
FILE PHOTO: Oman’s Foreign Minister Sayyid Badr bin Hamad bin Hamood Albusaidi attends a meeting with Russia’s Foreign Minister Sergei Lavrov in Moscow, Russia July 11, 2023. Photo: Natalia Kolesnikova/Pool via REUTERS/File Photo
The latest round of US-Iran nuclear talks scheduled for Sunday in Muscat will not take place, Omani Foreign Minister Badr Albusaidi said on X on Saturday. Oman has been mediating the talks.
Albusaidi’s statement came a day after Israel launched a sweeping air offensive against Iran, killing commanders and scientists and bombing nuclear sites in a stated bid to stop it building an atomic weapon.
A senior official of US President Donald Trump’s administration, speaking on condition of anonymity, confirmed Sunday’s talks had been cancelled.
Washington, however, remained committed to the negotiations and hoped “the Iranians will come to the table soon,” the official said.
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Iran Says Talks with US ‘Meaningless’ After Israel Attack, But Yet to Decide on Attending
USA and Iranian flags are seen in this illustration taken, Sept. 8, 2022. Photo: REUTERS/Dado Ruvic/Illustration
Iran said the dialogue with the US over Tehran’s nuclear program is “meaningless” after Israel’s biggest-ever military strike against its longstanding enemy, but said it is yet to decide on whether to attend planned talks on Sunday.
“The other side (the US) acted in a way that makes dialogue meaningless. You cannot claim to negotiate and at the same time divide work by allowing the Zionist regime (Israel) to target Iran’s territory,” state media on Saturday quoted foreign ministry spokesperson Esmaeil Baghaei as saying.
“It is still unclear what decision we will make on Sunday in this regard,” Baghaei was quoted as saying.
He said Israel “succeeded in influencing” the diplomatic process and the Israeli attack would not have happened without Washington’s permission, accusing Washington of supporting the attack.
Iran earlier accused the US of being complicit in Israel’s attacks, but Washington denied the allegation and told Tehran at the United Nations Security Council that it would be “wise” to negotiate over its nuclear program.
The sixth round of US-Iran nuclear talks was set to be held on Sunday in Muscat, but it was unclear whether it would go ahead after the Israeli strikes.
Iran denies that its uranium enrichment program is for anything other than civilian purposes, rejecting Israeli allegations that it is secretly developing nuclear weapons.
US President Donald Trump told Reuters that he and his team had known the Israeli attacks were coming but they still saw room for an accord.
The post Iran Says Talks with US ‘Meaningless’ After Israel Attack, But Yet to Decide on Attending first appeared on Algemeiner.com.
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