Fact Check: Burlington's Retail Revenue Relies on 15% from Canadian Visitors
What We Know
The claim that Burlington's retail revenue relies on 15% from Canadian visitors has been referenced in various contexts, particularly in discussions about local businesses and tourism. According to a report from the Burlington Free Press, the Burlington City Council noted that a significant portion of summer business, over 15%, is derived from Canadian tourists. This assertion aligns with a broader sentiment expressed in local news outlets, indicating that Canadian visitors contribute notably to the retail economy in Burlington, Vermont, particularly during peak tourist seasons (CTV News).
However, it is crucial to differentiate between Burlington, Vermont, and Burlington, New Jersey, where Burlington Stores, Inc. is headquartered. The financial reports from Burlington Stores, Inc. do not provide specific data on revenue contributions from Canadian visitors, focusing instead on overall sales and financial performance (Burlington Stores Inc--Form 10-K).
Analysis
The claim's validity hinges on the context of Burlington, Vermont, versus Burlington, New Jersey. The references to Canadian visitors contributing 15% to retail revenue appear to be specific to Burlington, Vermont, as discussed in local news articles (CTV News, Burlington Free Press). These sources are credible as they come from established news organizations reporting on local government discussions and community impacts.
On the other hand, the financial data from Burlington Stores, Inc. does not mention Canadian visitors at all, focusing instead on overall revenue figures, which totaled approximately $4.46 billion for the fiscal year ended February 1, 2014 (Burlington Stores Inc--Form 10-K). This absence of specific data regarding Canadian contributions to revenue in the corporate filings raises questions about the applicability of the claim to Burlington Stores, Inc. itself.
The reliability of the sources discussing Canadian visitor contributions is generally high, as they are based on statements from local government officials and supported by community observations. However, the lack of detailed financial breakdowns in the corporate filings means that while the claim may hold true for Burlington, Vermont, it does not necessarily apply to Burlington Stores, Inc. in New Jersey.
Conclusion
Needs Research. The claim that Burlington's retail revenue relies on 15% from Canadian visitors appears to be accurate in the context of Burlington, Vermont, but lacks supporting evidence when applied to Burlington Stores, Inc. in New Jersey. Further research is needed to clarify the distinctions between the two locations and to gather more precise data on the impact of Canadian visitors on Burlington Stores, Inc.'s revenue.
