Burlington Coat Factory Reports Third Quarter Sales
Burlington Coat Factory Warehouse Corporation announced today that net sales for the third quarter ended October 27, 2012 were $967.8 million compared with $898.7 million for the comparative period ended October 29, 2011, a 7.7% increase. Comparative store sales increased 2.1% for the quarter.
Net sales for the nine months ended October 27, 2012 were $2.814 billion compared with $2.621 billion for the comparative period ended October 29, 2011, a 7.4% increase. These results reflect a 1.8% comparative store sales increase for the period.
Tom Kingsbury, Chief Executive Officer, stated, “I am pleased with our 7.7% total sales increase and 2.1% comparative store sales increase for the quarter. We continue to be very pleased with our inventory management which once again has resulted in reduced comparative store inventories, faster inventory turns and reduced aged goods. In addition, as we move into the all important fourth quarter we are excited about our liquidity and the level of fresh receipts that we are planning on delivering to our customers.”
As of October 27, 2012, the Company operated 497 stores in 44 states and Puerto Rico, principally under the name “Burlington Coat Factory.”
Statements made in this press release that are forward looking (within the meaning of the Private Securities Litigation Reform Act of 1995) are not historical facts and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: general economic conditions; consumer demand; consumer preferences; weather patterns; competitive factors, including pricing and promotional activities of major competitors; the availability of desirable store locations on suitable terms; the availability, selection and purchasing of attractive merchandise on favorable terms; import risks; the Company's ability to control costs and expenses; unforeseen computer related problems; any unforeseen material loss or casualty; the effect of inflation; and other factors that may be described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied will not be realized.
Burlington Coat Factory Warehouse Corporation
Robert L. LaPenta, Jr.
Vice President – Treasurer
609-387-7800, ext. 1216