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Positive sales growth at Burlington Coat Factory
15
Sep '11
Burlington Coat Factory Investments Holdings, Inc. and its operating subsidiaries, a nationwide retailer based in Burlington, New Jersey, announced its results for the second quarter and year to date ended July 30, 2011.

Second Quarter Fiscal 2011 Operating Results
Comparative store sales increased 4.0% and total net sales increased 8.9% to $793.3 million for the three months ended July 30, 2011 compared with last year.

Adjusted EBITDA for the three months ended July 30, 2011 increased $15.3 million or 196.2% to $23.1 million compared with $7.8 million for the three months ended July 31, 2010. The increase in the Company's Adjusted EBITDA of $15.3 million was driven by the increase in sales, a 50 basis point increase in gross margin, and improved SG&A expense leverage.

Year to Date Fiscal 2011 Operating Results
Comparative store sales increased 2.1%. Total net sales increased 6.1% to $1,722.4 million for the six months ended July 30, 2011 compared with last year.

Adjusted EBITDA increased $17.4 million, or 20.2%, to $103.5 million for the six months ended July 30, 2011 compared with last year. The increase in the Company's Adjusted EBITDA of $17.4 million was primarily driven by our increased sales, and our improved expense leverage. We plan to invest more heavily in our operations in the third quarter to continue to improve execution during the fall season.

Tom Kingsbury, President and Chief Executive Officer stated, “We are extremely pleased with our 196.2% increase in Adjusted EBITDA, which was driven by our 8.9% overall sales growth and, most importantly, our 4.0% comparative store sales increase. This marks our fifth quarter out of the last six with a positive comparative store increase. I would like to thank our store and corporate teams for contributing to this result.”

Burlington Coat Factory is a nationally recognized retailer of high-quality, branded apparel at everyday low prices. The Company currently serves its customers through its 462 stores in 44 states and Puerto Rico.

Burlington Coat Factory Investments Holdings Inc


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