Home / Knowledge / News / Apparel/Garments / Sales at Burlington Coat Factory up 4.4%
Sales at Burlington Coat Factory up 4.4%
05
Sep '09
Burlington Coat Factory Investments Holdings, Inc. and its operating subsidiaries (the Company), a nationwide retailer based in Burlington, New Jersey, announced its results for the fiscal year ended May 30, 2009.

Net sales were $3.54 billion for the 52 week period ended May 30, 2009 (Fiscal 2009) compared with $3.39 billion for the 52 week period ended May 31, 2008 (Fiscal 2008), a 4.4% increase. The increase in net sales resulted primarily from the opening of 36 net new stores in Fiscal 2009. Comparative store sales decreased 2.5%.

Adjusted EBITDA was $294.8 million for Fiscal 2009 compared with $272.0 million for Fiscal 2008. The increase in the Company's Adjusted EBITDA of $22.8 million was the result of cost reductions realized during the last two quarters of Fiscal 2009 and sales growth from new stores. During the third and fourth quarters of Fiscal 2009, the Company reduced its cost structure in excess of $70 million.

Tom Kingsbury, President and Chief Executive Officer stated, “We are extremely pleased with our 8.4% increase in Adjusted EBITDA given the macroeconomic environment that existed during this last year. Once again, I would like to thank the entire store and corporate team for contributing to this result. As we transition into Fiscal 2010, the ongoing success of our expense reduction and inventory management initiatives provides us with significant financial flexibility. For example, our available ABL borrowing capacity is at the highest level since the Bain acquisition.”

As of September 4, 2009, the Company operates 433 stores under the names “Burlington Coat Factory Warehouse” (415 stores),“MJM Designer Shoes” (fifteen stores), “Cohoes Fashions” (two stores), and “Super Baby Depot” (one store) in 44 states and Puerto Rico.

Burlington Coat Factory is a nationally recognized retailer of high-quality, branded apparel at everyday low prices.

Burlington Coat Factory


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search