Home / Knowledge / News / Apparel/Garments / Comparative store sales drop at Burlington Coat
Comparative store sales drop at Burlington Coat
16
Dec '10
Burlington Coat Factory Investments Holdings Inc and its operating subsidiaries, a nationwide retailer based in Burlington, New Jersey, announced its operating results for the third quarter ended October 30, 2010.

Year to Date Fiscal 2010 Operating Results

Net sales increased 3.3% to $2,481.6 million for the nine months ended October 30, 2010 compared with $2,403.4 million for the nine months ended October 31, 2009. Comparative store sales decreased 0.8%.

Primarily driven by increased net sales, adjusted EBITDA increased $8.1 million, or 5.8%, to $149.3 million for the nine months ended October 30, 2010 from $141.2 million during the prior year.

Third Quarter Fiscal 2010 Operating Results

Net sales were $858.2 million for the three months ended October 30, 2010 compared with $872.4 million for the three months ended October 31, 2009, a 1.6% decrease. Comparative store sales decreased 5.6% as a result of unusually warm weather in September and October.

Adjusted EBITDA for the three months ended October 30, 2010 was $63.2 million compared with $79.7 million for the three months ended October 31, 2009. The decrease in our Adjusted EBITDA was primarily driven by a decrease in comparative store sales and planned increases in both markdowns and shrink expense. In addition, Adjusted EBITDA was negatively impacted by $4.0 million of net expenses related to new store openings, partially offset by comparative store and corporate expense reductions.

Tom Kingsbury, President and Chief Executive Officer, stated, “Following our third quarter performance, as the temperatures returned to normal seasonal levels in November, we are very pleased with the level of comparative store sales that we have achieved. We continue to believe we are well positioned for the remainder of the year. I would like to thank our store and corporate teams for contributing to our year to date 3.3% increase in net sales and our 5.8% increase in Adjusted EBITDA versus the prior period.”

As previously reported, in order to conform to the predominant fiscal calendar used within the retail industry, we changed our fiscal year from a fiscal year comprised of the twelve consecutive fiscal months ending on the Saturday closest to May 31 to a fiscal year comprised of the twelve consecutive fiscal months ending on the Saturday closest to January 31. As a result of this change and the seasonality of the Company's business, the Company recast its prior quarterly interim financial information on the basis of the new fiscal year for comparative purposes.

Burlington Coat Factory


Must ReadView All

Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews

Textiles | On 20th Oct 2017

Turkish group Taypa to build textile factory in Serbia

Turkish textile group Taypa will invest euro 35 million ($41.2...

China’s textile & apparel exports rise 4.3% in Sept ’17

Textiles | On 20th Oct 2017

China’s textile & apparel exports rise 4.3% in Sept ’17

Registering an increase of 4.3 per cent year-on-year, the exports of...

Courtesy: Messe Frankfurt

Textiles | On 20th Oct 2017

Heimtextil to focus on textile solutions for architects

Heimtextil 2018, world's leading trade fair for home and contract...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Mike Hoffman
Gildan Activewear SRL

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts 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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


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