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Burlington Coat receives outstanding support from vendor community
20 Apr '11
2 min read
Burlington Coat Factory Investments Holdings Inc and its operating subsidiaries, a nationwide retailer based in Burlington, New Jersey, announced its operating results for the fiscal year ended January 29, 2011 (Fiscal 2010).
• Fourth quarter comparative store sales increased 1.2%
• Total Sales during Fiscal 2010 increased 4.2%
• Adjusted EBITDA for Fiscal 2010 increased 10.2% to $338.1 million versus $306.8 million during the 52 weeks ended January 30, 2010.
• Net Income of $31.0 million during Fiscal 2010 increased $46.2 million from a loss of $15.2 million last year.
Operating results for The fiscal year ended January 29, 2011
Net sales increased 4.2% to $3,669.6 million during Fiscal 2010 compared with $3,522.9 million for the 52 weeks ended January 30, 2010. Comparative store sales decreased 0.2%.
Primarily driven by increased net sales and higher margins, Adjusted EBITDA increased $31.3 million, or 10.2%, to $338.1 million during Fiscal 2010 from $306.8 million during the prior year.
Tom Kingsbury, President and Chief Executive Officer stated, “We were very pleased with our 10.2% increase in Adjusted EBITDA during the year which was driven by our 4.2% overall sales growth. I would like to thank our store and corporate teams for contributing to these results. We believe the progress that we are making on our top three priorities; merchandise content, the store experience and receipt management, in addition to the outstanding support we are receiving from the vendor community, has us well positioned for 2011.”
As of April 18, 2011, the Company operates 462 stores under the names “Burlington Coat Factory Warehouse” (447 stores), “MJM Designer Shoes” (13 stores), and “Cohoes Fashions” (two stores) in 44 states and Puerto Rico.
• Fourth quarter comparative store sales increased 1.2%
• Total Sales during Fiscal 2010 increased 4.2%
• Adjusted EBITDA for Fiscal 2010 increased 10.2% to $338.1 million versus $306.8 million during the 52 weeks ended January 30, 2010.
• Net Income of $31.0 million during Fiscal 2010 increased $46.2 million from a loss of $15.2 million last year.
Operating results for The fiscal year ended January 29, 2011
Net sales increased 4.2% to $3,669.6 million during Fiscal 2010 compared with $3,522.9 million for the 52 weeks ended January 30, 2010. Comparative store sales decreased 0.2%.
Primarily driven by increased net sales and higher margins, Adjusted EBITDA increased $31.3 million, or 10.2%, to $338.1 million during Fiscal 2010 from $306.8 million during the prior year.
Tom Kingsbury, President and Chief Executive Officer stated, “We were very pleased with our 10.2% increase in Adjusted EBITDA during the year which was driven by our 4.2% overall sales growth. I would like to thank our store and corporate teams for contributing to these results. We believe the progress that we are making on our top three priorities; merchandise content, the store experience and receipt management, in addition to the outstanding support we are receiving from the vendor community, has us well positioned for 2011.”
As of April 18, 2011, the Company operates 462 stores under the names “Burlington Coat Factory Warehouse” (447 stores), “MJM Designer Shoes” (13 stores), and “Cohoes Fashions” (two stores) in 44 states and Puerto Rico.
Burlington Coat Factory Investments Holdings Inc
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