Burlington Coat Q4 sales & earnings guidance drop

08 Jun '07

2 min read

Burlington Coat Factory Warehouse Corporation announced that net sales from continuing operations for the fourth quarter ended June 2, 2007 (13 weeks) were $774.5 million compared with $819.0 million for the fourth quarter ended June 3, 2006 (14 weeks), a 5.4% decrease.

The Company's fiscal year ended June 3, 2006 was a fifty three week year. As a result, each of the first three fiscal quarters in this 2007 fiscal year began and ended one week later than the corresponding period of the prior fiscal year and the fourth fiscal quarter begun one week later and ended the same week as last year.

For the thirteen weeks ended June 2, 2007 compared with the thirteen weeks ended June 3, 2006, net sales increased $13.9 million. These results reflect a 2.9% comparative store sales decrease for the quarter.

March comparative store sales increased 5.3%, April comparative store sales decreased 14.0% and May comparative store sales decreased 2.3%, compared with the same periods last year. Cold weather throughout most of the United States in April impacted sales, and an earlier Easter season shifted sales from April to March this year.

Net sales from continuing operations for the twelve months ended June 2, 2007 (52 weeks) were $3.403 billion compared with $3.439 billion for the twelve month period ended June 3, 2006 (53 weeks), a 1.0% decrease.

These results reflect a 2.2% comparative store sales decrease for the twelve-month period. Net sales for the fifty two weeks ended June 2, 2007, compared with the fifty two weeks ended June 3, 2006, increased $14.8 million.

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