Two Burlington Coat Factory stores and one Luxury Linens store were closed during the first six months of the current fiscal year.
The Company also has three Burlington Coat Factory stores that remain temporarily closed due to damage caused by Hurricanes Katrina and Wilma.
Two of these stores are located in New Orleans and the other store is located in southern Florida.
The Company has not yet determined when these stores will reopen.
The Company anticipates opening an additional Burlington Coat Factory store during the remainder of the current fiscal year.
In addition, two stores are expected to be relocated to new locations within the same trading market.
For the five weeks ended December 31, 2005, total sales were $595.3 million, an 8.8 percent increase over the comparative period of the prior year, including a comparative store sales increase of 7.5 percent.
During the second quarter of fiscal 2006, the Company recorded a miscellaneous loss due to hurricanes Wilma and Katrina in the amount of $3.5 million related to insurance deductibles and to the net book value of leasehold improvements not reimbursable under the Company's insurance due to the fact that such leasehold improvements are expected to be replaced by the Company's landlords.
The Company is insured at the selling price of inventory and the replacement cost of fixed assets.
Burlington Coat Factory operates 367 stores (exclusive of the three stores temporarily closed due to hurricane damage) in 42 states, principally under the name 'Burlington Coat Factory'.
It offers coats, mens, womens, kids clothing, baby bedding cribs, accessories, linens, rugs.
Burlington Coat Factory Warehouse Corporation
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