Burlington Coat Factory Warehouse Corporation announced today that net sales from continuing operations for the fourth quarter ended May 30, 2009 were $811.5 million compared with $780.9 million for the comparative period ended May 31, 2008, a 3.9% increase. Comparative store sales decreased 3.1% for the period.
Net sales from continuing operations for the twelve months ended May 30, 2009 were $3.542 billion compared with $3.393 billion for the comparative period ended May 31, 2008, a 4.4% increase. These results reflect a 2.5% comparative store sales decrease for the year.
Tom Kingsbury, Chief Executive Officer, stated, “We are very pleased to continue to report a total sales and market share increase. In addition, the ongoing success of our cost reduction initiative has enabled us to end the year with a more current inventory position as we move into the 2010 fiscal year.”
During the twelve months ended May 30, 2009, the Company opened thirty-six net new Burlington Coat Factory stores. Two stores closed as a result of hurricane “Ike” were reopened during the fourth quarter of fiscal 2009.
As of May 30, 2009, the Company operated 433 stores in 44 states and Puerto Rico, principally under the name “Burlington Coat Factory”.
Statements made in this press release that are forward-looking (within the meaning of the Private Securities Litigation Reform Act of 1995) are not historical facts and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: general economic conditions; consumer demand; consumer preferences; weather patterns; competitive factors, including pricing and promotional activities of major competitors; the availability of desirable store locations on suitable terms; the availability, selection and purchasing of attractive merchandise on favorable terms; import risks; the Company’s ability to control costs and expenses; unforeseen computer related problems; any unforeseen material loss or casualty; the effect of inflation; and other factors that may be described in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied will not be realized.
Contacts:
Burlington Coat Factory Warehouse Corporation
Robert L.
LaPenta, Jr.
Vice President - Treasurer
609-387-7800 ext. 1216