Burlington Coat Factory Reports First Quarter Sales
Author Zizzur Staff. Published on May 21, 2011 - 3:27 am (963 views — 292 words
BURLINGTON, NEW JERSEY--(BUSINESS WIRE)--Burlington Coat Factory Warehouse Corporation announced today that net sales for the first quarter ended April 30, 2011 were $929.1 million compared with $894.7 million for the comparative period ended May 01, 2010, a 3.8% increase. Comparative store sales increased 0.5% for the quarter.
Tom Kingsbury, Chief Executive Officer, stated, "I am pleased that we were able to produce a positive comparative store increase in the first quarter on top of our 3.3% increase in the prior year. We are pleased with the currency of our inventories as we enter the second quarter and continue to believe we are well positioned for the remainder of 2011."
As of April 30, 2011, the Company operated 462 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.