Burlington Coat Factory Narrows Q1 Loss

Burlington, NJ—Burlington Coat Factory said Tuesday that its first quarter loss thanks to an increase in revenue.

For the quarter ended April 28, the off price retailer posted a net loss of $3.9 million compared to a net loss of $21 million in its first quarter last year.

Total net revenue increased 5.7% to $982.4 million. Comparable store sales were up 0.6%.

Noting the company was pleased with its sales increase,” Tom Kingsbury, ceo, added, “We are extremely pleased with our inventory management which resulted in a 14% faster inventory turnover. In addition, our 15% reduction in aged goods is allowing us to deliver more fresh values to our customers on a daily basis.”

 

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