Burlington Coat Factory

Burlington Coat Factory Q3 Loss Narrows on Higher Sales

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Burlington, NJ—Burlington Coat Factory saw its third quarter loss narrow as sales continued to rise at the off-price retailer.

For the quarter ended Oct. 27, Burlington posted a net loss of $14.2 million compared to a loss of $13.4 million a year ago.

Net revenue rose 7.7% to $969.9 million. Comparable store sales rose 2.1% on top of a 1.5% increase last year. Comparative store inventory turnover improved 18.2% and comparative store inventory decreased 16.6%.

“We continue to be very pleased with our inventory management which once again has resulted in reduced comparative store inventories, faster inventory turns and reduced aged goods,” said Tom Kingsbury, president/chief executive.

For the first nine months of the year, the company said Tuesday its net loss narrowed to $42.6 million, compared to a loss of $64.1 million the same period last year. Net sales rose 7.4% to $2.81 billion during the nine months.

 

 

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