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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