Burlington Coat Factory Narrows Q2 Loss on Sales, Margin Rise

Burlington Coat Factory logoBurlington, NJ—A nearly 8% rise in comparable store sales and improved gross margin helped Burlington Coat Factory today post a narrowed second quarter loss.

For the quarter ended August 3, the off-price retailer posted a net loss of $19.5 million compared with a net loss of $31.3 million in the year-ago quarter.

“This improvement was driven by improved operating results during this year’s quarter, primarily our 7.8% comparative store sales gain and the gross margin rate increase,” the company said.

Net sales rose 11.5% to $963.7 million while comparable store sales were up 7.8%. Gross margin improved by 60 basis points.

Burlington also reported year-to-date results: a narrowed loss to $20.2 million compared with $35.2 million in same period during 2012. Net sales increased 9.9% to $2 billion with comp store sales up 5.5%.

 

 

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