Burlington Coat Factory Announces Decrease In Sales Due To Mild Weather.BURLINGTON Burlington, town, Canada Burlington, town (1991 pop. 129,575), SE Ont., Canada, on Lake Ontario. First settled (1798) by Mohawk Loyalist Joseph Brandt, Burlington's economy was built on the shipment of wheat, lumber, and quarried rock by waterway. , N.J.--(BUSINESS WIRE)--Nov. 23, 1998--Burlington Coat Factory Warehouse Corp. (NYSE NYSE See: New York Stock Exchange :BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter ) Monday Monday: see week. announced that for the period ended Nov. 21, 1998, which encompasses the first 12 weeks of its second quarter ending Nov. 28, 1998, total company comparative store sales decreased 2.6%. Mild weather during the Company's second quarter has adversely affected sales of coats. During the first twelve weeks of the second quarter, comparative store sales of coats declined approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 22%. During the second quarter (Sept. thru Nov.)last year, coats represented 32% of total sales. This year, after the completion of twelve weeks, coats were 26% of total sales. Although unseasonably warm weather reduced the demand for outerwear during this period, total coat inventories are currently close to plan. Total coat inventory as of Nov. 21 was up four percent over that of the prior year, with womens coat inventories down two percent. During the first twelve weeks of the second quarter ending Nov. 28, 1998, with one week remaining, comparative store sales for all departments excluding coats and shoes shoe n. 1. A durable covering for the human foot, made of leather or similar material with a rigid sole and heel, usually extending no higher than the ankle. 2. A horseshoe. 3. increased approximately 4.3%. During this period, the shoe departments were operated in approximately 100 more stores than last year. Currently, the Company operates shoe departments in 152 stores with approximately 50 more departments planned for the Spring of 1999. During this period, six new stores were opened. The Company expects to open a total of 15 new stores during the current fiscal year, with the remaining nine stores expected to open during the Company's fiscal fourth quarter. |
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