Burlington Coat Factory Reports Fourth Quarter Sales.BURLINGTON, N.J. -- Burlington Coat Factory Burlington Coat Factory Warehouse Corporation is a national department store retailer focusing on clothing and shoes, with over 360 stores in 42 states (as of 2006). In early 2007, the first location to be opened in Canada will be at the Vaughan Mills mall in Toronto. Warehouse Corporation announced today that net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the for the fourth quarter ended June 3, 2006 (14 weeks), were $829.4 million compared with $756.9 million for the fiscal quarter ended May 28, 2005 (13 weeks), a 9.6% increase. Net sales for the fourteenth week amounted to $53.3 million. Total sales for the quarter, excluding the extra week, increased 2.5%. These results reflect a 0.6% comparative store sales increase for the quarter. March comparative store sales decreased 6.8%, April comparative store sales increased 11.5% and May comparative store sales increased 0.4% (5 weeks) as compared with the comparative 14-week period of the prior fiscal year. Net sales from continuing operations for the fiscal year ended June 3, 2006 (53 weeks), were $3.449 billion compared with $3.171 billion for the fiscal year ended May 28, 2005 (52 weeks), an 8.8% increase. Net sales, excluding the extra week this year, increased 7.1%. These results reflect a 4.3% comparative store sales increase for the twelve month period. During the twelve months ended June 3, 2006 (53 weeks), the Company opened nine Burlington Coat Factory stores and three free standing MJM MJM Multi-Jet Modeling (prototyping manufacturing) MJM Metropolitan Japanese Ministry MJM Married Jewish Male Designer Shoe stores. An additional six Burlington Coat Factory stores were relocated during the twelve months ended June 3, 2006 to locations within the same trading market. Four Burlington Coat Factory stores and two Luxury Linens stores were closed during the twelve months ended June 3, 2006. In addition, the Company has three Burlington Coat Factory stores that remain temporarily closed due to damage caused by Hurricanes Katrina and Wilma. Two of these stores are located in New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded and the other store is located in southern Florida. The Company has not yet determined when these stores will reopen re·o·pen tr. & intr.v. re·o·pened, re·o·pen·ing, re·o·pens 1. To open or be opened again: Officials reopened the airport after the snow was cleared. Schools reopen in September. . As of June 3, 2006, the Company operates 365 stores (exclusive of the three stores temporarily closed due to the hurricanes) in 42 states, principally under the name "Burlington Coat Factory". Statements made in this press release that are forward-looking (within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995) are not historical facts and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: general economic conditions; consumer demand; consumer preferences; weather patterns; competitive factors, including pricing and promotional activities of major competitors; the availability of desirable store locations on suitable terms; the availability, selection and purchasing of attractive merchandise on favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. terms; import risks; the Company's ability to control costs and expenses; unforeseen computer related problems; any unforeseen material loss or casualty; the effect of inflation; and other factors that may be described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake the publicly update or revise its forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. even if experience or future changes make it clear that any projected results expressed or implied will not be realized. |
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