COMPANY CONTACT
Robert L. LaPenta, Jr.
Vice
President - Chief Accounting Officer and Treasurer
(609)
387-7800 ext. 1216
THIRD QUARTER
SALES
Burlington, NJ – March 1, 2006 - Burlington Coat Factory Warehouse Corporation (NYSE-BCF) announced today that net sales from continuing operations for the third quarter ended February 25, 2006 were $1,023.6 million compared with $968.1 million for the comparative period ended February 26, 2005, a 5.7% increase. These results reflect a 3.5% comparative store sales increase for the quarter. December comparative store sales increased 7.5%, January comparative store sales decreased 3.6% and February comparative store sales increased 0.7%, compared with the same periods last year.
Net sales from continuing operations for the nine months ended February 25, 2006 were $2.620 billion compared with $2.414 billion for the comparative period ended February 26, 2005, an 8.5% increase. These results reflect a 5.5% comparative store sales increase for the nine-month period.
During
the nine months ended February 25, 2006, the Company opened eight Burlington
Coat Factory stores and three free standing MJM Designer Shoe stores. An additional five Burlington Coat Factory
stores were relocated during nine months ended February 25, 2006 to locations
within the same trading market. Two
Burlington Coat Factory stores and two Luxury Linens store were closed during
the nine months ended February 25, 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 and the other store is located in southern Florida. The Company has not yet determined when
these stores will reopen. During the
remainder of the current fiscal year, the Company expects to open an additional
Burlington Coat Factory store and relocate two Burlington Coat Factory stores
to new locations within the same trading market.
As
of March 1, 2006, the Company operates 366 stores (exclusive of the three
stores temporarily closed due to the hurricanes) in 42 states, principally
under the name “Burlington Coat Factory”.
The
Company plans to issue a press release on April 5, 2006 announcing net income
for the third quarter.
Statements
made in this press release that are forward-looking (within the meaning of the
Private Securities Litigation Reform Act 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 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 to publicly update or revise its forward-looking statements even
if experience or future changes make it clear that any projected results
expressed or implied will not be realized.