FOR IMMEDIATE RELEASE
COMPANY CONTACT
Lynn
McCracken
Investor Relations
(609) 387-7800 ext. 2601
BURLINGTON COAT FACTORY REPORTS
FOURTH QUARTER SALES
Burlington, NJ-June 8, 2006-Burlington Coat Factory Warehouse Corporation announced today that net sales from continuing operations 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 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 and the other store is located in southern Florida. The Company has not yet determined when these stores will reopen.
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 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 the 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.