COMPANY CONTACT
Robert L. LaPenta, Jr.
Vice President - Treasurer
(609) 387-7800 ext. 1216
THIRD QUARTER SALES
Burlington, NJ – March 7, 2008- Burlington Coat Factory Warehouse Corporation announced today that net sales from continuing operations for the third quarter ended March 1, 2008 were $987.1 million compared with $987.3 million for the comparative period ended March 3, 2007. These results reflect a 6.0% comparative store sales decrease for the quarter. The decrease in comparative store sales during the quarter was due to weaker consumer demand.
Net sales from continuing operations for the nine months ended March 1, 2008 were $2.612 billion compared with $2.629 billion for the comparative period ended March 3, 2007, a 0.6% decrease. These results reflect a 5.8% comparative store sales decrease for the nine-month period.
During the nine months ended March 1, 2008, the Company opened nineteen Burlington Coat Factory stores. An additional three Burlington Coat Factory store were relocated during the nine month period to locations within the same trading market. The Company closed two MJM Designer Shoes stores during the quarter ended March 1, 2008. During the remainder of the current fiscal year, the Company expects to open one additional Burlington Coat Factory store.
As of March 1, 2008, the Company operated 396 stores in 44 states, principally under the name “Burlington Coat Factory”.
The Company plans to issue a press release on April 15, 2008 announcing earnings for the third quarter and to hold a conference call regarding the third quarter results at 10:00 A.M. Eastern time on April 18, 2008. To listen to the call, visit the Company’s website at www.burlingtoncoatfactory.com. The call will be available for replay on the Company's website.
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.