COMPANY CONTACT
Robert L. LaPenta, Jr.
Vice President - Treasurer
(609) 387-7800 ext. 1216
THIRD QUARTER 2009 SALES
Burlington, NJ – March 5, 2009 - Burlington Coat Factory Warehouse Corporation announced today that net sales from continuing operations for the third quarter ended February 28, 2009 were $1.022 billion compared with $987.1 million for the comparative period ended March 1, 2008, a 3.5% increase. Comparative store sales decreased 4.3% for the quarter.
Net sales from continuing operations for the nine months ended February 28, 2009 were $2.731 billion compared with $2.612 billion for the comparative period ended March 1, 2008, a 4.5% increase. These results reflect a 2.3% comparative store sales decrease for the period.
Tom Kingsbury, Chief Executive Officer, stated, “We are very pleased to report a total sales and market share increase while simultaneously executing on our cost savings and receipt management initiatives.”
During the nine months ended February 28, 2009, the Company opened thirty net new Burlington Coat Factory stores. During the remainder of the current fiscal year, the Company expects to open six additional stores. Two stores remain closed as a result of hurricane “Ike” and are expected to reopen during the fourth quarter of fiscal 2009.
As of February 28, 2009, the Company operated 427 stores in 44 states and Puerto Rico, 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 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.