TJX exec is new Burlington chief merchant
HTT Staff -- Home Textiles Today, 4/20/2012 1:40:39 PM
Burlington, N.J. - Burlington Coat Factory will have a new head of merchandising next week as Paul Metcalf takes up the post of evp/chief merchandising officer, the company said as it announced its year-end results this morning.
Metcalf spent the past six years at TJX Companies, where he was first gmm of menswear and then svp of women's apparel. Prior to 2006, he held several positions at May Department Stores.
During its quarterly conference call today, Burlington execs said the company is continuing to build out its merchandising, field management and support teams. It also plans to continue the expansion of its vendor base.
For the year ended Jan. 28, Burlington Coat Factory posted a net loss of $6.27 million compared to net income of $22.1 million in the previous fiscal year.
Sales rose 5.0% to $3.85 billion. Comps rose 0.7%. Home was among the departments that outperformed the company average, according to Tom Kingsbury, president and ceo of the 482-store operation.
The company plans to open 17 to 25 new stores during the current fiscal year. Last year, it opened 20 and closed three.
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