Burlington Coat Factory sees positive sales in 3Q
HTT Staff -- Home Textiles Today, 12/14/2012 12:10:46 PM
Burlington, N.J. - Burlington Coat Factory's third quarter sales rose 7.7% to $967.9 million.
Comp store sales were up 2.1% for the quarter ended Oct. 27.
Adjusted EBITDA for the quarter was $54.5 million and, as a percentage of net sales, decreased 90 basis points to last year. The company attributed the result to a planned decrease in gross margin rate.
Year-to-date, sales increased 7.4% to $2,814.5 million, with comps up 1.8%. Adjusted EBITDA was $155.1 million and, as a percentage of net sales, decreased 70 basis points to last year.
Kingsbury also discussed the company's distribution of home goods to victims of hurricane Sandy, and that the impact of the storm on sales will be detailed in the next quarterly update.
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