Burlington Coat Factory reports solid 4Q sales
HTT Staff -- Home Textiles Today, 2/22/2013 12:50:20 PM
Burlington, N.J. - Burlington Coat Factory's fourth quarter sales rose 6.8% to $1.2 billion.
Comps in the 14-week quarter rose 6.8%. Comparing same-store sales to last year's 13-week quarter, comps slipped 0.3%.
Sales for the fiscal year ended Feb. 2 climbed 7.2% to $4.1 billion. Comps for the 53-week period were up 7.2%. On a comparable 52-week basis, sales rose 1.2%.
"Our fourth quarter sales results were negatively impacted by the effects of Hurricane Sandy and the unseasonably warm weather in December. We were very pleased with our January sales performance, and we look forward to continuing to build on our comparative store sales and total sales growth in fiscal 2013," said Tom Kingsbury, ceo.
The company's preliminary earnings estimate calls for fourth quarter adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $192 million to $203 million, an increase of 2.7% to 8.0%.
For the full fiscal year, Burlington Coat Factory expects to report adjusted EBITDA of $348 million to $358 million, which would represent a range from a decline of 0.6% to an increase of 2.3%.
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