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Burlington Coat Factory Pares Back Loss

Burlington Coat Factory dramatically narrowed its first quarter loss to $3.9 million compared to a net loss of $21.0 million in the year-ago quarter. Sales rose 5.7% to $53.3 million, with comps edging up 0.6%.
     Tom Kingsbury, ceo, said inventory turn was 14% faster during the quarter ended April 28 and the retailer reduced the amount of aged inventory by 15%.

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