Burlington Coat Factory Making Progress
Carole Sloan -- Home Textiles Today, May 16, 2013
BURLINGTON, N.J. - Burlington Coat Factory reported its consecutive year of growth for EBITDA (earnings before interest, tax, depreciation and amortization.
For the fiscal year ended Feb. 2, adjusted EBITDA rose 0.6% to $352.1 million.
Sales for the 53-week fiscal year climbed 7.2% to $4.1 billion. Comps, on a 52-week comparative bases, increased 1.2%.
Home was not among the categories executives identified as top performers during the fourth quarter, which was impacted by Super storm Sandy. The storm knocked 130 Burlington Coat Factory Stores off line for some period of time.
During the year, the retailer opened 25 new stores and closed two. Total store count at yearend was 500 units - which includes Burlington's online operation. The company remains on course to open 20 to 25 stores each year.
New stores are now titled "Burlington," but the company does not plan to change the signage on stores that carry the coat factory name.