US: Burlington Coat Factory books US$11.1m Q1 profit
- Q1 adjusted net profit $11.1m, up from $0.8m
- Net sales up 8.4% to $1.065bn
- Comparable store sales up 3.4%
Retailer Burlington Coat Factory recorded a strong improvement to its first quarter profit, boosted by a near-double-digit sales increase and a 3.4% comparable store sales rise.
The company also said that gross margins had improved in the three-month period ended 4 May.
President and CEO Tom Kingsbury said he was “very pleased” with the result and added: “We continue to stay focused on delivering more fresh values to our customers on a daily basis.”
Private eqiuity firm Advent International has declined to comment on reports its fashion chain, Charlotte Russe, is in talks about a potential initial public offering (IPO)....
US retailer Burlington Stores has said it expects to raise US$205m from an initial public offering (IPO) of 13.3m shares of its common stock at $17.00 per share....
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