Apparel retailer Burlington Coat Factory has recorded a 7.7% rise in third-quarter net sales.

Net sales reached US$967.8m during the quarter ended 27 October, compared to $898.7m the prior year, while comparable store sales climbed 2.1%.

CEO Tom Kingsbury said: "We continue to be very pleased with our inventory management which once again has resulted in reduced comparative store inventories, faster inventory turns and reduced aged goods."

The company, which operates 497 stores, said net sales for the first nine months of the year rose 7.4% to $2.81bn, while comparable store sales edged up 1.8%.

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Burlington Coat Factory Reports Third Quarter Sales

BURLINGTON, N.J.--(BUSINESS WIRE)--Burlington Coat Factory Warehouse Corporation announced today that net sales for the third quarter ended October 27, 2012 were $967.8 million compared with $898.7 million for the comparative period ended October 29, 2011, a 7.7% increase. Comparative store sales increased 2.1% for the quarter.

Net sales for the nine months ended October 27, 2012 were $2.814 billion compared with $2.621 billion for the comparative period ended October 29, 2011, a 7.4% increase. These results reflect a 1.8% comparative store sales increase for the period.

Tom Kingsbury, Chief Executive Officer, stated, “I am pleased with our 7.7% total sales increase and 2.1% comparative store sales increase for the quarter. We continue to be very pleased with our inventory management which once again has resulted in reduced comparative store inventories, faster inventory turns and reduced aged goods. In addition, as we move into the all important fourth quarter we are excited about our liquidity and the level of fresh receipts that we are planning on delivering to our customers.”

As of October 27, 2012, the Company operated 497 stores in 44 states and Puerto Rico, principally under the name “Burlington Coat Factory.”

 

Original source: http://www.businesswire.com/news/home/20121101005787/en/Burlington-Coat-Factory-Reports-Quarter-Sales