USA: Burlington Coat Q4 Profit Surges 700%
Fourth quarter profit at Burlington Coat Factory Warehouse Corporation soared by nearly 700 per cent the company has revealed.
Net income for the three months ended 29 May jumped by 696 per cent to $21.5 million or $0.48 per share, from $2.7 million or $0.06 per share for last year's fourth quarter.
Net Sales for the fourth quarter were $680.8 million versus $602.6 million for prior year period. Total sales increased 13.0 per cent, and comparative store sales increased 3.9 per cent.
For the full year, net income was $67.6 million or $1.52 per share. This compares with $65.0 million or $1.46 per share last year.
Net Income from continuing operations was $71.7 million versus $69.3 million last year.
Net sales for the year were flat at $2.8 billion. Total sales increased 6.6 per cent and comparative store sales decreased 0.3 per cent.
The company has increased in its annual cash dividend to four cents ($0.04) per share.
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