• Swings to FY profit of US$25.3m from a $6.27m loss 
  • Net sales rose 7.2% to $4.13bn
  • Comparative store sales increased 1.2%

A 7.2% rise in sales has helped Burlington Coat Factory swing to a full-year profit, with the retailer saying it is "very excited" about the year ahead.

The company, which operates 503 stores, booked a net income of US$25.3m in the fiscal year ended 2 February, compared with a loss of $6.27m the year before.

Net sales for the year rose to $4.13bn, up from $3.85bn last time. Comparative store sales for the year increased 1.2%.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $352.1m represents an increase of 0.6% on the prior year, a statement said. It added that comparable store inventories decreased 13% at the year-end - which contributed to a 16% faster inventory turnover during the fiscal year.

"We are very proud of our achievements in 2012, which included: celebrating our 40th anniversary, opening our 500th store and exceeding $4bn in total sales," said Tom Kingsbury, president and CEO. "In addition, for the second year in a row, we delivered both a comparative store sales and adjusted EBITDA increase.

"We are very excited about 2013 based on the increased tenure of our merchandising organisation, our level of both buying and financial liquidity and the outstanding support we are receiving from the vendor community."