An increase in its store network has helped Burlington Coat Factory report an increase in sales and earnings for its full year.

The company said that net sales reached US$3.54bn for the year, up 4.4% on last year. The increase in net sales resulted primarily from the opening of 36 net new stores in the year.

Comparative store sales decreased 2.5%.

Adjusted EBITDA was $294.8m compared with $272.0m for Fiscal 2008. The increase was the result of cost reductions realised during the last two quarters of the year and sales growth from new stores. During the third and fourth quarters the company reduced its cost structure in excess of $70m, it said.

Tom Kingsbury, president and CEO said: "We are extremely pleased with our 8.4% increase in adjusted EBITDA given the macroeconomic environment that existed during this last year. Once again, I would like to thank the entire store and corporate team for contributing to this result.

"As we transition into Fiscal 2010, the ongoing success of our expense reduction and inventory management initiatives provides us with significant financial flexibility. For example, our available ABL borrowing capacity is at the highest level since the Bain acquisition."