Burlington Coat Factory Investments Holdings, Inc. and its operating subsidiaries (the Company), a nationwide retailer based in Burlington, New Jersey, announced its operating results for the first quarter ended May 4, 2013.
Operating Results For First Quarter Fiscal 2013
Net sales increased 8.4% to $1,065.0 million for the quarter compared with $982.4 million for the quarter ended April 28, 2012. Comparative store sales increased 3.4%.
Adjusted Net Income for the quarter increased $10.3 million to $11.1 million. The increase was primarily driven by sales growth and improved gross margin rate, partially offset by increased selling and administrative expenses.
EBITDA for the quarter increased $5.9 million to $69.6 million. Excluding the impact of $8.9 million of costs related to the amendment of our Term Loan Facility in February 2013, EBITDA increased by $14.8 million.
Tom Kingsbury, President and Chief Executive Officer stated, “We are very pleased with our $10.3 million increase in Adjusted Net Income during the quarter, which was driven by our 8.4% overall sales growth and, most importantly, our 3.4% comparative store sales increase.
“We continue to stay focused on delivering more fresh values to our customers on a daily basis. I would like to thank our store and corporate team for contributing to these great results.”
About Burlington Coat Factory
Burlington Coat Factory is a nationally recognized retailer of high-quality, branded apparel at everyday low prices. The Company currently serves its customers through its 503 stores in 44 states and Puerto Rico.
