Burlington Sales, Profits Up

Income from continuing operations for the period ending Nov. 26 was up 4.8% to $45.4 million, or $1.01 per share, compared with $41.5 million, or 93 cents per share, for the same period in 2005. Same-store sales for the period were also up by 5.3%, the company says.

In the six months ending Nov. 26, sales were $1.6 billion compared with sales of $1.45 billion for the corresponding period, while comparative store sales were up 6.8%. Total sales for that comparative period also rose 10.4% over the period.

In the second quarter of fiscal 2006, the company posted $3.5 million in losses related to insurance deductibles and non-reimbursable leasehold improvements due to destruction caused to several of its stores by Hurricanes Wilma and Katrina. The company currently has closed three Burlington Coat Factory stores in New Orleans and Southern Florida due to damage caused by those storms.

The firm, which operates 367 stores in 42 states under the Burlington Coat Factory, MJM Designer Shoe and Luxury Linens flags, opened 11 stores during the six months ending Nov. 26, eight under the Burlington Coat Factory name and three other freestanding stores under the MJM Designer Shoe flag. Two Burlington Coat Factory and one Luxury Linens stores were closed during that period. The company says it plans to open an additional Burlington Coat Factory Store in the current fiscal year.