Burlington Coat Factory 2Q Sales Fall
Burlington, N.J. Burlington Coat Factory said net sales decreased 3.9%, or $38.2 million, to $946.6 million for the second quarter ended Dec. 1, 2007. Same-store sales decreased 8.0%.
The decrease in same-store sales is primarily attributed to unseasonably warm weather in September and October and weakened consumer demand during the period.
The company also reported a net income of $23.2 million compared with $11.7 million during the same period of the previous year. The increase in net income is primarily attributable to improved markup on new purchases and decreases in depreciation expense, selling and administrative expense and interest expense.