Burlington Coat Factory Reports Weak Sales

Burlington, N.J. Burlington Coat Factory Investments Holdings Inc. said Wednesday that its sales and profit slipped in the 2008 fiscal year.

The company said weakened consumer demand, stock issues and unseasonably warm weather hurt the company's performance.

Burlington reported a loss of $49 million for the fiscal year ended May 31, compared with a net loss of $47.2 million for the prior fiscal year.

The company operates Burlington Coat Factory Warehouse stores, MJM Designer Shoes, Cohoes Fashions and Super Baby Depot. Burlington said same-store sales decreased 5.2% year-to-year.

Total sales for the year were $3.39 billion for the year, down slightly from $3.40 billion reported for the prior fiscal year.

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