Ian Ritter is national online editor of GlobeSt.RETAIL.
BURLINGTON, NJ-Burlington Coat Factory Warehouse is "exploring possible strategic alternatives for the company to enhance shareholder value," says a statement released by company executives. The 362-store chain has retained Goldman Sachs & Co. to explore a possible transaction.
It is a good time for the company to sell, points out retail analyst Howard Davidowitz, chairman of Davidowitz & Associates, a New York City-based retail consulting and investment firm. Monroe Milstein, the retailer's chairman and CEO is 78 years old and likely wants to get his estate in order, Davidowitz surmises.
The company has also had successful financial quarters of late, compared to a few years of tough competition from retailers like TJX Cos. and Ross Stores. "This is the peak time to sell," he says. "The stars are aligned perfectly."
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