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Burlington Coat Profits Down

BURLINGTON, NJ–Increased freight costs led to the clothing retailer to post lower profits on the verge of it going private.

By Sean Ryan | Updated on April 10, 2006

Sean Ryan is associate editor of Real Estate New Jersey .

BURLINGTON, NJ–More jackets were sold, but there’s less money in the till at the end of the day for Burlington Coat Factory. Sales for Q3 were just over $1 billion, compared to $968.1 million for Q3 results a year ago. Despite this, income from continuing operations during this quarter was $58.3 million, compared to $66.1 million a year ago.

Cost of sales and selling/administrative expenses are both notably higher than last year, largely due to freight increases. Robert LaPenta, chief accounting officer and treasurer, said that several initiatives are in the works to cut down on freight charges, but could not specify the initiatives at this time. The company had opened a large distribution center in Edgewater Park, NJ two years ago, and has another one in San Bernardino, CA scheduled to open within a month.

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