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NRF weighs in on congressional budget deal
The National Retail Federation is calling the short-term budget deal reached by Congress this week a step in the right direction for the economy and for retailers.
In a prepared statement, Matthew Shay, president and CEO of the NRF, said legislators must move past partisan differences to resolve lingering fiscal issues.
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Burlington Coat Factory shrinks net loss
Burlington, N.J. – Burlington Coat Factory shrunk its net loss to $7.4 million from $16.8 million during the third quarter of fiscal 2013, compared to the same period a year earlier.
The retailer also increased net sales 10% to $1.06 billion, from $967.9 million.
Burlington said the net sales increase was primarily attributable to a $53.2 million increase in sales related to new stores and stores previously opened that are not included in same-store sales, and a $37 million, or 3.9%, increase in same-store sales.