Burlington Coat Factory FY sales down

BURLINGTON, N.J. Burlington Coat Factory today announced that net sales were $3.4 billion for fiscal 2007, compared to $3.44 billion for fiscal 2006, a 1% decrease.

The company said it experienced a 2.2% comparative-store sales decrease from the comparative period of a year ago due to unseasonably warm weather in November and December, unseasonably cool weather in April and the impact of the company's new cash back return policy.

The company recorded a net loss of $47.2 million for the period ended June 2 compared with net income of $67.2 million for the 53-week period ended June 3, 2006.