Paul Metcalf is taking over as Executive Vice President/Chief Merchandizing Officer at Burlington Coat Factory. Metcalf spent six years at TJX, where he was a menswear merchandizing manager and Senior Vice President of Women’s Apparel.
During their Q1 conference call, Burlington executives said that the discount apparel and home products retailer intends to focus on building its merchandising, field management, and support teams. As part of this recalibration, the company is planning to expand its vendor base. Metcalf will play a vital role in this process.
As a discount retailer, Burlington has been well-positioned during the recession, and has seen steady or improving sales for the last two years. In FY2010 the company posted EBITDA of $338.1 million, largely due to margin improvements. In FY 2011, EBITDA increased to $350.0 million.
Tom Kingsbury, President and Chief Executive, stated, ” “We were pleased to report our fourth consecutive year of Adjusted EBITDA growth which was driven by our 5.0% overall sales growth, inclusive of our 0.7% comparative store increase. Many areas of the business contributed to our positive comparative store increase for the year. We believe our current momentum, reduction in aged inventory, and outstanding support that we are receiving from the vendor community has us well positioned for 2012.”
The company has 470 stores and plans to open 17 to 25 new stores in the current fiscal year. They recently announced plans to open a brand new flagship store in NYC, at the south end of Union Square. The company intends to use the store to promote more fashionable products and to demonstrate the breadth of their offerings to an urban audience. Their soft goods and apparel offerings include coats, dresses, lingerie, menswear, sportswear, footwear, linens, and home decor.