Burlington Coat Factory Anticipates Lower Than Expected Results for the Fourth Quarter Ended June 2, 2001

Business Wire, July 24, 2001

Business Editors

BURLINGTON, N.J.--(BUSINESS WIRE)--July 24, 2001

Burlington Coat Factory Warehouse Corporation (NYSE:BCF) announced today that it anticipates that the results of the fourth quarter ended June 2, 2001 will be lower than expected due primarily to lower gross margins.

The Company expects to announce results for the quarter and year ended June 2, 2001 on August 2, 2001. The Company will be holding a conference call regarding the fourth quarter results at 9:15 EDT on August 3, 2001. To listen to the call, visit the Company's web site at www.coat.com.

The Company's comparative store sales for the first seven weeks of the current fiscal year increased 1.5%.

In addition, the Company is excited about the acquisition of ten former Montgomery Ward stores and one former Bradlees store, which, together with approximately twenty other planned locations (including relocations), will increase its square footage by approximately ten percent during the current fiscal year.

The acquisition of the Montgomery Ward stores serves to upgrade the Company's real estate because half of these stores are located in enclosed malls.

Burlington Coat Factory Warehouse Corporation currently operates 295 stores in 42 states principally under the name Burlington Coat Factory.