exhibit99-1.htm
EXHIBIT
99.1
KINGSBURY
NAMED PRESIDENT AND CHIEF EXECUTIVE OFFICER OF BURLINGTON COAT
FACTORY
Former
Kohl’s and May Company Executive Brings Strong Merchandising
Experience
BURLINGTON, NEW JERSEY - December 5,
2008 - Burlington Coat Factory, a nationally recognized retailer of
high-quality, branded apparel at every day low prices, today announced the
appointment of Thomas A. Kingsbury to President and Chief Executive Officer of
the Company. Kingsbury most recently served as Senior Executive Vice
President at Kohl's Department Stores (NYSE: KSS) where he had responsibility
for overseeing marketing, business development, e-commerce and information
technology.
Kingsbury,
age 56, brings to Burlington Coat Factory a 30-plus year distinguished career as
an apparel retailer and as an accomplished leader of large
organizations. Prior to Kohl’s, Kingsbury rose through the ranks in
several divisions of the former May Department Stores Company, ultimately
serving for seven years as President and CEO of Filene's/Kaufmann's, May’s
largest division.
Earlier
this year, Mark Nesci announced his intention to retire after a 37-year career
at Burlington Coat Factory, the last two and a half years as
CEO. Since the announcement, Nesci played an active role in the
search for his successor while continuing to operate the
business. Now that Kingsbury has been identified, Nesci will focus
his efforts on supporting a successful transition. After the
completion of Kingsbury’s transition, Nesci will continue his involvement with
Burlington Coat Factory as a senior advisor to the Board of Directors and will
remain an equity investor in the Company.
“I admire
Tom’s leadership in apparel retail. Similarly, both Tom and I have
learned the retail apparel business from the inside - from entry-level positions
working at various levels ultimately to the Chief Executive
Office. This similarity in our backgrounds gives me confidence
that Tom will be a great fit for BCF,” said Nesci. “He is a strong
believer in the off-price business model, and he is truly energized by the
opportunities he sees for our Company.”
“I am
honored to be selected as the next leader of Burlington Coat Factory. I am also
extremely excited to capitalize on my broad merchandising and store operations
experience to help the Company seize the many opportunities that lie ahead,”
said Kingsbury. “I look forward to working alongside Burlington Coat
Factory’s employees, management team and our vendor partners to create a great
shopping experience, to deliver exceptional value to our customers, and to
position the Company for long term success.”
Kingsbury
earned his BBA degree from the University of Wisconsin-Madison.
About
Burlington Coat Factory
Burlington
Coat Factory, the retail authority on coats, offers a broad selection of branded
quality merchandise at everyday low prices across many product categories
including ladies’ sportswear, menswear, family footwear, children’s clothing,
baby furniture and accessories, home décor and gifts, along with the largest
selection of coats for the entire family in the nation. The updated
Burlington Coat Factory, founded in 1972, has expanded from a single store
selling coats to a multi-department retail chain with 427 stores in 44 states
and Puerto Rico, predominantly under the “Burlington Coat
Factory.” For more information about Burlington Coat Factory, visit
our website at www.burlingtoncoatfactory.com.
Contact:
Alex
Stanton
Stanton
Crenshaw Communications
(212)
780-0701
alex@stantoncrenshaw.com