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SMALL BUSINESS
Dress Barn, Inc. Reports Second Quarter Sales Results
-- Comparable Sales Increase 10% --
Business Wire
Dress Barn, Inc.
(NASDAQ - DBRN) today reported its second
quarter sales results.
Net sales for the thirteen-week fiscal quarter ended January 23, 2010
increased 73.1% to $594.1 million, compared to $343.2 million reported
for the thirteen weeks ended January 24, 2009. The increase is primarily
due to the inclusion of
Justice sales since the merger on
November 25, 2009 and increased comparable store sales at
dressbarn
and
maurices. Consolidated comparable store sales increased 10%
and 8% for the fiscal quarter and six months ended January 23, 2010,
respectively.
Comparable store sales by division for the quarterly and six month
periods ended January 23, 2010 were as follows:
| Comparable Store Sales | |||||||
|
Second
Quarter
|
Six
Months
|
||||||
| dressbarn | +6% | +5% | |||||
| maurices | +5% | +4% | |||||
| Justice* | +19% | +19% | |||||
| Consolidated | +10% | +8% | |||||
*
Justice comparable store sales are included since the merger on
November 25, 2009.
David R. Jaffe, President and Chief Executive Officer commented, “We
were very pleased with the stronger than expected sales performance at
each of our divisions during the quarter. Our commitment of offering
fashion apparel at value prices continues to resonate with our
customers. We are also pleased with our recent successful redemption of
all outstanding 2.50% Convertible Senior Notes. This has further
strengthened our balance sheet by eliminating $112.5 million of debt and
reduced our interest expense. We continue to be committed to a
comprehensive strategy of improving our business and flowing value to
our shareholders.”
ABOUT DRESS BARN, INC.
Dress Barn, Inc.
(NASDAQ - DBRN), is a leading national specialty
apparel retailer offering quality casual and career women’s fashion
apparel at value prices through its
dressbarn and
maurices
brands and tween girls’ fashion apparel through its
Justice
brand. As of January 23, 2010, the Company operated 837
dressbarn
stores in 47 states, 739
maurices stores in 44 states and 906
Justice
stores in 45 states and Puerto Rico. For more information, please visit
www.dressbarn.com,
www.maurices.com
and
www.shopjustice.com.
Forward-Looking Statements
Certain statements made within this press release may constitute
“forward-looking statements”, within the meaning of the Private
Securities Litigation Reform Act of 1995.
Such forward-looking
statements are subject to certain risks and uncertainties that could
cause actual results to differ materially. The Company does not
undertake to publicly update or review its forward-looking statements
even if experience or future changes make it clear that our projected
results expressed or implied will not be achieved. Detailed information
concerning a number of factors that could cause actual results to differ
materially from the information contained herein is available in our
most recent report on Form 10-K for the year ended July 25, 2009 and
Form 10-Q for the quarter ended October 24, 2009.
Copyright Business Wire 2010
2010-02-04 07:00:00
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