Dress Barn, Inc. Reports First Quarter Fiscal Year 2011 Sales Results
November 04 2010 - 6:00AM
Business Wire
Dress Barn, Inc. (NASDAQ - DBRN) today reported its
fiscal 2011 first quarter sales results. Net sales for the
thirteen-week fiscal first quarter ended October 30, 2010 increased
77% to $713.3 million compared to $404.1 million for the
thirteen-week fiscal first quarter ended October 24, 2009. The
overall increase was primarily due to the inclusion of
Justice sales of $290.6 million. Comparable store sales
during this period, for stores open at least one year, increased
4%.
The Company’s net sales and comparable store sales by brand for
the fiscal first quarter were as follows:
Fiscal First
Quarter Net Sales ($ millions) Comparable
Store Sales (A)
Quarter Ended Oct. 30, 2010 Oct. 24, 2009 %
Inc/(Dec) % Inc/(Dec)
dressbarn $ 240.2 $ 248.0 -3% -3%
maurices 182.5 156.1 17% 9%
Justice 290.6 -- -- 8%
Dress Barn, Inc. $ 713.3 $ 404.1 77% 4%
(A) Justice comparable store sales are based on stores
that had sales on the same day in both the current year and the
previous year which were operated by Tween Brands, Inc. prior to
the merger. The Company’s total comparable store sales increase
also reflects Justice’s comparable store sales.
Commentary
David R. Jaffe, President and Chief Executive Officer commented,
“We are pleased by both our consolidated comparable store sales
performance for the quarter and our healthy maintained level of
gross profitability. As we look to the Holiday season, we believe
we have the opportunity to maintain our momentum."
Conference Call
Information
The Company will conduct a conference call, November 18, 2010 at
4:30 PM Eastern Time to review its first quarter fiscal 2011
results followed by a question and answer session. Parties
interested in participating in this call should dial in at (617)
213-8842 prior to the start time, the passcode is 39922459. The
call will also be simultaneously broadcast at www.dressbarninc.com.
A recording of the call will be available shortly after its
conclusion and until December 18, 2010 by dialing (617) 801-6888,
the passcode is 98436870.
About Dress Barn, Inc.
Dress Barn, Inc. (NASDAQ - DBRN), is a leading national
specialty retailer of apparel for women and tween girls operating
under the dressbarn, maurices and Justice
names. The Company operates 2,487 stores.
dressbarn stores offer casual, career and special
occasion fashion apparel and accessories at value prices for women
ages 35-55, operating 838 stores in 47 states. maurices
stores offer casual and career apparel and accessories at great
values to the fashion-conscious woman, ages 17-34 with a
20-something attitude, and operate 758 stores in 44 states.
Justice stores offer trend-right apparel and accessories at
value prices for tween girls ages 7-14 and operate 891 stores in 46
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 31, 2010.
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