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Deb Shops CEO pleased with strong sales results for Q1

24 May '07
3 min read

During the first quarter of fiscal 2008, Deb Shops opened two new stores, remodeled three existing locations and closed three stores. The Company also added a net of five plus-size departments and, as of April 30, 2007, operated plus-size departments in 186 Deb Shops stores.

Barry Susson, CFO of Deb Shops, added: "We are optimistic that our retail expansion plans and ongoing selective remodeling strategy, which includes increasing our number of plus-size departments, combined with enhancements to our merchandise will result in consistent long-term revenue growth. At the same time, we continue to focus on improving operating efficiencies in order to realize meaningful operating expense leverage going forward. Furthermore, we remain committed to returning value to our shareholders evidenced by our ongoing quarterly dividend payment."

Based on management's current outlook, Deb Shops is reiterating its fiscal 2008 guidance of sales in the range of $343 million to $348 million with a corresponding fully diluted earnings range of between $1.55 and $1.60 per share.

These amounts are based on a projected low single digit
comparable store sales increase and net new store growth of approximately 15 locations. The Company also announced that Joan Nolan has been promoted to the position of Vice President and Chief Accounting Officer.

Ms. Nolan has been employed by Deb Shops since 1998 as Controller. Marvin Rounick, President and CEO of Deb Shops, stated: "Ms. Nolan's promotion is well deserved. She has been a key member of our finance and accounting team since she joined our Company. We look forward to continuing to benefit from her involvement as a member of our senior management team."

Deb Shops Inc

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