Teen apparel retailer Deb Shops Inc has reported financial results for the fourth quarter and fiscal year ended January 31st 2006.
For the fourth quarter of fiscal 2006, net sales increased 7.1 percent to $88.4 million compared to $82.6 million in the fourth quarter, a year ago. Gross profit, which is net of buying and occupancy costs, was $39.0 million resulting in a gross margin of 44.2 percent for the period versus gross profit of $35.4 million and a 42.9 percent gross margin in the fourth quarter of fiscal 2005.
Fourth quarter net income increased to $12.8 million compared to $10.6 million in the prior year and diluted earnings per share increased 17.1 percent to $0.89 compared to $0.76, a year ago.
Marvin Rounick, President and CEO of Deb Shops said, "We are very pleased with our fourth quarter results, which represent a nice finish to a solid year for our company."
"Our performance in fiscal 2006 reflects our strategic efforts to reinvigorate our top-line by successfully opening new locations, increasing the penetration of our plus-size business, selectively updating our store base, and enhancing our merchandise assortment," he added.
The net sales for the year ended January 31st 2006 increased 7.0 percent to $325.0 million from $303.8 million for the comparable prior year period. Gross profit, which is net of buying and occupancy costs, was $113.3 million resulting in a gross margin of 34.9 percent for fiscal 2006 versus gross profit of $100.9 million and a 33.2 percent gross margin in fiscal 2005.
marketing@alchempro.com
