Dress Barn Comparable store sales up for Q1 fiscal
29 Nov '06
2 min read
Dress Barn Inc reported sales and earnings results for its fiscal first quarter ended October 28, 2006.
First Quarter Results Net sales for the thirteen-week period ended October 28, 2006 increased 12 percent to a record first quarter of $358.4 million compared to last year's $318.9 million for the same quarterly period ended October 29, 2005.
Comparable store sales for the fiscal first quarter increased 7 percent; driven by increases of 10 percent from its dressbarn stores and 2 percent from its maurices stores.
Net earnings for the fiscal first quarter ended October 28, 2006 increased 35 percent to a record level of $27.4 million, or $0.40 per diluted share, compared to $20.4 million, or $0.32 per diluted share in the year-ago quarter.
David R. Jaffe, President and Chief Executive Officer of Dress Barn Inc commented, "Our business continues to show strong momentum despite increasingly difficult comparisons. We are very pleased to have again delivered record sales and earnings. Our merchandise mix continues to be on the mark and this past first quarter marks our eleventh consecutive quarter of comparable store sales increases.”
Mr. Jaffe continued, "The dressbarn and maurices brands are each performing well and growing stronger. Our fall assortments have shown excellent initial sell-throughs and contributed favorably to our margins."
"We believe that the level and composition of our inventory is on-target for the upcoming Holiday season and we expect our trend to continue into the second quarter. This strong start positions us well for the year ahead, and we are increasingly confident in our ability to achieve our financial objectives."
marketing@alchempro.com
