Dress Barn Inc reported sales and earnings results for the fourth quarter and fiscal year ended July 28, 2007.
Fiscal Fourth Quarter Results: Net sales for the fiscal fourth quarter ended July 28, 2007 increased 11% to a record level of $379.9 million compared to last year's $343.3 million for the fiscal fourth quarter ended July 29, 2006. Comparable store sales increased 5% on top of a 7% increase for the same fiscal quarter last year.
Net earnings for the fiscal fourth quarter increased to a record level of $33.6 million, or $0.48 per diluted share. This compares to net earnings of $24.4 million, or $0.35 per diluted share, for the comparable period of fiscal 2006.
During the fourth quarter the Company recognized, within net sales, $3.7 million from the non-redemption of a portion of gift cards and gift certificates sold, and merchandise credits issued. This represents the cumulative effect of breakage income. As a result, diluted earnings per share were favorably impacted during the quarter and the year by approximately $0.03.
2007 Fiscal Year Results: Net sales for the fiscal year ended July 28, 2007 increased 10% to a record level of $1.427 billion compared to $1.300 billion reported for the fiscal year ended July 29, 2006. Comparable store sales increased 5% in fiscal 2007 on top of an 8% increase in fiscal 2006.
Net earnings for the fiscal 2007 increased to a record level of $101.2 million, or $1.45 per diluted share. This compares to net earnings of $79.0 million, or $1.15 per diluted share, for the comparable period last year. Excluding the impact of breakage income, diluted earnings per share for fiscal 2007 would have been $1.41.
marketing@alchempro.com
