US: Dress Barn more than doubles first quarter earnings
By just-style.com | 19 November 2010
- Net earnings up to $48.0m from $21.7m
- Net sales jumped 77% to $713.3m
- Same-store sales increased 4%
Better than expected results at its Maurices and Justice chains have helped women's wear retailer Dress Barn Inc to more than double its third quarter earnings.
"Our strong first quarter results were largely driven by the inclusion of the Justice business," explained David Jaffe, president and CEO.
"Our financial performance was led by better than expected results at both Maurices and Justice while our Dressbarn stores were somewhat below plan. We are focused on maximising our productivity in each concept through effective inventory management and assortment planning."
He continued: "As we look forward to the holiday and spring seasons, we are encouraged that our positioning will enable us to continue to capture increased sales. We believe that we have the right mix of fashion and value in each of our concepts to capture the attention of our core consumers."
Sectors: Apparel, Finance, Retail
Companies: Dress Barn
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