US: Tween Brands back in NYSE compliance
Clothing retailer Tween Brands said it has received notification from the New York Stock Exchange that the company is now back in compliance.
Under the NYSE's continued listing standards Tween will be removed from its Watch List.
The reinstatement to compliance comes as a result of consistent positive performance, the company said.
"We are very happy to have quickly returned to compliance with the NYSE listing standards. The cornerstone of our business plan was the continued successful transition to the Justice store brand and we are pleased that our value message is reaching customers and they are acting on it," said Michael Rayden, Tween Brands chairman and chief executive officer.
The company will be subject to a 12-month follow-up period to ensure that it remains in compliance.
A hike in second quarter net sales on the back of a recent acquisition has helped Dress Barn swing to a net profit for the period....
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