Sales, profits rise at Dress Barn
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- May
- 21
Dress Barn Inc., the Montebello-based clothing retailer, said that positive shopper response to its spring merchandise contributed to higher sales and operating profits during its most recent quarter.
The company, which operates more than 1,500 dressbarn and maurices stores across the country, reported an 11 percent jump in operating income to $40.3 million during its fiscal third quarter ended April 25.
Net sales jumped 7 percent to $375.7 million. Sales at stores open for at least a year—a closely followed performance measure in the retail industry—rose 3 percent.“Our customer has responded positively to our spring merchandise and enabled us to generate a comparable store sales gain despite the ongoing challenging market environment,” David R. Jaffe, president and chief executive officer, said in a written statement. “We continue to stress our core strategy of delivering fashion-forward looks at great prices to drive value to our customers.”
Jaffe said that the company also has benefited from efforts to manage costs and inventory.
“It is our goal to remain as efficient as possible, to stay focused on generating cash and preserving liquidity, and to further strengthen our exceptional balance sheet,” Jaffe said.
Net earnings for the quarter were $23.9 million, or 39 cents a share. That compared to net earnings of $24.9 million, or 39 cents a share, a year earlier. In comparing the decrease in net earnings to the increase in operating income, the company cited a reduction in net interest income due to lower interest rates and a higher tax rate in the current quarter.
This entry was posted
on Thursday, May 21st, 2009 at 3:42 pm by Mike Bieger.
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Category: Earnings
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