Ascena Retail Group Inc, reported its fiscal 2011 sales results for the fourth quarter and year ended July 30, 2011. The Company noted that fiscal 2011 represented a 52-week period, while fiscal 2010 represented a 53-week period.
Net sales for the thirteen-week fiscal fourth quarter increased 2% to $725.8 million, compared to $710.9 million for the fourteen-week fiscal fourth quarter ended July 31, 2010. Excluding the sales impact of the extra week included in the prior year's quarter, sales increased 11%. Consolidated comparable store sales, which includes stores open for at least one year, increased 7% on a 13-week comparable basis for the fiscal fourth quarter.
Net sales for the fiscal year ended July 30, 2011 increased 23% to $2.91 billion, compared to $2.37 billion for the fiscal year ended July 31, 2010. On a full year basis, the increase was primarily due to the inclusion of Justice for the full year period compared to a partial period in the prior year, which included sales from the merger date of November 25, 2009. Consolidated comparable store sales for the fiscal year increased 6%.
Ascena Retail Group, Inc. was created as a public company effective January 1, 2011. The Company is a leading national specialty retailer of apparel for women and tween girls, operating, through its wholly-owned subsidiaries, the dressbarn, maurices and Justice brands. The Company operates through its subsidiaries approximately 2,500 stores throughout the United States and Canada, with revenues of approximately $2.9 billion.
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