Home / Knowledge / News / Apparel/Garments / Dress Barn Comparable store sales decline
Dress Barn Comparable store sales decline
18
Sep '08
Dress Barn Inc reported sales and earnings results for the fourth quarter and fiscal year ended July 26, 2008.

Fiscal Fourth Quarter Results:
Net sales for the fiscal fourth quarter ended July 26, 2008 were $382.3 million, compared with net sales of $379.9 million for the fiscal fourth quarter ended July 28, 2007. Comparable store sales for the quarter declined 2% versus the prior year's increase of 5%.

By division, net sales at dressbarn stores were $238.5 million compared with net sales of $251.0 million in the fourth quarter of fiscal 2007. Comparable store sales for the quarter declined 5%, compared to the prior year's 1% increase. Net sales at maurices stores were $143.8 million compared with net sales of $128.9 million in the fourth quarter of fiscal 2007. Comparable store sales for the quarter increased 4% on top of the prior year's 13% increase.

Net earnings for the fiscal fourth quarter were $22.1 million, or $0.34 per diluted share. This compares to record net earnings of $33.6 million, or $0.48 per diluted share for the comparable period of fiscal 2007.

2008 Fiscal Year Results:
Net sales for the fiscal year ended July 26, 2008 were $1.444 billion, compared with net sales of $1.427 billion for the fiscal year ended July 28, 2007. Comparable store sales declined 3% versus the prior year's increase of 5%.

By division, net sales at dressbarn stores were $887.6 million compared with net sales of $934.8 million for fiscal 2007. Comparable store sales declined 7% versus the prior year's increase of 4%. Net sales at maurices stores were $556.6 million compared with net sales of $491.8 million for fiscal 2007. Comparable store sales increased 4% on top of last year's increase of 7%.

Net earnings for fiscal 2008 were $74.1 million, or $1.15 per diluted share. This compares to record net earnings of $101.2 million, or $1.45 per diluted share for fiscal 2007.

Commentary:
David R. Jaffe, President and Chief Executive Officer stated, "Our full year results certainly show the impact of what has been a very challenging retail environment. While we have not been able to avoid the pressures of the marketplace, we have managed the business prudently and made a number of improvements to our operations and created a leaner, more responsive business model.

At the store level, we have successfully implemented significant inventory controls to reduce our exposure to markdowns. We have also been vigilant with regard to expenses, investing only in those areas where we see a clear return on investment."

Mr. Jaffe continued, "Our dressbarn stores business has shown recent improvement due to improved execution, trend-right merchandise assortment, and effective marketing programs that reinforce our value message to consumers. With our most difficult comparisons behind us, we believe that our Company can perform well even in view of our expectation fora continued challenging environment.


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X