Home / Knowledge / News / Apparel/Garments / Dress Barn generates solid first quarter results
Dress Barn generates solid first quarter results
20
Nov '08
Dress Barn Inc reported sales and earnings results for its fiscal first quarter ended October 25, 2008.

Net sales for the fiscal first quarter ended October 25, 2008 increased 3% to $376.4 million, compared to net sales of $363.7 million for the fiscal first quarter ended October 27, 2007. Comparable store sales for the quarter decreased 1%.

By division, net sales at dressbarn stores increased 2% to $232.8 million compared to net sales of $228.2 million in the first quarter of fiscal 2008. Comparable store sales for the quarter were flat to last year. Net sales at maurices stores increased 6% to $143.6 million compared to net sales of $135.5 million in the first quarter of fiscal 2008. Comparable store sales for the quarter decreased 3%.

Net earnings for the fiscal first quarter increased 4% to $20.5 million, or $0.32 per diluted share. This compares to net earnings of $19.6 million, or $0.30 per diluted share, for the comparable period of fiscal 2008.

Commentary
David R. Jaffe, President and Chief Executive Officer stated, "We are pleased to have generated solid first quarter results that exceeded our expectations. In view of the current condition of the consumer market, we have carefully adjusted our inventory levels and promotional strategy. We have also moderated our outlook for the remainder of our fiscal year given the difficult and highly promotional retail environment."

Mr. Jaffe continued, "We believe our brands have a significant advantage in this retail climate as both benefit from a strong value message."

Mr. Jaffe concluded, "We will maintain our focus on preserving our strong and liquid balance sheet, which ended the quarter with approximately $300 million in cash and marketable securities, while continuing to tightly control our inventories and costs.

Revised Fiscal July 2009 Guidance
Given the current weakness in consumer spending that may well persist for the remainder of our fiscal year ending July 25, 2009; the Company revised its guidance for earnings per diluted share to the range of $0.90 to $1.00 from its previous guidance of $1.23 to $1.28. This revised earnings per share estimate is based upon various assumptions, including approximately 64.5 million fully diluted shares outstanding and a comparable store sales decrease in the mid-single digit range for the remainder of the fiscal year.

Dress Barn Inc

Must ReadView All

Textiles | On 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Urs Stalder
Sanitized AG

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search