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Comparable sales up at Dress Barn
05
Feb '10
Dress Barn, Inc. reported its second quarter sales results.

Net sales for the thirteen-week fiscal quarter ended January 23, 2010 increased 73.1% to $594.1 million, compared to $343.2 million reported for the thirteen weeks ended January 24, 2009. The increase is primarily due to the inclusion of Justice sales since the merger on November 25, 2009 and increased comparable store sales at dressbarn and maurices. Consolidated comparable store sales increased 10% and 8% for the fiscal quarter and six months ended January 23, 2010, respectively.

David R. Jaffe, President and Chief Executive Officer commented, "We were very pleased with the stronger than expected sales performance at each of our divisions during the quarter. Our commitment of offering fashion apparel at value prices continues to resonate with our customers. We are also pleased with our recent successful redemption of all outstanding 2.50% Convertible Senior Notes. This has further strengthened our balance sheet by eliminating $112.5 million of debt and reduced our interest expense. We continue to be committed to a comprehensive strategy of improving our business and flowing value to our shareholders."

Dress Barn, Inc. is a leading national specialty apparel retailer offering quality casual and career women's fashion apparel at value prices through its dressbarn and maurices brands and tween girls' fashion apparel through its Justice brand. As of January 23, 2010, the Company operated 837 dressbarn stores in 47 states, 739 maurices stores in 44 states and 906 Justice stores in 45 states and Puerto Rico.

Dress Barn Inc

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