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Quarterly comparable sales increase 7% at Dress Barn
06 Aug '10
2 min read
Dress Barn, Inc. reported its fiscal fourth quarter and fiscal year 2010 sales results. Sales results for the fiscal fourth quarter and fiscal year 2010 periods included fourteen and fifty-three weeks, respectively, while the same periods in fiscal year 2009 included thirteen and fifty-two weeks, respectively.
Fiscal Fourth Quarter Sales Results
Net sales for the fourteen-week fiscal fourth quarter ended July 31, 2010 increased 78% to $710.9 million compared to $398.9 million for the thirteen-week fiscal fourth quarter ended July 25, 2009. The overall increase was primarily due to the inclusion of Justice sales of $245.6 million. Consolidated comparable sales for Dress Barn, Inc. increased 7% for the thirteen-week period ended July 24, 2010 compared to the thirteen-week period ended July 25, 2009.
Fiscal Year 2010 Sales Results
Net sales for the fifty-three week fiscal year ended July 31, 2010 increased 59% to $2.4 billion compared to $1.5 billion for last year's fifty-two week fiscal year ended July 25, 2009. The increase was primarily due to the inclusion of Justicesales, which accounted for $711.9 million of the total increase of $880.4 million, since the merger date of November 25, 2009 to the close of the fiscal year. Comparable store sales for Dress Barn, Inc. increased 9% for the fifty-two week period ended July 24, 2010 compared to the fifty-two week period ended July 25, 2009.
Commentary
David R. Jaffe, President and Chief Executive Officer commented, "We are very pleased to continue to generate across-the-board productivity improvements. Our ability to combine great value and fashion is clearly resonating with consumers. As a result of our strong assortments, each of our brands continues to extend its leadership position and contribute to the success of our company."
Reaffirms Fiscal Year 2010 Earnings Per Share Guidance
Based upon the Company's fourth quarter sales results, the Company is reaffirming its estimated fiscal year 2010 earnings per share guidance in the range of $1.80 to $1.85.
Fiscal Fourth Quarter Sales Results
Net sales for the fourteen-week fiscal fourth quarter ended July 31, 2010 increased 78% to $710.9 million compared to $398.9 million for the thirteen-week fiscal fourth quarter ended July 25, 2009. The overall increase was primarily due to the inclusion of Justice sales of $245.6 million. Consolidated comparable sales for Dress Barn, Inc. increased 7% for the thirteen-week period ended July 24, 2010 compared to the thirteen-week period ended July 25, 2009.
Fiscal Year 2010 Sales Results
Net sales for the fifty-three week fiscal year ended July 31, 2010 increased 59% to $2.4 billion compared to $1.5 billion for last year's fifty-two week fiscal year ended July 25, 2009. The increase was primarily due to the inclusion of Justicesales, which accounted for $711.9 million of the total increase of $880.4 million, since the merger date of November 25, 2009 to the close of the fiscal year. Comparable store sales for Dress Barn, Inc. increased 9% for the fifty-two week period ended July 24, 2010 compared to the fifty-two week period ended July 25, 2009.
Commentary
David R. Jaffe, President and Chief Executive Officer commented, "We are very pleased to continue to generate across-the-board productivity improvements. Our ability to combine great value and fashion is clearly resonating with consumers. As a result of our strong assortments, each of our brands continues to extend its leadership position and contribute to the success of our company."
Reaffirms Fiscal Year 2010 Earnings Per Share Guidance
Based upon the Company's fourth quarter sales results, the Company is reaffirming its estimated fiscal year 2010 earnings per share guidance in the range of $1.80 to $1.85.
Dress Barn Inc
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