Interviews
News Flash
Justice inclusion drives Q1 performance of Dress Barn
22 Nov '10
4 min read
Commentary
David R. Jaffe, President and Chief Executive Officer commented, "Our strong first quarter results were largely driven by the inclusion of the Justice business. Our financial performance was led by better than expected results at both maurices and Justice while our dressbarn stores were somewhat below plan. We are focused on maximizing our productivity in each concept through effective inventory management and assortment planning."
Mr. Jaffe continued, "As we look forward to the Holiday and Spring seasons, we are encouraged that our positioning will enable us to continue to capture increased sales. We believe that we have the right mix of fashion and value in each of our concepts to capture the attention of our core consumers. Operationally, we will leverage the scale and best practices of our businesses to grow stronger. We believe that the strength of our brands, our balance sheet, and our ability to generate excellent levels of cash place us in a superior position to drive value to our shareholders."
Reaffirms Fiscal July 2011 guidance
The Company reaffirms guidance for non-GAAP earnings per diluted share for its fiscal year ending July 2011 in the range of $2.05 to $2.15. This estimate is based upon various assumptions for the year including a low to mid-single digit increase in comparable store sales. Fiscal 2011 is a fifty-two week year, with the fourth quarter including thirteen weeks. The Company plans to open approximately 70 stores and close 50 stores, ending fiscal 2011 with approximately 2,500 dressbarn, maurices and Justice stores in operation.
David R. Jaffe, President and Chief Executive Officer commented, "Our strong first quarter results were largely driven by the inclusion of the Justice business. Our financial performance was led by better than expected results at both maurices and Justice while our dressbarn stores were somewhat below plan. We are focused on maximizing our productivity in each concept through effective inventory management and assortment planning."
Mr. Jaffe continued, "As we look forward to the Holiday and Spring seasons, we are encouraged that our positioning will enable us to continue to capture increased sales. We believe that we have the right mix of fashion and value in each of our concepts to capture the attention of our core consumers. Operationally, we will leverage the scale and best practices of our businesses to grow stronger. We believe that the strength of our brands, our balance sheet, and our ability to generate excellent levels of cash place us in a superior position to drive value to our shareholders."
Reaffirms Fiscal July 2011 guidance
The Company reaffirms guidance for non-GAAP earnings per diluted share for its fiscal year ending July 2011 in the range of $2.05 to $2.15. This estimate is based upon various assumptions for the year including a low to mid-single digit increase in comparable store sales. Fiscal 2011 is a fifty-two week year, with the fourth quarter including thirteen weeks. The Company plans to open approximately 70 stores and close 50 stores, ending fiscal 2011 with approximately 2,500 dressbarn, maurices and Justice stores in operation.
Dress Barn Inc
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