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Justice sales up, Ascena Retail
04
Feb '11
Ascena Retail Group Inc reported stronger than anticipated fiscal 2011 second quarter sales results. Net sales for the thirteen week fiscal second quarter ended January 29, 2011 increased 27% to $752.1 million compared to $594.1 million for the thirteen week fiscal second quarter ended January 23, 2010.

The overall increase was primarily due to an increase of Justice sales of $116.7 million which included thirteen weeks this year compared to the period from the merger date of November 25, 2009 to January 23, 2010 last year. Consolidated comparable store sales during the second quarter, for stores open at least one year, increased 9%.

Net sales for the six month period ended January 29, 2011 increased 47% to $1.465 billion compared to $998.2 million for the six month period ended January 23, 2010. The overall increase was primarily due to an increase of Justice sales of $407.3 million which included twenty-six weeks this year compared to the period from the merger date of November 25, 2009 to January 23, 2010 last year. Consolidated comparable store sales during this six month period increased 6%.

Commentary
David R. Jaffe, President and Chief Executive Officer commented, "We are pleased to have sustained our sales momentum and strong rate of profitability through the holiday season. We believe that our merchandise assortments and inventory levels are appropriate for our current business trends and are excited about our continuing opportunity to deliver better than expected results and leverage our strong market positions to create additional value."

Ascena Retail Group Inc is a leading national specialty retailer of apparel for women and tween girls operating under the dressbarn, maurices and Justice brands. The Company operates 2,478 stores.

Ascena Retail Group Inc

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