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maurices stores sales escalating in low single digits
11 Jan '08
2 min read
The Company now believes that, based on the results of the Holiday season, it is prudent to assume the difficulties of the current retail environment are likely to continue.
As a result, the Company now estimates earnings per diluted share to be in the range of $1.05 to $1.10 for fiscal 2008, versus its previous earnings estimate of $1.25 to $1.35 per diluted share.
The fiscal 2008 revised earnings per share estimate is based on various assumptions, including that comparable store sales for the second half of the fiscal year will remain flat.
The Company estimates comparable store sales for its current fiscal second quarter will decrease by the mid-single digits, with dressbarn stores decreasing in the high single digits and maurices stores increasing in the low single digits.
David R. Jaffe, President and Chief Executive Officer stated, "Our overall sales for the current quarter have fallen short of our expectations. While we have been pleased with maurices' continued increased sales performance, the current macro-economic pressures have had a greater impact on our dressbarn stores' customer.
This has required increased promotional activity in order to keep our dressbarn stores' seasonal inventory to acceptable levels."
The Company plans to announce its fiscal second quarter ending January 26, 2008 sales and earnings results on February 27, 2008.
Dress Barn Inc will be presenting at the Cowen and Company 6th Annual Consumer Conference to be held at The Westin New York at Times Square in New York, NY at 2:00 p.m. ET on Tuesday, January 15, 2008.
The Company will also be presenting at the 10th Annual ICR XChange Conference to be held at the St. Regis Monarch Beach Resort in Dana Point, CA at 1:50 p.m. PT (4:50 p.m. ET) on Wednesday, January 16, 2008. Both conferences will be webcast live and can be accessed at company's website.
As a result, the Company now estimates earnings per diluted share to be in the range of $1.05 to $1.10 for fiscal 2008, versus its previous earnings estimate of $1.25 to $1.35 per diluted share.
The fiscal 2008 revised earnings per share estimate is based on various assumptions, including that comparable store sales for the second half of the fiscal year will remain flat.
The Company estimates comparable store sales for its current fiscal second quarter will decrease by the mid-single digits, with dressbarn stores decreasing in the high single digits and maurices stores increasing in the low single digits.
David R. Jaffe, President and Chief Executive Officer stated, "Our overall sales for the current quarter have fallen short of our expectations. While we have been pleased with maurices' continued increased sales performance, the current macro-economic pressures have had a greater impact on our dressbarn stores' customer.
This has required increased promotional activity in order to keep our dressbarn stores' seasonal inventory to acceptable levels."
The Company plans to announce its fiscal second quarter ending January 26, 2008 sales and earnings results on February 27, 2008.
Dress Barn Inc will be presenting at the Cowen and Company 6th Annual Consumer Conference to be held at The Westin New York at Times Square in New York, NY at 2:00 p.m. ET on Tuesday, January 15, 2008.
The Company will also be presenting at the 10th Annual ICR XChange Conference to be held at the St. Regis Monarch Beach Resort in Dana Point, CA at 1:50 p.m. PT (4:50 p.m. ET) on Wednesday, January 16, 2008. Both conferences will be webcast live and can be accessed at company's website.
Dress Barn Inc
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