'We were very pleased with our sales', CEO - Ascena Retail
11 Jan '11
2 min read
Ascena Retail Group Inc announces it is raising earnings per share guidance for its fiscal year ending July 30, 2011.
As a result of better than expected holiday season sales and margin performance, the Company is raising its non-GAAP diluted earnings per share guidance for fiscal 2011 to a range of $2.20 to $2.25 from its previous guidance of $2.05 to $2.15.
David R. Jaffe, President and Chief Executive Officer commented, "We were very pleased with our sales and margin performance at each of our brands over the important holiday season. With overall stronger than expected comp sales, we sustained our full-priced sell through rates and outperformed our expectations through excellent profitability. This was particularly true for maurices, which led our performance during the holiday season. We were also very pleased with Justice's better than anticipated gross profit performance."
The Company noted that comparable store sales for the holiday season, comprising the period from Thanksgiving Day to January 2, 2011, increased 7% on a consolidated basis. By brand, dressbarn increased 4%, maurices increased 16% and Justice increased 4%.
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 2,489 stores.
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