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Apparel retailer Deb Shops declares Q1 results
18 May '06
3 min read
During the first quarter of fiscal 2007, Deb Shops opened six new stores, remodeled two existing locations and closed three stores. The Company also added a net of seven plus-size departments and as of April 30, 2006, operated plus-size departments in 170 Deb Shops stores.
Barry Susson, CFO of Deb Shops, added, "We are pleased with our start to the new fiscal year, particularly given the current economic environment and our strong comparable store sales performance in last year's first quarter. Importantly, we continued to return value to our shareholders through our quarterly dividend payout, and still ended the period with $118.9 million in cash and marketable securities on our balance sheet. We move ahead focused on achieving our strategic goals and committed to delivering long-term growth and increased profitability."
Based on management's current outlook, Deb Shops is reiterating its fiscal 2007 guidance of sales in the range of $343 million to $348 million with a corresponding fully diluted earnings range of between $1.85 and $1.90 per share. These amounts are based on a projected low single digit comparable store sales increase and net new store growth of between 15 and 20 locations.
Deb Shops Inc is a national specialty retailer of fashionable apparel, shoes and accessories for juniors in both regular and plus sizes. The Company currently operates 332 specialty apparel stores in 42 states under the DEB and Tops 'n Bottoms names.
Barry Susson, CFO of Deb Shops, added, "We are pleased with our start to the new fiscal year, particularly given the current economic environment and our strong comparable store sales performance in last year's first quarter. Importantly, we continued to return value to our shareholders through our quarterly dividend payout, and still ended the period with $118.9 million in cash and marketable securities on our balance sheet. We move ahead focused on achieving our strategic goals and committed to delivering long-term growth and increased profitability."
Based on management's current outlook, Deb Shops is reiterating its fiscal 2007 guidance of sales in the range of $343 million to $348 million with a corresponding fully diluted earnings range of between $1.85 and $1.90 per share. These amounts are based on a projected low single digit comparable store sales increase and net new store growth of between 15 and 20 locations.
Deb Shops Inc is a national specialty retailer of fashionable apparel, shoes and accessories for juniors in both regular and plus sizes. The Company currently operates 332 specialty apparel stores in 42 states under the DEB and Tops 'n Bottoms names.
Deb Shops Inc
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