Home / Knowledge / News / Apparel/Garments / Dress Barn completes $75-mn share repurchase program

Dress Barn completes $75-mn share repurchase program

16
Aug '07

Dress Barn Inc announced its successful completion of its $75 million share repurchase program.

David R. Jaffe, President and Chief Executive Officer of Dress Barn Inc commented, "We are pleased to have completed the Company's $75 million share repurchase program. Dress Barn repurchased approximately 5.1 million of its total outstanding shares at an average price per share of $14.74 under this program, which was announced in April 2001."

"During the past several weeks, we repurchased in the open market on an opportunistic basis approximately 2.6 million shares at a cost of $48.3 million."

"We believe the completion of this repurchase program is a clear testament to our Company's confidence in our ability to grow our dressbarn and maurices brands while building long-term value for our shareholders."

"As a result of our ability to deliver strong cash flow, we plan to seek Board approval of a new share repurchase program at our upcoming September meeting. Furthermore, we believe the strength of our balance sheet will allow Dress Barn to also continue to explore other business opportunities."

Dress Barn Inc is leading national specialty apparel retailer offering quality career and casual fashion apparel through its dressbarn and maurices brands.

Dress Barn Inc

More Dress Barn Inc News... More Apparel/Garments News - United States Of America...