Dress Barn Inc reported sales and earnings results for the fiscal second quarter ended January 26, 2008.
Fiscal Second Quarter Results: Net sales for the second quarter of fiscal year 2008 were $345.6 million, an increase of 2% over $340.3 million for the same quarter a year ago. Sales growth from new stores was partially offset by a comparable store sales decrease of 4%.
Net sales for dressbarn stores decreased 4%, including a 7% decline in comparable store sales, to $204.1 million, compared to $213.1 million in the year ago quarter ended January 27, 2007. Net sales for maurices stores increased 11%, including a comparable store sales increase of 2%, to $141.5 million, compared to $127.2 million during the year ago quarter.
Net earnings for the fiscal second quarter ended January 26, 2008 decreased to $7.4 million, or $0.12 per diluted share, including approximately $0.03 from the favorable impact of certain one-time tax items. This compares to $17.0 million, or $0.24 per diluted share in the year ago period.
Fiscal Six Months Results: Total net sales for the first six months of fiscal year 2008 were $709.3 million, an increase of 2% over $698.8 million for the fiscal six-month period a year ago. Comparable store sales decreased 3%.
Net sales for dressbarn stores decreased 5% to $432.2 million, compared to $455.2 million in the year ago period. dressbarn comparable store sales decreased 8%. Net sales for maurices increased14% to $277.1 million, compared to $243.6 million during the year ago period. maurices comparable store sales increased 5%.
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