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Deb Dons Profit Increase

PHILADELPHIA-In its Q2, Deb Shops Inc. reports a 38.2% increase in gross profits, due to the company's full-price selling of key apparel items.

By Dana Dubriwny | Updated on August 26, 2005

PHILADELPHIA-Teen-apparel retailer Deb Shops Inc. saw a 38.2% jump in profit during its second quarter ended July 31. According to the company’s quarterly results, Deb Shops’ gross profit increased to $29 million compared to $25.7 million a year ago.

During the company’s Q2 earnings call Thursday, chief financial officer Barry Susson attributed Deb’s growth to strong full-price selling of the company’s key classic offerings including jeans, capris, prairie skirts, denim and hooded jackets, tank and hooded tops, dresses and shoes. Year-to-date, Susson said the average transaction size has increased 4.7%.

The company posted a net-sales increase of 4.3% to $76 million compared to $72.8 million in the second quarter a year ago; a rise of 4.5% in same-store sales; and comparable store sales increase of 5.7% from the same period last year. Second quarter net income increased to $6.6 million compared to $4.6 million in the second quarter, while diluted earnings per share increased to 46 cents from 34 cents in last year’s second quarter.

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