The apparel retailer, which operates the Dressbarn and Maurice's brands, posted sales during the quarter of $318.9 million compared to $197.1 million for the same period last year. It's worth noting that last year's results did not include any sales achieved by the Maurice's brand, which Dress Barn Inc. acquired earlier this year.
Moreover, the company's profit for the quarter reacheda record level of $20.4 million, or 64 cents perdiluted share, compared to $7.1 million, or 24 centsper diluted share, in same quarter 2004.
Comparable store sales increased 9% for the firstquarter with both October and November same storesales of 10% for the 797 Dressbarn stores and 511Maurices stores.
Dress Barn Inc.'s president and CEO David R. Jaffeattributed the growth to an improved merchandize mixthat is "trend-right" and better margins. "Overall, itwas an excellent quarter for both our concepts," hesaid during the earnings conference call.
As a result of the strong first-quarter results, DressBarn Inc. raised its full-year earnings guidance to$1.90 to $1.95 per diluted share from its previous earningsguidance of $1.60 to $1.65 per diluted share.
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