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Record Profit for Dress Barn

SUFFERN, NY-The specialty apparel chain achieves a 96% increase in net earnings, pushing the company to a record $20 million in profit.

By Jennifer D. Duell | Updated on June 01, 2006

SUFFERN, NY-Strong momentum drove Dress Barn Inc.’s third quarter financial performance, said the chain’s president and CEO David Jaffe during the earnings conference call. The specialty apparel chain posted record sales and earnings, along with significant comp-store sales increases.

During the third quarter, Dress Barn’s net earnings increased 96% to a record $20 million, or 29 cents per diluted share, compared to $10.2 million, or 17 cents per diluted share, in the same quarter last year. Comp store sales increased 7% for the same period, the ninth consecutive quarter of gains. Jaffe said that the company saw increases across several merchandise categories for both its dressbarn and maurices brands. Dressbarn comp store sales jumped 10% and maurices increased 2%.

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