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Dress Barn's Sales Soar

SUFFERN, NY-Women's clothing retailer Dress Barn Inc. delivered record sales and earnings during the first quarter.

By Beverly Ford | Updated on November 29, 2006

SUFFERN, NY-Strong sales sent first quarter profits soaring to a record 35% at women’s clothing retailer Dress Barn Inc., prompting the locally-based chain to raise its yearly profit outlook.

The company, which operates nearly 800 stores nationwide under the Dress Barn, Dress Barn Woman and Maurices flags, reported that net income for the period ended Oct. 28, 2006 increased to a record $27.4 million, or 40 cents per share, 3 cents higher than analysts had expected. Net income for the same period during 2005 was $20.4 million, or 32 cents per share. Sales also jumped 12% during the quarter, rising to a record $358.4 million from $318.9 million a year ago.

Same-store sales increased 7% in the quarter, buoyed by a 10% gain at Dress Barn stores and a 2% increase at the firm’s Maurices’ outlets, which sells casual and work clothing, mainly in smaller markets. It was the 11th consecutive quarter of comparable store sales increase, President and Chief Executive Officer David Jaffe says.

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