Dress Barn Inc. (DBRN) Profit Jumps 35%
Women's retailer Dress Barn Inc. on Tuesday posted a 35 percent rise in fiscal first-quarter profit on strong sales growth at its flagship and Maurices stores.
The company also raised its profit outlook for the year, sending shares higher in after-hours trading.
For the first quarter ended in October, net income increased to $27.4 million, or 40 cents per share, from $20.4 million, or 32 cents per share, in the year-earlier period. Analysts polled by Thomson Financial forecast earnings of 37 cents per share for the quarter.
Sales jumped 12 percent to $358.4 million from $318.9 million a year ago.
The company also raised its profit outlook for the year, sending shares higher in after-hours trading.
For the first quarter ended in October, net income increased to $27.4 million, or 40 cents per share, from $20.4 million, or 32 cents per share, in the year-earlier period. Analysts polled by Thomson Financial forecast earnings of 37 cents per share for the quarter.
Sales jumped 12 percent to $358.4 million from $318.9 million a year ago.
Labels: DBRN, Dress Barn Inc.
posted by Stock Administrator @ 5:45 PM
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