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Friday, November 20, 2009
Dress Barn Shares on 1Q Earnings and Full-Year View
By Kathryn Glass
FOXBusiness
Shares of women’s retailer Dress Barn Inc. (DBRN) saw shares rise more than five percent in Friday’s session, after the company beat first-quarter earnings estimates and boosted its outlook on Thursday.
The company said it expects full-year earnings to range between $1.20 and $1.30 a share, boosting its outlook by 10 cents.
In the third quarter, Dress Barn saw profit rise nearly 10% to $21.7 million or 33 cents a share, compared to earnings of $19.7 million or 30 cents a share in the year-ago quarter.
Revenue improved by 7.4% to $404.1 million. Analysts polled by Thomson Reuters had expected the company to report earnings of 33 cents on sales of $391 million.
Same-store sales rose 4% during the quarter, while gross margins improved from 39.1% to 40.5%.
Shares of Dress Barn rose $1.16 a share or 5.65% to close at $21.68 on Friday. The stock was up another 12 cents in after-hours trading on Friday.
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