Sept 16 (Reuters) – Dress Barn Inc (DBRN.O) reported a better-than-expected quarterly profit, assisted by tighter price and inventory controls, but forecast full-year 2010 earnings below industry expectations, sending its shares down 3 percent in after-market trade.The women’s clothes retailer sees 2010 earnings of $1.10 to $1.20 a share, although analysts on typical had been expecting the firm to earn $1.23 a share, in accordance with Reuters Estimates.
In June, the company had stated it will get teen-apparel seller Tween Brands Inc (TWB.N) to capture a greater share of your girls’ apparel market. Dress Barn said it’s going to update its outlook after closing the Tween Brands merger.
For the fourth quarter ended July 25, Dress Barn’s profit rose to $26.four million, or 41 cents a share, from $22.1 million, or 34 cents a share, a year ago.
Excluding products, it earned 39 cents per share, against Wall Street estimate of 37 cents a share.
Net sales for the business, which operates the namesake chain for girls and also the Maurices chain for twentysomethings, rose four percent to $398.9 million.
Analysts were expecting income of $400.7 million.
Like many other Canada Goose apparel retailers across the board, Dress Barn has reduced inventories and kept a tab on expenses to guard margins amid the hard retail climate.
Shares from the Suffern, New York-based firm, which have gained over half their worth more than the past six months, had been down 3 percent at $17.60 soon after the bell. They closed at $18.19 Wednesday 16 September on the Canada Goose Jackets New York Stock Exchange. (Reporting by Viraj Nair in Bangalore; Editing by Pradeep Kurup)
BRISBANE, CALIF. C July six, 2010 C bebe outlets, inc. (Nasdaq: BEBE) today Burberry Outlet Online announced that it can discontinue operations of its PH8 division, allowing the business to concentrate its efforts on improving bebe sales and profitability too as continuing to develop its 2b bebe concept, possibly within the spot of existing PH8 shops.The company estimates the total pre-tax price linked with closing or converting its 48 PH8 shops might be around $17 million and believes all 48 retailers will all be closed or converted throughout Burberry Outlet fiscal year 2011.bebe shops, inc. designs, develops and generates a distinctive line of modern women apparel and accessories, which it markets under the bebe, BEBE SPORT, bbsp, 2b bebe and PH8 brand names, all sold in their 297 stores, around the United states, U.S. Virgin Islands, Puerto Rico and Canada at the same time on the net.bebe outlets, inc.’s Board of Directors also declared a one-time cash dividend of $1.00 per share. The dividend is payable on July 30, 2010 to shareholders of record at the close of small business on July 21, 2010. No extra dividend will likely be payable this Coach Outlet quarter.The Board decided this was an proper time to make such payment to its shareholders in particular given the complete payment the organization received related to the auction rate securities it previously held at UBS, meaning total money and investments cmbined reached $350 million.This payout is announced regardless of statements released in May well this year concerning net sales down by 10.4%; from $127.7 million reported for the third quarter 2009 Coach Outlet Online lowered, for the third quarter of fiscal 2010 to $114.4 million.The firm had thought these results may be thanks to difficulties like miscalculation from the demand for items, ongoing competitive pressures in the apparel business, modifications within the amount of customer spending or preferences in apparel, loss of crucial personnel, difficulties in manufacturing, disruption of supply or adverse economic conditions.
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