Reuters
Feb 18, 2009
Dress Barn posts Q2 loss, reaffirms '09 view
Reuters
Feb 18, 2009
*Posts Q2 loss
*Reaffirms FY 2009 view
Feb 18 (Reuters) - Women's clothing retailer Dress Barn Inc (DBRN.O) posted a quarterly loss, hurt by the current slump in the retail environment, but reaffirmed its fiscal 2009 earnings forecast.
For the second quarter, the Suffern, New York-based company, which operates stores under the Maurices and Dress Barn brands, posted a net loss of $1.1 million, or 2 cents per share.
It had earned $7.4 million, or 12 cents a share, in the year-ago quarter.
Total sales fell a percent to $343.2 million, while total comparable sales fell 4 percent fall.
Analysts were expecting the company to earn 1 cent a share, on revenue of $343.70 million.
"Although we expect the Spring season to be challenging, we believe we are well positioned in this current economic environment to take market share," Chief Executive David Jaffe said in a statement.
Shares of the company were up at $10.05 in trading after hours. They had closed at $9.32 Wednesday on Nasdaq. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Jarshad Kakkrakandy)
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