Dress Barn profit rises in Q4
Suffern, N.Y. Dress Barn Inc. said late Wednesday that its net income in the quarter ended July 31 rose on increased sales at its Justice and Maurices apparel banners.
The retailer earned $42 million in its fourth quarter, compared with $25.6 million in the year-ago period.
Revenue rose 78% to $710.9 million, primarily because of the inclusion of Justice's sales of $245.6 million. Revenue at Dress Barn stores rose 11% to $282.3 million, and revenue at Maurices increased 26% to $183 million. Wall Street anticipated revenue of $698.8 million.
Dress Barn said it was also helped by an extra week in the fourth quarter compared with the prior year.