Attached files
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| 8-K - Mahwah Bergen Retail Group, Inc. | v209960_8k.htm |
Exhibit
99.1
NEWS
RELEASE
ASCENA
RETAIL GROUP, INC. REPORTS
STRONG
FISCAL SECOND QUARTER SALES RESULTS
—
Quarterly Comparable Sales Increase 9% —
SUFFERN, NY – February 3, 2011 –
Ascena Retail Group, Inc. (NASDAQ - ASNA) today reported
stronger than anticipated fiscal 2011 second quarter sales
results. Net sales for the thirteen week fiscal second quarter ended
January 29, 2011 increased 27% to $752.1 million compared to $594.1 million for
the thirteen week fiscal second quarter ended January 23, 2010. The
overall increase was primarily due to an increase of Justice sales of $116.7
million which included thirteen weeks this year compared to the period from the
merger date of November 25, 2009 to January 23, 2010 last
year. Consolidated comparable store sales during the second quarter,
for stores open at least one year, increased 9%.
Net sales
for the six month period ended January 29, 2011 increased 47% to $1.465 billion
compared to $998.2 million for the six month period ended January 23,
2010. The overall increase was primarily due to an increase of Justice sales of $407.3
million which included twenty-six weeks this year compared to the period from
the merger date of November 25, 2009 to January 23, 2010 last
year. Consolidated comparable store sales during this six month
period increased 6%.
The
Company’s net sales and comparable store sales by brand for the fiscal second
quarter and six month period were as follows:
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Fiscal Second Quarter
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Net Sales ($ millions)
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Comparable
Store Sales (A)
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Second Quarter Ended
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Jan. 29, 2011
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Jan. 23, 2010
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% Inc/(Dec)
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% Inc/(Dec)
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dressbarn
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$ | 211 | $ | 209 | 1 | % | 1 | % | ||||||||
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maurices
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202 | 163 | 24 | % | 17 | % | ||||||||||
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Justice
(B)
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337 | 221 | 53 | % | 11 | % | ||||||||||
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Ascena
Retail Group, Inc.
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$ | 752 | $ | 594 | 27 | % | 9 | % | ||||||||
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Six Month Period
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Net Sales ($ millions)
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Comparable
Store Sales (A)
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Six Month Period Ended
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Jan. 29, 2011
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Jan. 23, 2010
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% Inc/(Dec)
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% Inc/(Dec)
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dressbarn
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$ | 451 | $ | 457 | (1 | )% | (1 | )% | ||||||||
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maurices
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385 | 319 | 20 | % | 13 | % | ||||||||||
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Justice
(B)
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628 | 221 | 184 | % | 7 | % | ||||||||||
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Ascena
Retail Group, Inc.
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$ | 1,465 | $ | 998 | 47 | % | 6 | % | ||||||||
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(A)
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Justice comparable store
sales results for the second quarter and six months are based on the full
fiscal reporting period which includes comparable store sales prior to the
merger date.
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(B)
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Justice sales for the
current year second quarter and six months are for the thirteen and
twenty-six weeks ended January 29, 2011, respectively, compared to the
period from the merger date of November 25, 2009 to January 23, 2010 in
the prior year second quarter and six month
period.
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Commentary
David R.
Jaffe, President and Chief Executive Officer commented, “We are pleased to have
sustained our sales momentum and strong rate of profitability through the
holiday season. We believe that our merchandise assortments and
inventory levels are appropriate for our current business trends and are excited
about our continuing opportunity to deliver better than expected results and
leverage our strong market positions to create additional value."
Conference Call
Information
The
Company will conduct a conference call on March 2, 2011 at 9:00 AM Eastern Time
to review its second quarter fiscal 2011 results followed by a question and
answer session. Parties interested in participating in this call should dial in
at (857) 350-1678 prior to the start time, the passcode is 19054272. The call
will also be simultaneously broadcast at www.ascenaretail.com. A
recording of the call will be available shortly after its conclusion and until
April 2, 2011 by dialing (617) 801-6888, the passcode is 30091048.
About Ascena Retail Group,
Inc.
Ascena
Retail Group, Inc. (NASDAQ -
ASNA) is a leading national specialty retailer of apparel for women and
tween girls operating under the dressbarn, maurices and Justice brands. The Company
operates 2,478 stores.
dressbarn stores offer casual,
career and special occasion fashion apparel and accessories at value prices for
women ages 35-55, operating 829 stores in 47 states. maurices stores offer casual
and career apparel and accessories at great values to the fashion-conscious
woman, ages 17-34 with a 20-something attitude, and operate 761 stores in 44
states. Justice stores
offer trend-right apparel and accessories at value prices for tween girls ages
7-14 and operate 888 stores in 46 states and Puerto Rico.
For more
information, visit www.ascenaretail.com,
www.dressbarn.com,
www.maurices.com
and www.shopjustice.com.
Ascena Forward-Looking
Statement Disclosure
Certain
statements made within this press release may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are subject to certain risks
and uncertainties that could cause actual results to differ
materially. The Company does not undertake to publicly update or
review its forward-looking statements even if experience or future changes make
it clear that our projected results expressed or implied will not be
achieved. Detailed information concerning a number of factors that
could cause actual results to differ materially from the information contained
herein is readily available on Dress Barn’s most recent report on Form 10-K/A
for the year ended July 31, 2010 and Form 10-Q for the quarter ended October 30,
2010.
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CONTACT:
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Ascena
Retail Group, Inc.
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Investor
Relations
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(845)
369-4600
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