Tags: Dress-Barn | Shares | Earnings | Expectations

Dress Barn Shares Fall After Earnings Miss Expectations

Thursday, 16 Sep 2010 03:19 PM

Shares of Dress Barn Inc. fell Thursday after the clothing seller said fourth-quarter profit rose but fell short of analyst expectations.

Dress Barn reported Wednesday that its quarterly revenue rose 78 percent, helped by the acquisition of the teen-oriented Justice chain. But Dress Barn's net income fell short of what analysts were predicting because the company's costs rose.

Clothing sellers have suffered as consumers, particularly women, cut back on nonessentials in the uncertain economy. Dress Barn is focusing on several initiatives, such as expanding in Canada and cutting costs, to help results.

KeyBanc Capital Markets analyst Edward Yruma told investors that Dress Barn's initiatives to improve its results "set the foundation for future growth."

"We think the company has one of the best management teams in the space and has historically executed with aplomb," Yruma wrote.

Shares fell $1.06, or 4.3 percent, to $23.38 during midday trading. The stock has traded between $16.88 and $30.58 during the past 52 weeks.

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Shares of Dress Barn Inc. fell Thursday after the clothing seller said fourth-quarter profit rose but fell short of analyst expectations. Dress Barn reported Wednesday that its quarterly revenue rose 78 percent, helped by the acquisition of the teen-oriented Justice chain....
Dress-Barn,Shares,Earnings,Expectations
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2010-19-16
Thursday, 16 Sep 2010 03:19 PM
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