Attached files
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| 8-K - Mahwah Bergen Retail Group, Inc. | v207784_8k.htm |
Exhibit
99.1
NEWS
RELEASE
ASCENA
RETAIL GROUP, INC. RAISES FISCAL 2011 EARNINGS PER SHARE GUIDANCE
SUFFERN, NY – JANUARY 10, 2011
– Ascena Retail Group, Inc. (NASDAQ - ASNA) today
announces it is raising earnings per share guidance for its fiscal year ending
July 30, 2011.
As a
result of better than expected holiday season sales and margin performance, the
Company is raising its non-GAAP diluted earnings per share guidance for fiscal
2011 to a range of $2.20 to $2.25 from its previous guidance of $2.05 to
$2.15.
David R.
Jaffe, President and Chief Executive Officer commented, “We were very pleased
with our sales and margin performance at each of our brands over the important
holiday season. With overall stronger than expected comp sales, we
sustained our full-priced sell through rates and outperformed our expectations
through excellent profitability. This was particularly true for maurices, which led our
performance during the holiday season. We were also very pleased with
Justice’s better than
anticipated gross profit performance.”
The
Company noted that comparable store sales for the holiday season, comprising the
period from Thanksgiving Day to January 2, 2011, increased 7% on a consolidated
basis. By brand, dressbarn increased 4%, maurices increased 16% and
Justice increased
4%.
As
previously announced, the Company will be participating in the 9th Annual Cowen
and Company Consumer Conference, January 11, 2011 at The Westin New York at
Times Square in New York, NY and the 13th Annual ICR XChange Conference on
Wednesday, January 12, 2011 at the St. Regis Monarch Beach Resort in Dana Point,
California. A copy of this presentation is now available at
www.ascenaretail.com in the investor relations section.
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 2,489 stores.
dressbarn stores offer casual,
career and special occasion fashion apparel and accessories at value prices for
women ages 35-55, operating 832 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 763 stores in 44
states. Justice stores
offer trend-right apparel and accessories at value prices for tween girls ages
7-14 and operate 894 stores in 46 states and Puerto Rico.
For more
information, please 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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