Dress Barn revenue skyrockets in Q2

Suffern, N.Y. Dress Barn reported net sales for its fiscal second quarter ended Jan. 23, increased 73% to $594.1 million, compared with $343.2 million for the same period last year.

The increase is primarily due to the inclusion of Justice sales since the merger on November 25, 2009 to the close of the fiscal quarter. Same-store sales for the quarter increased 10%.

By division, net sales for Dressbarn increased 7% to $209.3 million, compared with $196.5 million for the second quarter of fiscal 2009, primarily due to a same-store sales increase of 6% for the quarter.

Net sales for Maurices increased 12% to $163.7 million, compared with $146.7 million for the second quarter of last year. The increase was due to a same-store sales increase of 5% and a 7% increase in average square footage versus the prior year. Net sales for Justice were $221.1 million since the merger on November 25, 2009. During this period, same-store sales increased 19%.

Net earnings for the second quarter increased to $21.7 million, compared with the recast GAAP net loss of $1.8 million for the same period last year.

Operating income for the second quarter was $43.1 million, or 7.3% of sales compared with a $2.4 million loss of sales in the prior-year second quarter.