Suffern, N.Y., Dress Barn Inc. on Tuesday said its fourth-quarter profit rose 38%, helped by higher sales as well as income from gift cards that were not redeemed.
Net income for the quarter ended July 28 rose to $33.6 million from $24.4 million in the prior-year period. Revenue rose 11% to $379.9 million from $343.3 million last year. Same-store sales rose 5% in the period.
For the fiscal year, profit rose 28% to $101.2 million from $79 million last year. Revenue rose 10% to $1.43 billion from $1.3 billion last year.