FINANCE

Dress Barn 1Q Earnings Drop 28%

BY CSA STAFF

Suffern, N.Y., Dress Barn Inc. said Tuesday its fiscal first-quarter earnings dropped 28% as warm weather and cautious consumer spending weakened sales at the company’s namesake stores.

For the quarter ended Oct. 27, earnings fell to $19.6 million from $27.4 million in the year-ago period. Quarterly net sales increased less than 2% to $363.7 million from $358.4 million.

Dress Barn attributed its sales increase to new store openings, which partially offset a 3% same-store sales decline.

The company’s dressbarn stores reported an 8% drop in same-store sales, while its maurices stores booked a same-store sales increase of 8%.

President and CEO David R. Jaffe said Dress Barn has increased promotional activity to reduce seasonal inventory and has focused on controlling costs.

“There has been some recent improvement in the sales trend of our dressbarn stores toward the end of the quarter, but we expect an increased promotional retail environment for much of this holiday season,” Jaffe said.

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Bon-Ton evp of stores to retire at year’s end

BY CSA STAFF

YORK, Pa. The Bon-Ton Stores announced that James Zamberlan, evp of stores has stated his intention to retire at the end of fiscal 2007. He will be succeeded Barbara Schrantz, senior vp of merchandise planning and Internet marketing, effective Feb. 29, 2008.

Schrantz will report to Steve Byers, vice chairman of stores, operations, private brand and planning and allocation. Prior to joining The Bon-Ton in 2005 as senior vp of product development and private brand, Schrantz held various merchandising posts of increasing responsibility at Proffitts/McRaes, a division of Saks Inc. Prior to joining Proffitts, she was with Herbergers.

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Edgenet names new executives

BY CSA STAFF

NASHVILLE, Tenn. Edgenet, a leading provider of guided selling applications and global data synchronization services, has announced the appointments of three new senior executives to its leadership team.

Juliet Reising will serve as the companys new cfo, Herb Romig joins as vp of merchandising, and Tim Stafford returns to Edgenet to serve in a newly created role as senior vp of global business development.

Reising’s experience encompasses technology and services companies, including Verso Technologies, Mindspring, Avdata, Interserv Corporation, Media Marketing Services and Cox Communications.

Romig spent the last 15 years at The Home Depot where he held a number of key merchandising positions, including senior roles with Home Depot Direct, the DIY giants online division.

Stafford, a retail industry veteran, will return to Edgenet to head business development and be responsible for executing partnerships, alliances and new business opportunities. Stafford has served in prominent senior management and consulting roles, most recently with Edgenet as the companys senior vp of services.

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