Dress Barn Completes Maurice’s Buy
Suffern, N.Y., The Dress Barn Inc. has completed its acquisition of Maurice’s Inc. Maurice’s, a $366 million, 477-store retailer of fashionable styles, will operate as a separate division of Dress Barn.
Dress Barn’s $320 million acquisition of the small-town apparel retailer was announced last November.
Dollar General Posts Lower Q3 Earnings
Goodlettsville, Tenn., Dollar General Corp. reported net income for the third quarter of $71.1 million, down from $77.9 million in the third quarter a year ago.
The discount chain previously reported that net sales during the third quarter increased 11.5% to $1.88 billion. The increase resulted primarily from new-store growth and a same-store sales increase of 3.4%.
Gross profit during the quarter was $554 million, or 29.5% of sales, vs. $516.9 million, or 30.7% of sales, in the prior year. Sales of highly consumable items, which generally have lower gross profit rates than the chain’s other merchandise categories, increased as a percentage of total sales mix.
Whitehall Jewellers Hires COO
Chicago, Whitehall Jewellers hired former Sears executive Lucinda Baier as COO. Baier has been a senior VP and general manager at Hoffman Estates, Ill.-based Sears. She has more than 20 years of financial, accounting and management experience having served in senior positions at major retail corporations, including Sears and U.S. Office Products, the company said.