Shares of Dress Barn(DBRN Quote) were among Nasdaq's winners Wednesday, climbing 20% after the women's clothing retailer posted first-quarter results that blew past Wall Street earnings estimates and also lifted its fiscal 2006 earnings forecast.
For the quarter ended Oct. 29, the company earned $20.4 million, or 64 cents a share, on sales of $318.9 million. Analysts polled by Thomson First Call expected earnings of 40 cents a share. During last year's first quarter, Dress Barn earned $7.1 million, or 24 cents a share, on sales of $197.1 million. "We are extremely pleased with our record first-quarter results and are proud that both Dress Barn and Maurices contributed significantly to our success in the quarter. Our ability to exceed our internal plan was a result of several key factors," the company said, citing on-trend merchandise assortments. Dress Barn now sees earnings of $1.90 to $1.95 a share for the fiscal year ending July 29, up from its previous guidance of $1.60 to $1.65 a share. The forecast includes stock-options expense charges of about 8 cents a share. Analysts, on average, anticipate earnings of $1.65 a share. Dress Barn shares were trading up $5.60 to $34.20. Jack in the Box(JBX Quote) jumped 7% after the fast-food restaurant company posted better-than-expected fourth-quarter earnings and reiterated its first-quarter earnings forecast. The company earned $21.5 million, or 59 cents a share, on sales of $601.4 million, for the quarter ended Oct. 2. The results included a charge of $2 million, or 5 cents a share, related to the cancellation of the company's test of a fast-casual concept called JBX Grill. Analysts expected earnings of 59 cents a share and sales of $606 million. In last year's fourth quarter, the company earned $21 million, or 56 cents a share, on sales of $593.9 million. Last year's results benefited from an extra week, which contributed 3 cents to the bottom line.- Loading Comments...
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