Dress Barn, Inc. Announces Two-for-One Stock Split
March 07 2006 - 4:07PM
Business Wire
Dress Barn, Inc. (NASDAQ: DBRN) announced that the Board of
Directors today declared a two-for-one stock split of its common
stock. Shareholders of record as of March 17, 2006 will receive one
additional share of common stock for each share of common stock
they own on that date. The additional shares will be distributed on
March 31, 2006. The Company had 30,787,392 shares of common stock
outstanding as of March 6, 2006. The Company expects the adjusted
number of shares outstanding and adjusted per-share stock price to
be reported by the Nasdaq Stock Market, effective April 3, 2006.
Elliot S. Jaffe, Chairman of the Board, commented, "We are pleased
to take this action as a result of our strong operating results and
solid stock price performance. This is our Company's fifth stock
split since our 1983 initial public offering and is intended to
make Dress Barn's shares more accessible as well as increasing our
shareholder base and market liquidity. Today's action reflects our
belief in the long-term strategy of our Company and underscores our
ongoing commitment to enhancing shareholder value." ABOUT DRESS
BARN, INC. Dress Barn, Inc. (NASDAQ: DBRN), is a leading national
specialty apparel retailer offering quality career and casual
fashion apparel through its dressbarn and maurices brands. As of
February 25, 2006, the Company operated 784 dressbarn stores in 45
states and 513 maurices stores in 39 states. For more information,
please visit www.dressbarn.com and www.maurices.com.
FORWARD-LOOKING STATEMENTS Certain statements made in this press
release are not historical in nature and are "forward-looking
statements", within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially. The Company does not undertake to
publicly update or review its forward-looking statements even if
experience or future changes make it clear that our projected
results expressed or implied will not be achieved. Detailed
information concerning a number of factors that could cause actual
results to differ materially from the information contained herein
is readily available on our most recent report on Form 10-K for the
year ended July 30, 2005 and Form 10-Q for the quarter ended
October 29, 2005.
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