Dress Barn, Inc. Completes $75 Million Share Repurchase Program
August 14 2007 - 9:00AM
Business Wire
Dress Barn, Inc. (NASDAQ: DBRN), today announced its successful
completion of its $75 million share repurchase program. David R.
Jaffe, President and Chief Executive Officer of Dress Barn, Inc.,
commented, �We are pleased to have completed the Company�s $75
million share repurchase program. Dress Barn repurchased
approximately 5.1 million of its total outstanding shares at an
average price per share of $14.74 under this program, which was
announced in April 2001. During the past several weeks, we
repurchased in the open market on an opportunistic basis
approximately 2.6 million shares at a cost of $48.3 million. We
believe the completion of this repurchase program is a clear
testament to our Company�s confidence in our ability to grow our
dressbarn and maurices brands while building long-term value for
our shareholders. As a result of our ability to deliver strong cash
flow, we plan to seek Board approval of a new share repurchase
program at our upcoming September meeting. Furthermore, we believe
the strength of our balance sheet will allow Dress Barn to also
continue to explore other business opportunities.� ABOUT DRESS
BARN, INC. Dress Barn, Inc. (NASDAQ - DBRN), is leading national
specialty apparel retailer offering quality career and casual
fashion apparel through its dressbarn and maurices brands. As of
July 28, 2007, the Company operated 821 dressbarn stores in 46
states and 607 maurices stores in 42 states. For more information,
please visit www.dressbarn.com and www.maurices.com.
FORWARD-LOOKING STATEMENTS Certain statements made within this
press release may constitute �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 29, 2006 and Form 10-Q for the quarter ended April 28, 2007.
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